ECON 260 Introduction to Environmental and Natural Resource Economics

This course introduces the fundamental economic concepts, methods, and policy options used to analyze the interaction between the economy and the natural environment, including natural resources. Major topics covered include the economics of: pollution and environmental protection; resource extraction and depletion; externalities and public goods; and sustainability and resilience. Methods of economic analysis introduced include: cost-benefit analysis; valuation of environmental services, and impact analysis. Policy options considered include: property rights, effluent controls, emission charges, tradable pollution permits, and regulatory restrictions.

Credits

4

Course Learning Outcomes

Upon successful completion of this course, the student will be able to:
1. Apply analytical skills to social phenomena in order to understand human behavior: Apply scientific, economic analytical methods to evaluate the inter-relationship between the economy and the natural environment, including natural resources; Analyze and assess public policy options and outcomes as related to environmental issues including pollution and resource use; Analytical methods include: benefit-cost analysis, valuation, discounting, precautionary rules, impact analysis
2. Apply knowledge and experience to foster personal growth and better appreciate the diverse social world in which we live: Identifies and incorporates multi-disciplinary contributions to the economic study of the natural environment from the fields of physics, engineering, biology, ethics, law, and ecology; Topics will focus on issues affecting the Northwest: salmon recovery, forestry management practices, dam-breaching, wetlands protection, water quality, water management
3. Understand the role of individuals and institutions within the context of society: Evaluate and explain the inter-relationship between the economy and the natural environment, including natural resources; Evaluate and explain the relationship between inter-generational and intra-generational equity issues with respect to pollution, resource use, depletion, sustainability; Evaluate and explain the role of market, regulatory, legislative, and judicial oversight of economic and environmental activities
4. Assess different theories and concepts, and understand the distinctions between empirical and other methods of inquiry: Compare and contrast contrary interpretations of efficient market theory, market failure; Compare and contrast the contributions to environmental economic analysis from physics, engineering, biology, ethics, law, and ecology; Evaluate various standard economic modeling methods
5.Utilize appropriate information literacy skills in written and oral communication. Formulate a problem statement; Determine the nature and extent of the information needed to address the problem; Evaluate information and its source critically; and understand many of the economic, legal and social issues surrounding the use of information: Apply scientific, economic analytical methods to evaluate the inter-relationship between the economy and the natural; Analytical methods include: benefit-cost analysis, valuation, discounting, precautionary rules, impact analysis. Compare and contrast contrary interpretations of efficient market theory, market failure; Compare and contrast the contributions to environmental economic analysis from physics, engineering, biology, ethics, law, and ecology
6. Understand the diversity of human experience and thought, individually and collectively: Identifies and discusses wide range of individual contributors to the development of Environmental Economics
7. Apply knowledge and skills to contemporary problems and issues: Assess issues affecting the Northwest: salmon recovery, forestry management practices, dam-breaching, wetlands protection, water quality, water management; Assess policy options including: property rights; effluent controls; emission charges; pollution permits; simulated markets; and regulatory restrictions on resource extraction