Economics of Sustainability Mg

This course builds on core economics courses and addresses issues of environmental, resource and sustainable economics. It focuses on the interaction between markets and the environment; policy issues related to optimal extraction and pricing; property rights in industrial and developing countries and how they affect international trade in goods such as timber, wood pulp, and oil. An important goal of the class is to have students work in groups to apply economic concepts to current public policy issues having to do with urban environmental and earth systems. The use of the worlds water bodies and the atmosphere as economic inputs to production are also examined. The economics of renewable resources is described and sustainable economic development models are discussed and analyzed. Some time will also be devoted to international trade and regulation, and industrial organization issues. Students not only learn economic concepts, but they will also learn how to explain them to decision-makers. The instructor will tailor this course to the skill level of the students in order to most effectively suit the needs of the class.