Econ 1360: Environmental Economics

University of Pittsburgh Spring 2012

Instructor: Dr. Erin Kaplan Class Times: T/R 2:30 – 3:45 Email: ekaplan@pitt.edu Location: 206 Eberly Hall Office Hours: M 3:00pm – 4:00pm Office: Posvar Hall 4918A

W 11:00am – 12:00pm Or by appointment

Course Information Course Description: This course applies microeconomic theory to topics concerning natural resources and the environment. By the end of the course students will be expected to demonstrate a broad knowledge of contemporary environmental issues, an understanding of the practical application of economic theory to evaluate environmental problems, and the ability to think critically about potential policy solutions. Course Materials:

Textbook: “Environmental Economics” 2nd Ed. By Charles D. Kolstad

CourseWeb: All assignments and course announcements will be posted on CourseWeb. Please check the course page frequently.

Student Learning Outcomes: By the end of the semester students who successfully complete this course will be able to

1. Explain the causes of environmental problems using microeconomic theory.

2. Apply various economic tools of valuation to environmental problems, and compare different methods of valuation.

3. Assess the costs and benefits of various policy instruments available for

correcting environmental problems as well as the associated incentive structures.

4. Discuss complexities in environmental problems involving uncertain, dynamic,

strategic, international and/or intergenerational issues. 5. Analyze a particular environmental issue, working with a team to apply various

concepts learned throughout the course.

Course Policies Attendance: Lecture attendance is highly recommended, but does not directly figure into your grade. If absent, you are responsible for obtaining any material discussed or handed out in lecture. Office Hours: Students are encouraged to attend office hours to discuss questions about the material covered in lecture. If you have questions but are unable to attend my scheduled office hours, please contact me to set up another time to meet. Cheating and Academic Misconduct Academic misconduct includes the following examples as well as any other similar conduct which is aimed at falsely representing a student's academic performance: cheating, plagiarizing, unauthorized collaborating on course work, stealing course examinations or materials, falsifying records or data, or intentionally assisting another individual in any of the above. If you are caught cheating on an exam or an assignment, you will receive a zero on the exam or assignment. In addition, the event will be reported to the Office of Judicial Affairs and may lead additional actions from the University. Use of Electronics: The use of cell phones during lectures is a disrespectful distraction to your instructor and other classmates. Use of laptops for activities other than note taking is equally distracting. Please turn your cell phone and other electronic devices off while you are in class. In emergency situations, please discuss limited use of cell phone with me prior to the class during which you would like to use your cell phone. Email: In general, email is the best way to get in contact with me. However, if you send me an email within 24 hours of an exam or homework deadline, don't expect me to respond before the exam/due date. Disability Services: If you have a disability, please contact me and the Office of Disability Resources and Services (DRS), 216 William Pitt Union, 412-648-7890/412-383-7355 (TTY) as early as possible in the term. DRS will verify your disability and determine reasonable accommodations for this course. Policy on Missed Exams: Out of fairness to everyone in the class, exams are only given at the assigned time. If you cannot attend an exam due to a personal emergency outside your control, please let me ASAP.

Course Grades Problem Sets (15%) There will be 6 problem sets, each designed to help you review important topics and practice applying the methods taught in class to specific problems. Each assignment will be posted online at least 1 week prior to its due date. Students are strongly encouraged to work in groups on the problem sets; however, each student is individually responsible for completing and turning in the assigned work. The assignments will be graded on both effort and correctness. Solutions to all questions will be posted on CourseWeb. No late work will be accepted, but I will drop your lowest problem set score. Tests (45%) There will be three equally weighted examinations, so each exam will be worth 15% of your grade. The exams are tentatively scheduled for September 27th, October 25th, and November 20th. Group Project (40%) Groups of 3 students will select and study an environmental issue over the course of the semester. The end product of your group work will be a 7-10 page paper and a 15-20 minute presentation on your chosen topic. In addition, there will be a few small deadlines throughout the term to make sure your group is on track. Each member of the group is expected to contribute substantially to the final product, and each person will have an opportunity to evaluate fellow group members at the end of the term.

