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A Battle Over the Costs of Global Warming

Course: ECP 3302, Fall 2011
School: Florida State College
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Word Count: 1277

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IN ABattleOvertheCostsofGlobalWarming SIGN TO E-MAIL OR SAVE THIS PRINT REPRINTS SHARE By DAVID LEONHARDT Published: February 21, 2007 NewHaven Video of the Debate The Stern Review A Summary of the Review William Nordhaus's Response Martin Weitzman's Response Roster of Debate Participants Related ReaderResponses(February21,2007)...

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Florida State College - ECP - 3302
Thursday, Nov 17Numerical example:Suppose:Marginal extraction cost = MEC = \$2WTP = P = 8-.4QDiscount rate = 10%('inverse' demand curve; price is dependent variable, indicates WTP)Total Q supply = 20After a little constrained optimization (not nece
Florida State College - ECP - 3302
Tuesday, Nov. 15Sustainability and capital:What is 'capital'? class of productive resources - used to producevarious goods, services, benefits, amenities, etc, for final use orconsumption&amp; substitutability of human, physical, and natural capitalCapi
Florida State College - ECP - 3302
Betting on the PlanetTierney, John; John Tierney is a reporter for The New York Times. He is writing a book on environmentalcrises. New York Times [New York, N.Y] 02 Dec 1990: A.52.In 1980 an ecologist and an economist chose a refreshingly unacademic w
Florida State College - ECP - 3302
T hursday, Nov 101. Resource scarcityCentral historical issue regarding running out of resources - adequacy of resourcesuppliesOr When will we 'run out of everything?'prior to industrial revolution local shortages of food, water, basic materials;ind
Florida State College - ECP - 3302
In the past few weeks, we have discussed various standards forenvironmental regulation, the use of cost/benefit analysis, and the efficiencystandard of regulation.Here's an example of a cost benefit analysis performed by the EnvironmentalProtection Ag
Florida State College - ECP - 3302
T uesday, Nov 81. Continue benefit/cost analysisWhat is the appropriate discount rate for environmental projects &amp; policies with distanttime horizons?(Everglades restoration, global warming)Example: EPA's drinking water standards for lead (Safe Drink
Florida State College - ECP - 3302
Thursday, Nov. 31. Costs of environmental regulation:Cost Benefit AnalysisWhen done correctly - measurement of marginal costs and benefits of a project orpolicyHow can it be done correctly?Use accepted economic theory and accepted procedures for es
Florida State College - ECP - 3302
Ecosystem services(taken from Gretchen C. Daily, Nature's Services: Societal Dependence on Natural Ecosystems, 1997;Brewer, The Science of Ecology, 1988)Soil:absorption of precipitationsupport and nourishment for plants &amp; seedsabsorption of waste ma
Florida State College - ECP - 3302
Tuesday, Nov 1.1. Value of statistical lifeKey is 'statistical' life - not any individual or specific life - used frequently (toestimate damages in court, for example).Value of statistical life (VSL) reflects value of reduction to risk exposure: refle
Florida State College - ECP - 3302
Thurs, Oct 27Valuation, cont.1. Stated Preference Approaches: Contingent Valuation Method (CVM)In these cases, economists simply ask people for their valuation. The most commontechnique is contingent valuation (CV).Environmental policy history:The C
Florida State College - ECP - 3302
Thursday, Oct 201.Travel cost methodTypically used to value recreational resources;Value of recreational resource is inferred from willingness to pay to use the resourceRequires collection of survey data on:distance of travel,cost of traveltime,
Florida State College - ECP - 3302
What to expect on the midterm examThe midterm exam takes place on Tuesday, Oct 25. It covers the material from thebeginning of the semester through the material covered in class and in the text throughThursday, Oct 20. All material and topics covered i
Florida State College - ECP - 3302
Tuesday, Oct 18Problem sets 3 &amp; 41. From last week: Valuation of natural &amp; environmental resourcesDirect use value - value derived from explicit and intended use of a beach, park, fishery,forest, water source, etc.Indirect (also passive or nonuse, va
Florida State College - ECP - 3302
Anote on discountingDiscounting, like its cousin, compounding, is a mathematical procedure forexpressing the value today of a sum, amount, or benefit to be received in the future(or, in the case of compounding, the value in the future of a sum we alre
Florida State College - ECP - 3302
