EFN 412E - Environmental Economics

Course Objectives

To provide in the light of Coase theorem a thorough understanding of property rights, public goods, and how market-based solutions can mitigate environmental problems.
To introduce demand and preference estimation techniques as applied to environmental goods.
To study contemporary environmental policy issues.
To introduce basic policy and investment evaluation techniques.

Course Description

The course starts with introducing the problem of social cost in relation to property rights and externalities. Thus, it relates the concept to fundamental welfare theorems of economics and market failures. The course continues with analysis and quantification of preferences towards environmental goods. Then, the course introduces various environmental policies and theoretical and empirical assessment methods, including the cost-benefit analysis.