EC 133: Economics of Environmental Policy Department of Economics University of Vermont

Fall 2009
EC 133: Economics of Environmental Policy
Department of Economics
University of Vermont
Instructor
Email
Schedule
Prereq
Donna Ramirez Harrington
[email protected]
MWF 1:55-2:45 pm
EC 11 and EC 12, no exceptions
Office
Office Hours
Classroom
233 Old Mill Bldg.
11:00-12:00 MW/ by appt
L403 Lafayette
Course Objectives
The objective of the course is two-fold: (1) to introduce students to the basic principles of
environmental economics and (2) to illustrate types and effectiveness of environmental regulations by
providing timely examples of environmental issues and policies.
Instruction and Learning Materials
Textbook: (Required)
Scott J. Callan and Janet M. Thomas, Environmental Economics and Management: Theory, Policy and
Applications, 4th Edition, 2007
ISBN-10: 0324320671 ISBN-13: 9780324320671
Learning Tool: (Required)
Scott J. Callan and Janet M. Thomas, Resources and Learning Tools in Environmental Economics, 4th
Edition
ISBN-10: 0324360150 | ISBN-13: 9780324360158
Blackboard
The course will utilize Blackboard for extra instructional materials, announcements, and other pertinent
information. You are expected to check Blackboard regularly. Extra readings which may be assigned
may be distributed in class, may be made available at the Library or be made available in Blackboard.
Approaches
Lecture/Discussion
We will have a mix of lectures, discussions, in-class exercises and some games. The very beginning of the
semester will mostly be in lecture format. Case studies and group exercises later in the semester will
open up the format to more participatory and interactive modes.
Theory/Practice
From the title of the course we will have both theory and practical applications. The first part will
present the theory using standard economic concepts of supply, demand, markets, and efficiency. The
second part will cover real-world examples of environmental problems and policies and regulations
used to address them.
Intuition/Graphs/Algebra/Essay
In this course we will use and master a mix of techniques to analyze environmental issues using
economic concepts. We will provide economic intuition, illustrate them graphically, and then solve
simple algebraic problems.
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Fall 2009
Grading System
25% Midterm 1
25% Midterm 2
25% Final Exam (cumulative)
25% Assignments and In-class exercises
In class, October 7, Wednesday
In class, November 23, Monday
L403 Lafayette, Dec 11, Friday, 11:45 A.M. - 2:45 P.M.
TBA
Tentative Course Outline and Prescribed Readings *
I. Introduction
a. Linking Economics and the Environment (Textbook Chapter 1)
b. The Market Process (Textbook Chapter 2; Learning Tool Module 1)
Demand, Supply and Equilibrium
Consumer Surplus and Producer Surplus
c. Market Failure (Textbook Chapter 3; Learning Tool Module 1)
Public Goods
Externalities
Efficiency
Property Rights
II. Environmental Policy Approaches
a. Command and Control (Textbook Chapter 4; Learning Tool Module 2)
Ambient Standard
Technology Standard
Performance Standard
b. Market-Based Instruments (Textbook Chapter 4; Learning Tool Module 2)
Product Charge and Emissions Charge
Subsidies
Deposit-Refund System
Pollution Permit Trading
III. Analytical Tools (Textbook Chapters 6-9; Learning Tool Module 3)
IV. Specific Pollution Problems
For each topic below, we will discuss
a. Overview of US legislation
b. Economic analysis of US environmental regulation
c. Benefit-cost analysis of the regulation
Air (Textbook Chap10-13; Learning Tool Module 4)
Water (Textbook Chap 14-16; Learning Tool Module 5)
Solid Waste and Toxic Substances (Textbook Chap 17-19; Learning Tool Module 6)
Global Environment (Textbook Chap 20-21; Learning Tool Module 7)
* Depth and breadth of coverage would depend on how much time we have left
Class Policies
My class policies are consistent with UVM policies which can be found on the following websites: (The links will
be on Blackboard)
Classroom Code of Conduct
Code of Student Rights and Responsibilities
Code of Academic Integrity
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Fall 2009
My specific class policies are below:
1.
