Description
Instructor(s)/Supervisor(s)/Coordinator(s): Keith CHANThis course examines the economic theories behind environmental policy-making. Key concepts include externalities, common resources, market failures, polluter pays principle, and free market environmentalism. Several methods of non-market valuation of environmental goods are illustrated with real-world examples. Basic game theory is applied to understand the logic of collective actions. Throughout the course, the emphasis is on fostering an intuitive understanding of the topics from an economist’s point of view.