The course develops and uses economic concepts to explain why environmental problems occur, to determine economically efficient allocations of environmental resources, and to evaluate the consequences of public policies that are intended to improve the use of environmental resources. Uncertainties that limit knowledge about environmental resources and the consequences of their use are examined, and the effects of such uncertainties on the practical feasibility of implementing theoretically efficient principles and policies are analyzed. Alternative public policies that might achieve superior allocations of environmental resources in practice are investigated.
