This course begins with a brief review of key economic principles (e.g., economic as distinct from engineering efficiency, comparing benefits and costs at the margin, discounting). It then moves on more in-depth treatments of areas that are the focus of environmental economics. These include externalities, common property resources, market failure, ‘valuation’ of un-priced impacts of economic activity, and policy instruments for controlling pollution and other forms of environmental degradation. Throughout the course, the emphasis is on fostering an intuitive understanding of the topics and how they relate to real world decision making. For EVMT students only.