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Introduction to Environmental Policy Analysis (ESM 251) Fall 2007 Professor:
Matthew Kotchen Office: 4420
Bren Hall Phone:
805-893-8668 Email: Class
meetings: Beginning Nov. 1, Tu & Th 9:30 – 10:55 am, 1414 Bren Hall Office hours:
W 2:00 – 3:30 or by appointment Teaching
Assistant: Marc Conte Office: 3424
Bren Hall Phone:
805-893-8491 Email:
mconte@bren.ucsb.edu Discussion
sections: M 8:30 – 9:20 am and 2:00 – 2:50 pm, 1424 Bren Hall Office Hours:
Tu 2:00 – 3:00 pm and W 11:00 – 12:00 am or by appointment Course Objectives The
overall goals of this short course are to provide an introduction to the
theory of environmental policy and to some of the conceptual methods of
policy analysis. The course begins with an overview (review) of microeconomic
analysis. We will study how the forces of supply and demand determine prices
and the allocation of scarce resources. We will focus on how markets work,
why they may fail to work, and the policy implications of both their
successes and failures. While the emphasis of the course will be on policy
analysis from the perspective of economic efficiency, we will consider the
implications of alternative evaluative criteria—cost effectiveness, equity,
ecological sustainability, robust strategies, among others. After taking the
course, students will have the necessary background and context in which to
pursue further studies in ESM 204 and ESM 241. Course Materials Most
of the reading from the course will be taken from N. Gregory Mankiw’s text Principles of Microeconomics. Any
edition of the text will work, and used copies are generally available and
easily affordable. Just keep in mind that assignments will be based on the
chapter designations in the 3rd edition.
Additional readings will be assigned and made available online. Course Requirements You
are expected to complete all of the assigned
reading before class, as lectures will build on rather than reiterate
reading material. There will be four
problem sets. You may work on the problem sets in groups; however, you
are responsible for writing your own answers, in your own words. Working
through the problem sets will help you to understand the material and prepare
for the final exam. Hard copies of completed problem sets should be turned in
to Marc’s mail box before 5:00 pm on the date that they are due. Tentative problem set due dates: Nov 14, 21, 28 and Dec 5. Final exam:
Monday, Dec. 10 at 2:00 – 4:00 pm, 1424 Bren Hall Course Grades Course grades
will be based on the problem sets (40%) and the final exam (60%). Course Outline and Reading List Introduction
Markets and Efficiency Demand, Supply, and
Equilibrium in a Perfectly Competitive Market
Elasticity
Welfare Economics
Selected Sources of Market
Failure Externalities
Public Goods and Common
Pool Resources
International Trade
Sustainability and
Alternative Evaluative Criteria
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