ECON 306

Environmental Economics

This course focuses on the application of economic principles to help understand and manage the relationship between humans and the environment. The central theme is that there are competing demands for our limited natural resources, including the waste assimilation capacity of the environment, necessitating that difficult choices be made regarding how those resources are used. The course illustrates how resources are allocated in a market economy, potential problems from a social perspective with that allocation, and alternative solutions for reallocating resources to achieve more socially desirable outcomes. Issues such as efficiency and externality, benefit-cost analysis, and alternative policy instruments for pollution control are examined. Topics related to global warming, California water resources, and other current environmental policy issues will be discussed as time permits.

Units: 3.0

Hours: 54 hours LEC