At the end of the lecture the students are able to understand and apply the economic methods used by environmental economists. In detail, the lecture deals with fundamental economic topics like property rights, externalities, the benefit-cost analysis and other decision-making metrics as well as methods for valuing the environment.
Table of Contents
Chapter 1: The Economic Approach: Property Rights, Externalities, and Environmental Problems
Chapter 2: Evaluating Trade-Offs: Benefit–Cost Analysis and Other Decision-Making Metrics
Chapter 3: Valuing the Environment: Methods
Chapter 4: Dynamic Efficiency and Sustainable Development
Chapter 5: Depletable Resource Allocation: The Role of Longer Time Horizons, Substitutes, and Extraction Cost