Attendance
I will not check attendance. Anything you miss is your responsibility. Whatever you miss
when you are absent, come late, leave early, and register late is also your responsibility. Early
departure for Fall Recess or Thanksgiving break is NOT considered an excused absence
regardless of how early you have made your plans. See link on Classroom Code of Conduct
above.
Absences during due dates for assignments and exams are excused only for personal medical
situations and family emergencies. University policy specifies that “In the event of illness
requiring hospitalization or extended absence from classes because of a medical condition, with
permission from the student, a designated member of the Primary Care/Women’s Health staff
will notify the student's Dean's Office who will then be in touch with the student’s
faculty.” Please make sure to contact the CAS Office of Student Affairs if you get hospitalized and
miss and deadline and/or an exam.
Disruptive students will be dealt with according to UVM policies. See link on Code of Student’s
Rights and Responsibilities above.
2.
Assignments and in-class exercises
Assignments include take home assignments and in-class exercises. It is your responsibility
to be aware of the due dates for all assignments which will be indicated on the
assignment questionnaire. Dates for in class exercises will be announced in class.
In-class exercises may be individual or group work. All take-home assignments are individual
assignments. However, you are allowed to work with others. Make sure you do not copy
anything verbatim from anyone. I will uphold UVM policies on academic integrity. See link on
Code of Academic Integrity above.
Take home assignments are to be submitted at the beginning of the class on the day they are
due, unless otherwise noted. If you miss the deadline, your assignment score depends on
whether your absence is excused or not. If it is unexcused, you will get a score of zero on that
assignment. If you think you have an excused absence, I may or may not accept your late
assignment and I reserve the right to request for proof and judge whether your absence is
excused or not, and you may get a corresponding penalty on the score.
I will drop ONE take home assignment or in class exercise with the lowest % score. This
includes any assignment or exercise where you get a score of zero because your forgot, or
submitted late, or because you were absent. Once you get a zero on any assignment, that is
it. There is no chance to make up for it. That zero score will be dropped, and all your other
assignments, no matter what the score is, will count toward your grade. No exceptions.
3.
Exams
There will be two midterms: October 7, Wednesday and November 23, Monday. Mark your
calendars. A cumulative final exam will be held on December 11, 2009 Friday, 11:45 A.M. 2:45 P.M., in the same room as our class.
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Fall 2009
For each Midterm
If I deem that your absence during midterm is excused, you would need to schedule with me a
make-up exam as soon as possible. You need to take the make-up midterm within a week of your
return, unless there are extenuating circumstances. This exam will be different from the original
exam.
During the Final Exam
Since grades are due within 72 hours of the final exam, if you miss or expect to miss the final
exam I need to know on the day that the final exam is due whether your absence is excused or
not.
If I deem that your absence is excused, you would need to schedule with me a make-up exam as
soon as possible. You need to take the make-up exam within 2 days of the original schedule,
unless there are extenuating circumstances. This exam will be different from the original exam.
Unexcused Absences
For an unexcused absence during either of the midterms or the final exam, you will
automatically receive a score of zero on that missed exam.
I will NOT drop any midterm or final. All exams will count toward your grade.
4.
I reserve the final authority to excuse other types of absences, and final authority on
deciding on missed exams.
Office Hours and Email
Office hours are designed to help students with difficult concepts and challenging
quantitative exercises. Office hours are not designed for personal tutorial sessions for students
who miss classes, come late or leave early.
I do not make a habit of explaining exams, lectures, assignments by email. This class relies
a lot on graphs and algebra which is better explained in person. If you need something clarified,
come to my office hours or you can speak with me before or after the class. If a good number of
students have similar questions, I will address them in class only.
You can set appointments to see me via email if you are unavailable during my office hours.
5.
Re-grading
Requests for re-grading of exams/assignments must be done in writing within 24 hours after I
give you back your exam/homework. Be specific with your question/inquiry. I will not re-grade
assignments /exams with broad requests for me “to take a look at the answers again”. It is your
responsibility to be specific about what section of the assignment/exam you are asking to be regraded and why you think your answer deserves more points.
Any request for re-grading will subject your entire assignment/exam for re-grading.
Hence, your score may go up or down.
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