AEM 4510 Environmental Economics (also ECON 4090) (SBA)
Spring. 3 credits. Prerequisites: undergraduate standing; intermediate microeconomics course and calculus. S–U or letter grades. Staff.
Explores the economic foundations for public decision making about environmental commodities and natural resources, using tools from intermediate microeconomics. Emphasizes the welfare economic approach for allocating public goods, with specific emphasis on market failure, externalities, benefit-cost analysis, nonmarket valuation techniques, and cost-effective policy instruments. Also examines property rights/institutional perspectives and ecological economic concepts.