Thursday, Oct 131. Next - Valuation of environmental and natural resources.How do we estimate the value and cost of environmental amenities?Environmental problems are usually a side effect of beneficial activities Travel, Electric power, Agriculture, P
Florida State College - ECP - 3302
Tuesday, Oct 111.a. Coase theoremTwo participants: one who causes pollution, and one who is damaged.In absence of govt regulations, the two may negotiate to reduce or eliminatedamages.Key aspects: property rights, and transaction costs.If neither p
Florida State College - ECP - 3302
Thurs., Oct 61. Corrective approaches to externalities and other market failures:A. Government intervention or regulation Under what circumstances,When? How?What are the costs?What are the benefits?- Direct government interventionReforestationRes
Florida State College - ECP - 3302
Equilibrium Externality problem:Suppose that S = P = 10 + .075Q and D = P = 42 -.125 QEquilibrium = 10 + .075 Q = 42 - .125 Q= .2 Q = 32; so Q = 160, and at Q of 160, P = 22What is consumer surplus? = (42-22) * (160) * .5 = 1600What is producer surpl
Florida State College - ECP - 3302
Thurs., Sept 291. Externalities - welfare, production, or utility of one person is affected by unintendedactions or influences of another, reflecting costs or benefits that aren't recognized in amarket - common property, open access, public goods.Man
Florida State College - ECP - 3302
Tuesday,Sept271. Efficiency conditions, cont:In an efficient competitive market:Property rights are clearly defined- all resources &amp; factors of production are privately owned- all costs and benefits accrue to owners and users of resourcesso. Social
Florida State College - ECP - 3302
Thurs., Sept 22From TuesdayDiscounting example1. Efficiency conditionsstatic efficiency at a specific point in time, or when time is not aconsiderationdynamic efficiency - over timeIn an efficient competitive market:Property rights are clearly def
Florida State College - ECP - 3302
Net Present Value exampleYearGas-powered01234515,0001,0001,0001,0001,0001,000Hybrid17,500400400400400400Saving on Gas-2,50060060060060060016002600360046005600NPV of savingsNPV0.03582.52565.56549.08533.09517.57
Florida State College - ECP - 3302
Tuesday, Sept. 20Discounting - a technique for the calculation of the present value of a future stream of benefits;the process by which benefits which are to be realized in the future are expressed in the present.Example:Suppose you are to decide betw
Florida State College - ECP - 3302
Thursday, Sept. 151. What do the various parts of the supply/demand diagram represent?a. Price x Quantity = Total Revenue, or total expenditureb. TR -Total cost = profitc. Area under demand curve reflects benefits to demanders.d. Area under supply cu
Florida State College - ECP - 3302
Tuesday, Sept. 131.Elasticity - Responsiveness of quantity to change in price.a. Price elasticity of demand - % change in Qd / % change in PCalculation of price elasticity of demand:Use arc elasticity formula: e = (Q2 - Q1)/(Q1 + Q2)/2(P1 - P2)/(P1
Florida State College - ECP - 3302
The benevolence of self-interestCritics of economics often accuse the discipline of viewingpeople as mere optimising machines, as ethical nonentities.The charge would be serious if it were truebut it is in factfalseDec 10th 1998HOW can economists ex
Florida State College - ECP - 3302
Thurday, Sept. 81.From Tuesday:Law of Demand: Price and quantity demanded (Qd) are inversely (or negatively) related- as price rises, quantity demanded falls.Law of Supply: Price and quantity supplied (Qs) are directly (or positively) related - aspr
Florida State College - ECP - 3302
Tues., Sept. 6 Markets cont1. Summary of market and nonmarket goods (from last week):RivalExcludablePrivate goodsyesyesNatural monopoly goodsnoyesCommon property (open access)yesnononoPublic goods2. Markets - Supply and demand; equilibriu
Florida State College - ECP - 3302
Thurs., Sept 1W hatisenvironmentaleconomics?Economics - study of the allocation of scarce resources among alternative uses.Resources in economics factors of production, traditionally land, labor, capital;Used to produce goods and services that provide
Florida State College - ECP - 3302
Tuesday, Aug. 30Economics of Natural Resources, Energy, and the Environment ECP 3302Introduction to the course:What is environmental &amp; natural resource economics; why study it?Economics studies the allocation of scarce resources (like land, labor, cap
MD University College - BI, HEALTH - 251
NEW MEXICO HIGHLANDS UNIVERSITYDepartment of Exercise &amp; Sport ScienceSYLLABUSFall 2007Course:Room:Time:Instructor:URL:Office:Office Hours:Phone:E-mail:Hlth 489/589 (Fitness/Wellness Program Leadership)PE 111MWF 8AM-8:50AMPete LeRoy, Ph.D.
