This course will focus on the application of economic analysis to the problems of resource depletion and environmental pollution. Several fundamental questions will be addressed: Does economic growth necessarily imply environmental destruction? What are the optimal levels of pollution control and energy conservation? What policy options exist for achieving these goals? Should the government sell permits to pollute, tax polluters, or impose direct legal restrictions on the quantities of pollutants? We will also examine the effects of market structure and uncertainty on the rate of resource depletion.
Offered every third year beginning 2020-21.
Open to graduate students only.