Courses:

ECON 781: Environmental Economics
This course covers the theory and practice of valuing environmental benefits. This includes the health, recreation and aesthetic benefits associated with controlling air and water pollution, and the damages associated with climate change. Although most of the course is focused on the United States, environmental policies in developing countries will also be covered.

ECON 785: Advanced Economics of Natural Resources
The course studies the use of exhaustible and renewable natural resources from normative and positive points of view. Analysis of dynamic resource problems emphasizing energy, mineral, groundwater, forestry, and fishery resources are also covered, as well as optimal, equilibrium, and intergenerational models of resource allocation.

AREC 869W: Environmental Taxation and Regulation
This course examines the economics of policies to address environmental externalities. Topics include the theory of public goods and externalities, cost-benefit and cost-effectiveness analysis of environmental regulations, regulatory instrument choice under uncertainty, environmental policy in an economy with pre-existing tax distortions, monitoring and enforcement of environmental regulations, distributional effects of environmental policy, and regulation of intertemporal externalities.

Field Requirements in Environmental and Natural Resource Economics

Major field: ECON 781, ECON 785 and AREC 869W (Environmental Taxation and Regulation). Students may propose a graduate course in AREC (e.g. Environment and Development Economics) in lieu of one of the courses listed above; faculty will consider such requests on a case by case basis.

Average grade of B+ or better in the courses.

Field exam where students must synthesize the literature on a particular topic and
elaborate on its policy implications. There will be an "environmental" topic and a
"natural resource" topic to be chosen from a list specified in advance of the exam. A paper containing original analysis on a topic relevant to the field may be submitted in lieu of the field exam. Students must consult with faculty in advance if they wish to pursue this option.

Minor field: Two of ECON 781, ECON 785 and AREC 869W (Environmental Taxation and Regulation). Students may propose a graduate course in AREC (e.g. Environment and Development Economics) in lieu of one of the courses listed above; faculty will consider such requests on a case by case basis.

Average grade of B+ or better in the courses or pass the field exam. A paper containing original analysis on a topic relevant to the field may be submitted in lieu of the field exam. Students must consult with faculty in advance if they wish to pursue this option