Tentative Schedule

Readings Due Dates Date Lecture Topics Ch. pp. PS Project

Aug. 28 Economics and the Environment 1 3-15 Aug. 30 Social Choice 3 43-63 Sept. 4 Efficiency and Markets 4 69-77 Sept. 6 77-86 Sept. 11 Market Failure 5 89-103 Topics Sept. 13 Natural Resource Economics - PS1 Sept. 18 Non-Renewable Resources - Sept. 20 Renewable Resources - Sept. 25 Cost-Benefit Analysis 6 119-125 PS2 Sept. 27 Test 1

Oct. 2 Demand for Environmental Goods 7 133-140 145-148

Oct. 4 Hedonic Valuation & Household Production 8 152-156 161-164 171-173

9 187-189 Oct. 9 NO CLASS: Fall Break Schedule

Oct. 11 Constructed Markets 10 199-201 207-214 PS3 Outlines

Oct. 16 Government Regulation I 11 13

223-231 272-280

Oct. 18 Government Regulation II 12 241-251 255-258

Oct. 23 Property Rights 13 262-272 PS4 Oct. 25 Test 2

Oct. 30 Regulation Over Space and Time 14 284-291 293-295

Nov. 1 Regulation with Unknown Control Cost 15 304-319

Nov. 6 Enforcement and Voluntary Action 16 17

332-335 346-348 PS5

Nov. 8 Managing Risk and Uncertainty 18 367-374 388-392

Nov. 13 18 379-388 First Draft

Nov. 15 International and Interregional Competition 19 397-401 410-418 PS6

Nov. 20 Test 3 Nov. 22 NO CLASS: Thanksgiving Break Nov. 27 Group Presentations Final Draft Nov. 29 Group Presentations Dec. 4 Group Presentations Dec. 6 Group Presentations Please note that this schedule is subject to change. Any changes will be announced both in class as well as on CourseWeb.

Econ 1360 Environmental Economics

University of Pittsburgh Fall 2013

Instructor: Dr. Paul J. Noroski Class Times: T/Th 2:30-3:45 Email: PJN5@pitt.edu Location: LAWRN 00106 Office Hours: T/Th 12:30-1:30 Office: WWPH 4918-A and by appointment.

Course Information Course Description: This course applies microeconomic theory to topics concerning natural resources and the environment. By the end of the course, students will be expected to demonstrate a broad knowledge of contemporary environmental issues, and understanding of the practical application of economic theory to evaluate environmental problems, and the ability to think critically about potential policy solutions. Course Materials: Textbook: "Environmental Economics" 2nd Ed. by Charles D. Kolstad. CourseWeb: Check here often for assignments, exam dates, etc. Student Learning Outcomes: By the end of the course, students should be able to 1. Explain the causes of environmental problems using microeconomic theory.

2. Apply various economic tools of valuation to environmental problems, and compare

different methods of valuation.

3. Assess the costs and benefits of various policy instruments available for correcting

environmental problems as well as the associated incentive structures.

4. Discuss complexities in environmental problems involving uncertain, dynamic,

strategic, international, and/or intergenerational issues.

Course Policies Attendance: Although attendance will not figure directly into your grade for the semester, you are highly encouraged to attend class. You will be responsible for getting any notes or materials for any lectures that you miss. Office Hours: Students are encouraged to attend office hours to discuss any of the course content. If you are unable to meet during office hours, contact me so that we may coordinate another time to meet. Cheating and Academic Integrity: All students are expected to adhere to the standards of academic honesty. Any student engaged in cheating, plagiarism, or other acts of academic dishonesty would be subject to disciplinary action. Any student suspected of violating this obligation for any reason during the semester will be required to participate in the procedural process, initiated at the instructor level, as outlined in the University Guidelines on Academic Integrity http://www.pitt.edu/~provost/ail.html. This may include, but is not limited to the confiscation of the examination of any individual suspected of violating the University Policy. If you are caught cheating on an exam or an assignment, you will receive a zero on the exam or assignment. In addition, the event will be reported to the Office of Judicial Affairs, which may lead to additional actions from the University. Use of Electronics: The use of cell phones during lectures is a disrespectful distraction to your instructor and other classmates. Use of laptops for activities other than note taking is also distracting. Please turn your cell phones and electronic devices off while in class. In emergency situations, please discuss limited use of cell phone with me prior to the class during which you would like to use your cell phone. Email: My Pitt Email is typically the best way to get in touch with me. Try to plan ahead so that you can ask me questions well before any graded assignments are due. For example, please don't Email questions about problem sets and exams the night before they're due (or, if you do, realize that I might not be able to respond in time). Disability Services: If you have a disability, please contact me and the Office of Disability Resources and Services (DRS), 216 William Pitt Union, 412-648-7980/412-383-7355 (TYY) as early as possible in the term. DRS will verify your disability and determine reasonable accommodations for this course.

Policy Regarding Missed Exams: Out of fairness to everyone in the class, exams are only given at the assigned time. If you cannot attend an exam due to a personal emergency outside your control, please let me know as soon as possible.

