Econ 260 - Introduction to Environmental & Natural Resource Economics Syllabus Updated  Jan. 8, 2008

PHIL MARTINEZ

CEN 419C, Phone 463-5358

e-mail: martinezp@lanecc.edu

website: http://teach.lanecc.edu/martinezp

Course Description

This course introduces students to the fundamental framework used by economists to evaluate the inter-relationship between the economy and the natural environment, including natural resources. The course presents the fundamental concepts, methods of economic analysis, and public policy options used in this field. Some of the topics covered are: the economics of pollution and environmental protection; the economics of natural resource extraction and depletion; externalities and public goods; and sustainability and resilience. Methods of economic analysis covered are: cost-benefit analysis; the valuation of environmental services; the precautionary rule; and impact analysis. Some of the policy options considered are: property rights and "takings"; effluent controls; emission charges; permits to pollute; and regulatory restrictions on resource extraction. The course includes contributions to the economic study of the natural environment from the fields of physics, engineering, biology, ethics, law, and ecology. Topics will focus on issues affecting the Northwest: salmon recovery, forestry management practices, dam-breaching, wetlands protection, water quality, etc. There is no pre-requisite.

Course Objectives

Upon the successful completion of the course students should be able to participate in a reasoned discourse of environmental and natural resource policy issues based upon the contributions economic analysis. In particular students are expected to be able to discuss:

the importance of contributions from the fields of physics, biology, ecology, ethics, engineering, etc. to the study of E&NR Economics, particularly in the areas of modeling;

the importance of thermodynamics to a materials balance analysis of the economy;

the role of ethics in environmental policy decision-making;

the relationship of externalities, public goods, and other market imperfections to pollution, resource depletion, and valuation of environmental goods and services.

cost-benefit, cost effectiveness and impact analysis;

the "precautionary principle", the "Coase Theorem", "Hotellings Law", the "tragedy of the commons", Neo-classical sustainability, ecological sustainability, and resilience

the meaning of the "optimal level of pollution", and the "optimal rate of harvest";

different methods of measuring environmental quality and natural resource valuation.

various methods of public policy intervention used to protect environmental quality and to regulate natural resource protection covered in the course;

any other issues raised in the course.

Requirements

Attendance is critical. Economics is a difficult class to learn purely by reading the text. Regular attendance will be necessary to receive assignments on a timely basis. Students who miss classes tend to produce significantly lower scores.

Grades:  Grades will be based upon evidence of the student's degree of mastery and competence in the discourse of the material covered in the course.

Students take a series of take-home short essay exams, covering the concepts, debates, theories, analyses, contributors and policy options covered in the course, including lectures, guest presentations, and discussions.

Extra Credit There will be the opportunity for students to earn extra credit for attending educational activities relevant to the course outside of the regularly scheduled classtime. The instructor will announce these events during lecture. To earn the extra credit points the student  must submit a 2 page  (one sheet front and back, typed...) report of the  event. The report shoulod include

- a brief summary of the event;
- a brief summary of its relevance to the course content; and,
-  a commentary or evaluation of the event as it pertains to the course.

Extra Credit is limited to 10% of the course grade. No more than 5 extra credit reports may be submitted. No more than 3 extra credit reports may be submitted form the same event or source (e.g. a conference).

All other grade options (Pass/No Pass, Incomplete, Audit, Drop) are the responsibility of the student. Students wishing to "Drop" the course must do so through Class Line. Students wishing to take an "Incomplete" must request this grade option in writing from the instructor prior to the submission of grades during finals week.

Disability Services

If you need support or assistance because of a disability, you may be eligible for academic accommodations through Disability Services. For more information, contact Disability Services at (541) 747-4501, ext. 2150, or TTY 741-3079, or stop by Building 1, Room 218.

Texts

There is a large and growing literature in this field of economics. Besides the following texts, material handed out in class will be considered required reading.

Required Text:

Environmental and Natural Resource Economics:
AContemporary Approach, 2nd Edition
Jonathon M. Harris; Houghton Miflin; (2006)

Optional/Recommended Text:

Valuing the Earth: Economics, Ecology, Ethics,
Herman E. Daly and Kenneth N. Townsend; MIT Press.