ECON 377(S) Environmental Policy and Natural Resource Management (Same as Environmental Studies 377)*

This seminar addresses the problems of environmental protection as an element of development policy and planning. It is an application of environmental and natural resource economics to the developing country context. The theory will include market failure, externalities, common property resources and public goods, and intertemporal equity and discounting. Topics will include the use of market-based versus command-and-control policy instruments, property rights regimes, renewable and non-renewable resource management, measurement of environmental benefits and costs, benefit-cost analysis, institutional and policy constraints to sustainable development, and global externalities. The focus of the seminar will be on country-specific cases and the application of analytical techniques to questions of resource management and pollution control, given the trade-offs (or possibly complementarities) between environmental and economic development objectives. Prerequisite: Economics 251. Enrollment limited to 25. This course satisfies the Economics Department's alternative paradigms requirement.