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AEM 2500 Lec1 8-25-10 sv

AEM 2500 Lec1 8-25-10 sv - Poe AEM 2500 Fall 2010...

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Poe, AEM 2500, Fall 2010, 08/25/10 1 Environmental and Resource Economics AEM 2500 Fall Semester, 2010 MWF 9:05 – 9:55 Riley-Robb 125 http://blackboard.cornell.edu P f G L P Prof. Gregory L. Poe “Environmental Economics”, “Resource Economics” and “Ecological Economics” Are They Oxymorons ?
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Poe, AEM 2500, Fall 2010, 08/25/10 2 People Confuse Economy with Economics Economics: Environmental and Resource Economics, AEM 2500 The objectives of this course are: – To introduce fundamental economic principles and the “economic approach” to policy issues economic approach to policy issues. – To demonstrate how these concepts underpin contemporary environmental and natural resource issues and policy solutions. – To enable you to “think like an economist” with respect to environmental and resource economic issues. With these foundations you will hopefully be able to make With these foundations, you will hopefully be able to make an informed, personal decision about the role and limits of economic approaches to environmental policies.
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Poe, AEM 2500, Fall 2010, 08/25/10 3 Environmental and Resource Economics, AEM 2500 I. Foundations (Aug. 25 to Sept. 29) - The role and limits of environmental and natural resource economics. - Market success and efficiency – how markets work. - Market Failure: externalities, public goods and the tragedy of the commons. II. Environmental Economics (Sept. 29 to Nov. 3) - Efficiency: “optimal” level of pollution, benefit-cost analysis, non-market valuation.
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