The course will examine key topics in environmental economics with a focus
upon the following questions:

(1) What is efficient and sustainable use of the environment?

(2) What prevents us from sustainably managing the environment?

(3) What approaches can we use to improve environmental management?

The course includes material on environmental valuation, economics of
pollution control and regulation, property rights and incentives, dynamic
environmental management, and global environmental problems.

Upon successful completion of this course students will have:

* demonstrated a working knowledge of the principles and methods of
environmental valuation
* analysed the relative merits of several types of environmental regulation in
various contexts
* conducted a policy evaluation of a major environmental issue
* understood the role of property rights, institutions, and incentives in
environmental problems
* modelled dynamic environmental management both mathematically and
computationally

Midterm exam 25%, term paper 35%, final examination 40%

2 hours lecture and 1 hour tutorial per week