Course Grades Your grade in the course will be a weighted average of problem set scores, papers, and three exams. The particular weights are given by

Problem Sets and Papers: 25% Exam I: 25% Exam II: 25% Exam III: 25%

The exams will be based on material from the lectures and from the book. The format will be a combination of multiple choice questions and problems. None of the exams will be comprehensive. Note that the exams make up 75% of your grade. The final exam will be held on Monday, December 9th from 2:00-3:50 PM as scheduled by the office of the registrar. Periodically, I'll assign problem sets relevant to the course material. In addition to this, I'll periodically assign writing assignments. Each problem set and written assignment will be equally weighted with respect to your grade. As a whole, problem sets and papers will make up 25% of your grade.

Econ 1360 Environmental Economics

University of Pittsburgh Spring 2015

Instructor: Dr. Paul J. Noroski Class Times: M/W 3:00-4:15 Email: PJN5@pitt.edu Location: WWPH 1501 Office Hours: T/Th 12:30-2:30 Office: WWPH 4918-A and by appointment.

Course Information Course Description: This course applies microeconomic theory to topics concerning natural resources and the environment. By the end of the course, students will be expected to demonstrate a broad knowledge of contemporary environmental issues, and understanding of the practical application of economic theory to evaluate environmental problems, and the ability to think critically about potential policy solutions. Course Materials: Textbook (Recommended): "Environmental Economics" 2nd Ed. by Charles D. Kolstad. CourseWeb: Check here often for assignments, exam dates, etc. Student Learning Outcomes: By the end of the course, students should be able to 1. Explain the causes of environmental problems using microeconomic theory.

2. Apply various economic tools of valuation to environmental problems, and compare

different methods of valuation.

3. Assess the costs and benefits of various policy instruments available for correcting

environmental problems as well as the associated incentive structures.

4. Discuss complexities in environmental problems involving uncertain, dynamic,

strategic, international, and/or intergenerational issues.

Course Policies Attendance: Although attendance will not figure directly into your grade for the semester, you are highly encouraged to attend class. You will be responsible for getting any notes or materials for any lectures that you miss. Office Hours: Students are encouraged to attend office hours to discuss any of the course content. If you are unable to meet during office hours, contact me so that we may coordinate another time to meet. Cheating and Academic Integrity: All students are expected to adhere to the standards of academic honesty. Any student engaged in cheating, plagiarism, or other acts of academic dishonesty would be subject to disciplinary action. Any student suspected of violating this obligation for any reason during the semester will be required to participate in the procedural process, initiated at the instructor level, as outlined in the University Guidelines on Academic Integrity http://www.pitt.edu/~provost/ail.html. This may include, but is not limited to the confiscation of the examination of any individual suspected of violating the University Policy. If you are caught cheating on an exam or an assignment, you will receive a zero on the exam or assignment. In addition, the event will be reported to the Office of Judicial Affairs, which may lead to additional actions from the University. Use of Electronics: The use of cell phones during lectures is a disrespectful distraction to your instructor and other classmates. Use of laptops for activities other than note taking is also distracting. Please turn your cell phones and electronic devices off while in class. In emergency situations, please discuss limited use of cell phone with me prior to the class during which you would like to use your cell phone. Email: My Pitt Email is typically the best way to get in touch with me. Try to plan ahead so that you can ask me questions well before any graded assignments are due. For example, please don't Email questions about problem sets and exams the night before they're due (or, if you do, realize that I might not be able to respond in time). Disability Services: If you have a disability, please contact me and the Office of Disability Resources and Services (DRS), 216 William Pitt Union, 412-648-7980/412-383-7355 (TYY) as early as possible in the term. DRS will verify your disability and determine reasonable accommodations for this course.

Policy Regarding Missed Exams: Out of fairness to everyone in the class, exams are only given at the assigned time. If you cannot attend an exam due to a personal emergency outside your control, please let me know as soon as possible.

Course Grades Your grade in the course will be a weighted average of problem set scores, papers, and three exams. The particular weights are given by

Problem Sets: 25% Exam I: 25% Exam II: 25% Exam III: 25%

The exams will be based on material from the lectures. The format will be a combination of multiple choice questions and problems. None of the exams will be comprehensive. Note that the exams make up 75% of your grade. The final exam will be held on the last day of class (Wednesday, April 15th), in the same room as lecture (WWPH 1501). Periodically, I'll assign problem sets relevant to the course material. Each problem set will be equally weighted. As a whole, problem sets and papers will make up 25% of your grade.

