ECON 8545
Administrative procedures; market approaches; of general applicability to environmental problems; aimed at the first party participant.
Environmental Economics considers the efficient and equitable use of society's scarce environmental resource. Environmental resources include: air, water, land wilderness areas, parks wildlife and genetic diversity, and other scarce ecological systems. Use of these resources will be considered from three perspectives: the market allocation, the optimal allocation, and government attempts to achieve a more efficient and equitable allocation. Environmental Economics is a course in applied welfare economics and will consider externalities (particularly with respect to pollution) and the economic evaluation of amenities 9recreational and environmental) in detail.