Courses, Economics Major | Northwestern University School of Professional Studies - Northwestern School of Professional Studies

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Economics courses carry social science credit.

ECON 372-CN : Environmental Economics

Description

The environment and our natural resources are scarce yet their values are quite hard to determine. Furthermore, there are a variety of problems with the incentives to use them well. Using the tools of microeconomic analysis and some econometrics, this course will define and examine "environmental problems" in terms of economic efficiency. We will also discuss the methods (and shortcomings of these methods) used by economists and policymakers to place dollar values on environmental amenities (since such valuations will determine what policy options are deemed "efficient"), such as benefit-cost analysis. Then we will apply these tools to look at a particular set of environmental problems caused by negative externalities transmitted through naturally occurring amenities, and the effects of the policies we construct in response to these problems. May not be audited. Prerequisites: ECON 281, ECON 310-A, ECON-B.