Welcome to ESM 204 The Economics of Environmental Management Purpose of the class to help you solve environmental problems i e to help you solve generic group projects Our goal is to help you see the economic dimensions of environmental problems and use that information to generate solutions Staff Prof Christopher Costello 4410 Bren Hall 893 5802 costello bren Office Hours Monday Tuesday 8 30 9 30 Marc Conte TA 3424 Bren Hall mconte bren Office Hours Tuesday Wednesday 2 00 3 00 PhD student in Bren Plan to attend office hours We want to get to know you Course Vitals Prerequisites Calculus ESM 251 or Econ 100AB 20 lectures Tuesday Thursday 11 00 12 15 1 discussion section per week run by Marc You should be familiar with Excel SOLVER You are expected to attend all lectures and 1 discussion per week Workload Above average Expect 8 10 hours per week outside of class on average Grading Homework Assignments 40 5 6 mini group projects may should work with a partner submit 1 copy with both names Late assignments will not be accepted May not use the same partner twice i e keep moving Work should be your own Do not share outside your team Class section participation 10 Midterm 20 Take Home Distributed Feb 13 Due Feb 15 Final Exam 30 March 22 12 00 3 00 MSI building Cheating plagiarism will not be tolerated Readings Preparation Readings available as a reader Grafikart Some also available on web Several books will be used a lot Recommended only though you may wish to buy Hartwick and Olewiler The Economics of Natural Resource Use 2nd Edition Addison Wesley 1998 Boardman et al Cost Benefit Analysis 2nd Ed Prentice Hall 2001 Kolstad Environmental Economics Oxford 2000 Lower level book Goodstein Preparation Please come to class prepared Preparation read the assignments listed for the day on the webpage I will call on you in class Please help make this an interactive experience Questions Course Approach VERY hands on Every lecture designed to help solve a generic group project Lecture Style Begin with brief overview from last class questions Motivate new material I will always motivate material with a hypothetical group project If I can t think of a good use for the material in a real world groupproject like setting you should not bother learning it Cover new material ask about readings Open discussion throughout What will we cover Course broken into 4 sections 1 2 3 4 Project Evaluation Evaluating public environmental projects and regulations 5 Measuring benefits and costs 3 Environmental Regulation 6 Managing renewable and non renewable resources 5 Section 1 Evaluating Projects and Regulations 1 2 3 4 5 Cost effectiveness vs cost benefit public goods externalities Applications cost effectiveness cost benefit multi objective methods Efficiency surplus doing benefit cost analysis equity vs efficiency Inflation discounting Risk uncertainty Section 2 Measuring benefits and costs 1 2 3 Costs of regulation and the benefits transfer approach travel cost Revealed preference approaches Stated preference approaches constructed markets experiments Section 3 Environmental Regulation 1 2 3 4 5 6 Regulatory options and efficiency Innovative approaches to regulation Incidence of environmental regulations Spatial and temporal dimensions of environmental regulations Monitoring and enforcement Regulatory experience in developed vs developing countries green accounting Section 4 Managing renewable non renewable resources 1 2 3 4 5 Rent water and common property Fishery economics Managing the fishery Forest economics management Non renewable resources and energy
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