MD University College - BI, HEALTH - 251
MD University College - BI, HEALTH - 251
Chapter 4Carbon and the Molecular Diversity of LifeLecture OutlineOverview: Carbon The Backbone of Biological MoleculesAlthough cells are 7095% water, the rest consists mostly of carbon-based compounds.Carbon is unparalleled in its ability to form la
MD University College - BI, HEALTH - 251
SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question.For the following questions, match the membrane model or description with the scientist(s) who proposed the model.Each choice may be used once, more than o
MD University College - BI, HEALTH - 251
No Calculator Ceiling Skills Test Math 112, Jeff Pettit, Instructor Six of the following thirty entries will be filled (one on each row). The remaining will be blank, to be filled in by the student. The entries wi
MD University College - BI, HEALTH - 251
Age/Type MilkRefrigerated Plain24-hour plain4-Day plain8-Day plainRefrigerated Chocolate24-hour Chocolate4- Day Chocolate8-Day ChocolateEnvironmentCharacteristicspH: 5.5Consitency: LiquidOdor: n/aColor: whitepH: 12.75Consitency: liquidOdo
MD University College - BI, HEALTH - 251
IEA Biochemistry Mock MidtermSpring 20031. Which of the following statements concerning chemical reactions in the human body is incorrect?A. Due to the non-specific nature of enzymes, many reactions are able to be carried out in the humanbody that wou
MD University College - BI, HEALTH - 251
AP Biology Summer Assignment PacketRio Americano 2011-2012Ms. Costello and Ms. BrashearYou will be responsible for knowing the material in Chapters 2, 3, 4, 5, and8 in the AP Biology textbook (Biology eighth edition by Campbell andReece).Attached, y
MD University College - BI, HEALTH - 251
AP Biology Review QuestionsChapter 9 Cellular Respiration_/_NameDateStudents may work together on these questions. Students may use text, notes, and powerpoint in answering these questions.1) What is the term for metabolic pathways that release sto
MD University College - BI, HEALTH - 251
A.P. Biology: Chapter 8 TestMultiple Choice Identify the choice that best completes the statement or answers the question. 1. Choose the pair of terms that correctly completes this sentence: Catabolism is to anabolism as _ is to _. a. exergonic; spontane
MD University College - BI, HEALTH - 251
1.2.3.4.5.6.HLTH 353 Alcohol and Marijuana IssuesPop Quiz 2/2/10On the lines below, number appropriatelyThe U.S. has a problem with alcohol abuse. List three ways our society could successfully combat theproblem.List as many alcohol abuse situa
MD University College - BI, HEALTH - 251
WWS 47-87, p109-2065/23/052:39 PMPage 117Name _ Section _ Date _W E L L N E S S WO R K S H E E T 5 1Is Alcohol a Problem in Your Life?Part I. Do You Have a Problem with Alcohol?To determine if you may have a drinking problem, complete the followin
MD University College - BI, HEALTH - 251
HLTH 321 Sample Quiz over Chapter 121. _ Which of the following are reasons for drug use: A. Experimental or social use;B. Temporary departure from natural non-drug state; C. Misguided attempt to self-medicate;D. Cope with personal problems; E. Drug de
MD University College - BI, HEALTH - 251
1. To figure out the exact pH of a solution, youll need to determine thea.concentration of OH- ions.b.concentration of H+ ions relative to the concentration of OH- ionsc.cooncentration of H+ionsd. ratio of OH- ions to H+ions2. In chemical reactions,w
MD University College - BI, HEALTH - 251
