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EM 305: The Economics of Environmental Management. Unit 1 Seminar Let’s do this!!!. Syllabus. Let’s take a look… Any questions?. Introduction. Environmental economics: What does that mean?
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EM 305: The Economics of Environmental Management Unit 1 Seminar Let’s do this!!!
Syllabus • Let’s take a look… • Any questions?
Introduction • Environmental economics: What does that mean? • Environmental economics is the application of the principles of economics to the study of how environmental resources are managed. • But say more…
Environmental Resources • Air • Land • Water • What else?
How can we encourage environmental stewardship? • Incentives • What are incentives? • What are some examples? • Do these really work? • Anything else?
How do you design effective environmental policy? • Do you put the environment above all else? • Do you balance environment with other things (e.g. economy)? • How do you calculate the costs and benefits of your proposed policies? • Who decides what the costs and benefits are? • What about lobbying? • Who can we trust?
Globalization & Sustainability • The world’s getting bigger. • More people, more demand for resources • China, India, and other developing nations • Huge increases in demand for resources, energy, and electricity • Should we be concerned? • If so, what should we do?
The Economy & The Environment • Tradeoff? • Must we try to help one at the expense of the other? • If so, which one prevails? • If not, how do we balance the two? • Who should decide?
But what about costs/benefits that we can’t easily quantify? • Pollution • Clean air/water • Dirty air/water • How do you account for these, when you calculate costs and benefits? How do you put a value/price on clean or dirty air and water? • Anything else hard to quantify?
Unit 1 To-Do List • 1. Introductions: Tell us a little about who you are • 2. Read in your eTextbook: Chapters 1 & 2 • 3. Discussion (25 points): Trade-offs • 4. Seminar (15 points): Economic policies & models • 5. Key Terms • 6. Summary • 7. Quiz • 8. Have a great week!!!