Environmental Policy
Faculty
Description
In this lecture, we will describe various environmental problems that we face in the contemporary society, provide economic analyses on social issues associated with these problems, and explain policies to encounter them.
First we will describe environmental problems in general and that of pollution, waste disposals and global warming in particular. We will then examine their implications on the necessity of creating a recycling society, and relationship between global warming, economic development and population explosion. We will further turn to economic analyses of the following problems: static resource allocations such as externality and public goods and dynamic resource allocations such as depletable and renewable resources. We will discuss various policy tools that will resolve these problems, e.g., regulations, Pigovian tax and subsidy, tradable permits, deposit system, as well as their implications on informational asymmetry and international trade. A short discussion of cost-benefit analysis for environmental protection is also planned.