HLTH 213 Nutrition ~ Exam #1Review Dr. Pete LeRoy 2/6/091. The sum total of all the energy required to power cellular processes and activities defines:2. They are polysaccharides and serve as a major source of carbohydrate in the diet; food sources incl
MD University College - BI, HEALTH - 251
Health Education Health Promotion Attitude Survey September 2008Directions: Do not put your name on this survey; write the number of the item which best expresses your opinion on the topicpresented. Please use this legend for your guide to your response
MD University College - BI, HEALTH - 251
HLTH 351 Final Exam Name _ Date _Directions: Write legibly, in the space provided, the letter of the response that you feel is the BEST one to answereach item below.From Chapter One:1. _ When students are empowered to see themselves as being in contro
MD University College - BI, HEALTH - 251
LAB EXERCISE: Enzymes II-AmylaseIntroductionIn the following exercise, you will investigate the influence of enzyme concentration, pH,and temperature on the activity of the enzyme amylase. Amylase is found in the saliva ofmany animals, including human
MD University College - BI, HEALTH - 251
HLTH 213 Nutrition ~ Exam #2 Dr. Pete LeRoy 3/12/08NOTE: if there are any duplicate items, proceed and answer, it is likely an oversight on my part.Directions: Send in ONLY answers by letter where called for via email to: pleroy@nmhu.edu by 9AMWednesda
MD University College - BI, HEALTH - 251
DrugandAlcoholAwarenessDrugandAlcoholAwarenessI.OutlineforTrainingOutlineforTrainingII.III.IV.V.VI.VII.VIII.ImpactofDrug/AlcoholAbuseonSocietyandIndustryA.NationalandRegionalStatisticsonProhibitedDrug/AlcoholUseB.HowDrugUseAffectsIndustrySa
MD University College - BI, HEALTH - 251
HLTH 321 Community Health8/27/07PRECEDE-PROCEEDPRECEDE-PROCEED is a planning model designed by Lawrence Green and Marshall Kreuterfor health education and health promotion programs. Its overriding principle is that mostenduring health behavior change
MD University College - BI, HEALTH - 251
HLTH 213 Nutrition Homework for January 21, 2009:Directions: Follow the directions to a teeAnswer each of the numbered items below andsend them to me via email (pleroy@nmhu.edu) by January 21, 2009. Emails sent after that datewill not be opened and the
MD University College - BI, HEALTH - 251
HLTH 321 Community Health8/27/07PRECEDE-PROCEEDPRECEDE-PROCEED is a planning model designed by Lawrence Green and Marshall Kreuterfor health education and health promotion programs. Its overriding principle is that mostenduring health behavior change
MD University College - BI, HEALTH - 251
HLTH 353 Directions for 10/24/08:Go to http:/www.peteleroi.com/PPT.html, PPT #34 and answer the following questions:1. With distilled spirits, alcohol content is expressed in terms of _ , a number that istwice the percentage of alcohol: 100-proof bourb
MD University College - BI, HEALTH - 251
Biology, 7e (Campbell)Chapter 12: The Cell CycleChapter Questions1) The centromere is a region in which A) chromatids are attached to one another. B) metaphase chromosomes become aligned. C) chromosomes are grouped during telophase. D) the nucleus is l
MD University College - BI, HEALTH - 251
Nutrient Your IntakeNutrient Intake Form If you could not open or see the excel spreadsheet from the Health and FoodAssignment sheets then you may use the below form. You will need to calculate your own valuesplease seethe example provided. You will th
MD University College - BI, HEALTH - 251