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ENNEC_100_fall_09_syllabus-rj - ENNEC 100 Introduction to...

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1 ENNEC 100 Introduction to Energy and Earth Science Economics Fall 2009, MWF 11:15-12:05 pm, 75 Willard Instructor: Professor R. J. Briggs, 123 Hosler, 863-1640, [email protected], Office hours : MW, 1:30-3:30 pm (tentative) or by appointment. Format: This class introduces the economic method of analysis to the environmental and resource questions facing society. It emphasizes thinking about the advantages and limitations of using markets and incentives to achieve environmental goals. Throughout the course, we will return often to the following big questions: 1) What advantages can be gained by using market forces? 2) What are the drawbacks of the market (“market failures”) that may lead to a rationale for government intervention? 3) What are the drawbacks of using government intervention (“government failure”)? 4) Can we tell when a market-based solution has been a failure or a success? Can we tell when regulation or other government intervention has been a failure or a success? Throughout the course, we will use several real-life examples to address these questions. The material will be presented through lectures/discussions and classroom experiments. A reading packet will be available in the bookstore. This class is the first class in the major in Energy, Business, and Finance, the minor in Global Business Strategies, and a General Education elective. Students in the Engineering and IST Colleges may be able to use this class to substitute for ECON 002 or 004. (Please check with your advisor.) The class will offer six homework assignments, four quizzes, two mid-term exams and a final exam in the course. Quizzes, exams and homework problems are based on problem
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2 solving and analysis of relevant economic questions. This implies you will have to explain your answers and show your work to gain proper credit. If you use graphs and tables in your answers, they must be clearly labeled. There will be no multiple-choice quizzes, exams or assignments in this course. Grading: Quizzes (best 3 out of 4): 15% (all quizzes get equal weight) Homework : 25% (all assignments get equal weight) Mid-Term Exams: 30% (both exams get equal weight) Final Exam : 30% No extra credit assignments will be offered for the course. Homework : There will be one homework assignment roughly every two and a half weeks throughout the semester. You will generally have one week to hand in homework. Homework is due at the beginning of class in hard-copy form on the specified due date.
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