11 economics - OUTLINE: ECONOMICS & THE ENVIRONMENT 1....

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OUTLINE: ECONOMICS & THE ENVIRONMENT 1. WHAT IS ECONOMICALLY AFFORDABLE? 2. FREE MARKETS: EXTERNALITIES 3. THE TRAGEDY OF THE COMMONS. 4. GOVERNMENT REGULATIONS 5. THE REAL BENEFITS. Suggested readings: Constanza, et al. 1997. the value of the world’s ecosystem services…. Nature 387:253-260. Daly, H. & J. Farley. 2009. Ecological economics:Principles and applications. Island Press, Chicago, IL
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MAIN THEME OF COURSE TO BE EFFECTIVE, CONSERVATION PLANS MUST BE: 1. SCIENTIFICALLY VALID, 2. POLITICALLY FEASIBLE , 3. ECONOMICALLY AFFORDABLE.
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DEFINITIONS ECONOMICS – ______________________ _________________________________ _____________________________. EFFICIENCY = ______________________ _________________________________
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ALTERNATE APPROACHES 1. IDEAL FREE MARKET ________________________________ ________________________________. 2. GOVERNMENT REGULATIONS .
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No “ideal free market” exists. PROBLEMS:
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This note was uploaded on 02/27/2011 for the course FNR 103 taught by Professor Staff during the Spring '08 term at Purdue University-West Lafayette.

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11 economics - OUTLINE: ECONOMICS & THE ENVIRONMENT 1....

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