Econ 1360: Environmental Economics (Spring 2016)

Randall Walsh 4511 W.W. Posvar Hall

walshr@pitt.edu 412 648-1737

Office Hours: TBA

Course Description: Environmental Economics covers wide ranging topics from air pollution and global climate change to forestry on the land and fisheries in the ocean. We will conduct a careful study of the analysis of environmental policies; covering topics including valuing environmental quality, cost-benefit analysis, the design of regulation and the management of natural resources.

Textbook: Charles Kolstad, Environmental Economics (2nd Edition): ISBN: 9780199732647

Grading: 4 Quizzes @ 6% each 24%

1 “Stump Speech” 6%

1 Mid-Term Exam 30%

1 Final Exam 40%

Lectures: Most lectures will tie relatively closely to, but will not perfectly track, the textbook material. Additional reading material will be provided via courseweb as background for topics not covered in the text (for example the lectures on resource economics). Lecture slides will be posted on courseweb.

Homework:

I will assign occasional homework assignments. These assignments will be posted on courseweb. Answer keys will also be posted (with a several day delay). These homework assignments will not be graded but will help students prepare for the quizzes and exams.

Quizzes: Four 20 minute in-class quizzes will be given during the semester. Target dates for these quizzes are listed in the course schedule below. Actual quiz dates may very slightly from their target dates depending on the rate at which we are moving through the course material.

Stump Speech: At the end of the class, each student will be required to identify an environmental problem/issue and present a 5 minute talk suggesting a solution to the problem that is rooted in the previously covered course content. Each student will present their stump speech to the class during one of the four final class periods followed by a short Q&A session. One goal of this exercise is to help prepare students for job market and their transition into the “real world”. As such, having an audience is important. However, I recognize that there is an opportunity cost to student time, and so students will only be required to attend two of the four “stump speech” classes. I will be taking attendance for these classes. Failure to attend at least two will result in a student receiving no credit for their stump speech.

Course Schedule

Week of Tuesday Thursday

1/4/2016 NO CLASS Introduction Lecture

1/11/2016 Social Choice Efficiency & Markets

1/18/2016 Market Failure Market Failure (Public Goods Game)

1/25/2016 Cost-Benefit Analysis Demand for Environmental Goods

2/1/2016 Hedonic Price Methods Household Production

2/8/2016 Constructed Markets (Quiz # 1) Regulating Pollution

2/15/2016 Emission Prices & Fees Emission Prices & Fees

2/22/2016 Property Rights Issues in Regulation (Quiz # 2)

2/29/2016 Issues in Regulation Mid-Term Exam

3/7/2016 NO CLASS NO CLASS

3/14/2016 Resource Economics I Resource Economics II

3/21/2016 Resource Economics III International Competition (Quiz # 3)

3/28/2016 Environment & Growth Climate Change Economics I

4/4/2016 Climate Change Economics II Climate Change Economics III (Quiz # 4)

4/11/2016 Stump Speeches Stump Speeches

4/18/2016 Stump Speeches Stump Speeches

Student Opinion of Teaching Surveys Students in this class will be asked to complete a Student Opinion of Teaching Survey.

Surveys will be sent via Pitt email and appear on your CourseWeb landing page during

the last three weeks of class meeting days. Your responses are anonymous. Please take

time to thoughtfully respond, your feedback is important to me. Read more about Student

Opinion of Teaching Surveys.

University Policies: Academic Integrity

Students in this course will be expected to comply with the University of Pittsburgh's

Policy on Academic Integrity. Any student suspected of violating this obligation for any

reason during the semester will be required to participate in the procedural process,

initiated at the instructor level, as outlined in the University Guidelines on Academic

Integrity. This may include, but is not limited to, the confiscation of the examination of

any individual suspected of violating University Policy. Furthermore, no student may

bring any unauthorized materials to an exam, including dictionaries and programmable

calculators.

Disability Services

If you have a disability for which you are or may be requesting an accommodation, you

are encouraged to contact both your instructor and Disability Resources and

Services (DRS), 140 William Pitt Union, (412) 648-7890, drsrecep@pitt.edu, (412) 228-

5347 for P3 ASL users, as early as possible in the term. DRS will verify your disability

and determine reasonable accommodations for this course.

Copyright Notice

Course materials may be protected by copyright. United States copyright law, 17 USC

section 101, et seq., in addition to University policy and procedures, prohibit

unauthorized duplication or retransmission of course materials. See Library of Congress

Copyright Office and the University Copyright Policy.

Statement on Classroom Recording

To ensure the free and open discussion of ideas, students may not record classroom

lectures, discussion and/or activities without the advance written permission of the

instructor, and any such recording properly approved in advance can be used solely for

the student’s own private use.