Syllabus

Econ 260: Environmental and Natural Resource Economics

Instructor: Dr. Moriah Bostian

Term: Fall 2024

Classroom: JRHH 115

Time: T/TH 8:00-9:30

Office: 324 JRHH

Office Hours: Tue 2:00-3:30 (324 JRHH); Wed 11:00 - 12:30 (via zoom)

Email: mbbostian@lclark.edu

Watzek Library Liaison:

E.J. Carter, ecarter@lclark.edu

Required Text:

David A. Anderson (2019).  Environmental Economics and Natural Resource Management, 5th Edition.  

Prerequisite: Econ 100

Course Description:

This course will explore the role of public and private institutions in determining environmental outcomes and allocating scarce natural resources.  We will begin with an introduction to the key economic principles related to common-pool resources and externalities to explain the environmental effects of human behavior.  We will review the various economic methods for valuing  non-marketed environmental outcomes, and the application of these valuation methods to benefit-cost analysis.  Then we will use economic theory to evaluate policies to address environmental problems, focussing on pollution and climate change.

In the second half of the course, we will turn to the problem of resource use over time.  This introduces the concept of Dynamic Efficiency, or optimal resource use over time.  We will then apply Dynamic Efficiency methods to specific natural resources and environmental problems, including renewable and nonrenewable energy sources, land use, air and water quality, climate change, water scarcity and biodiversity.  Throughout, we will incorporate readings from the environmental and natural resource economics literature into class discussion.    

Course Objectives:

The objectives of this course are for you to:

• Apply economic theory to environmental and natural resource problems.

• Become familiar with the different approaches to valuing the environment and natural resources.

• Apply dynamic optimization techniques to determine efficient resource use over time.

• Use economic theory to explain contemporary environmental issues and evaluate environmental policy.

• Develop skills presenting economic material.

Student Responsibilities:

Fulfilling the objectives above will require each of you to engage in this course.  Your primary responsibilities as a student are to:

• Come to class.  This course will utilize discussion, group activities and in-class exercises as learning methods.  For these methods to be effective, you must be present.   

  • Complete the assigned readings before class.  It is especially important for you to read any assigned articles before class because we will be discussing these readings in class.  Use the textbook as a reference for class exercises and lecture material.  

• Participate in class.  Participation includes contributing to class discussions and collaborating on in-class exercises.  

• Maintain the learning environment for others.  I expect you to be a considerate member of our classroom community.  

• Complete assignments on time.  In this course, we will cover a set of topics that build sequentially.  Your comprehension of and ability to apply course concepts at any point in the semester depend on your understanding of previous material.  I will only accept late work with prior accommodation.  

Tips for doing well in this course:

Here are a few helpful strategies for success in Environmental and Natural Resource Economics:

• • Do not fall behind.  As an introduction to both environmental and natural resource economics, this course covers a breadth of material at a rigorous pace.  As a general rule, plan to spend 2 - 3 hours outside of class on the readings and homework for each class session.  If you are having trouble keeping up with the course, visit me in office hours to develop a better study plan.  

  • Ask questions.  Bring questions from the readings to class, raise your hand if you have a question during class, and visit me during my office hours to go over material outside of class.  

  • Come to office hours!  If you are unable to make my regularly scheduled office hours, please email me to set up an appointment.  

  • Start working on the homework soon after class.  The material will be more fresh, applying the concepts from class will help to solidify your understanding, and this also leaves you time to ask for help on difficult problems.  

  • Start working with an Econ SAAB tutor early.  The econ SAAB tutors are awesome.  They were selected by the faculty for their mastery of economics and enthusiasm for working with you.  

  • Form a study group.  Get together with a few other people in class to work on homework problems, rehash the lecture and review for exams.  Study groups are fun, supportive and a great way to fill in the gaps.  

  • Take good notes in class.  We will be solving problems, drawing graphs and outlining concepts at the board.  If it goes on the board, it should go into your notes.

  • Start thinking like an Economist!  Apply economics to news stories you read, other classes you are taking and environmental issues that interest you.  

Attendance:

I understand that each of you will likely need to miss class at some point during the semester.  If you do need to miss class, you are still responsible for any assignments that are due that day, and for catching up on any missed material. Please make arrangements with me and the Office of Student Accessibility to receive accommodation for any extended absence from class. This includes missing three or more consecutive class days due to illness.  

Please do not attend class if you are experiencing any symptoms of illness.  I will not penalize your grade for staying home to recover, and to protect everyone in our classroom community.    

Grading:

I will base your grade on two in-class midterm exams, four homework sets, the empirical project and participation as follows: 

• 15%, Homework

• 25%, Exam 1 

• 25%, Exam 2

• 25%, Final Project    

• 10%, Article Discussions

The homework problems will correspond to the readings and examples from class, and are designed to build your understanding as we move through the course.  I will assign each of you to a homework group.  Please turn in one set of answers per group.   

The exams will include problems that are similar to homework problems and examples from class, as well as questions that challenge you to go beyond these exercises.

Your research project should examine a contemporary environmental or natural resource issue through the lens of economics.  I will assign each of you to a project team and provide more information on expectations for the research project early in the course.  

I will also assign you to a Discussion Group in the second week of classes.  Each discussion group will be responsible for presenting the assigned reading and launching discussion for a given class during the semester.  I will provide more information on the article presentations early in the course.  

You can access the course readings online, via the Watzek library catalogue.  This is a good way for you to start honing those research skills!  I will provide additional access instructions for the few exceptions that cannot be accessed directly from Watzek.  

Final letter grades will be based on the percentage of total points earned as follows:

Academic Integrity:

I expect everyone who is participating in this course to adhere to the college's academic integrity policy.  The Lewis & Clark Academic Integrity Policy states:

"Acts of academic dishonesty involve the use or attempted use of any method or technique enabling a student to misrepresent the quality or integrity of his or her academic work.  Academic dishonesty with respect to examinations includes but is not limited to copying from the work of another, allowing another student to copy from one's own work, using crib notes, arranging for another person to substitute in taking an examination, or giving or receiving unauthorized information prior to or during the examination. Academic dishonesty with respect to written or other types of assignments includes but is not limited to: failure to acknowledge the ideas or words of another that have consciously been taken from a source, published or  unpublished; placing one's own name on papers, reports, or other documents that are the work of another individual, whether published or unpublished; flagrant misuse of the assistance provided by another in the process of completing academic work; submission of the same paper or project for separate courses without prior authorization by faculty members; fabrication or alteration of data; or knowingly facilitating the academic dishonesty of another."

I will not treat academic dishonesty lightly in this course.  Nor will I consider ignorance of the LC academic integrity policy as an excuse for its violation.  Please consult me if you have any questions regarding academic integrity while working on your research project.

Accommodations:

If you have a disability that may impact your academic performance, you may request accommodations by submitting documentation to the Office of Student Accessibility in 206 Albany Quadrangle (x7192). After you have submitted documentation and filled out paperwork there for the current semester requesting accommodations, staff in that office will notify me of the accommodations for which you are eligible. You can find additional information about accommodation arrangements on the Office of Student Accessibility website.

How students can access academic resources:  

The Academic Support and Resources website contains information for accessing a range of resources, including the SQRC, SAAB tutoring, Writing Center, and Library staff. This is one very useful website!

Tentative Class Schedule:

I expect you to come to class having read the day's assigned material in advance. The tentative schedule of readings and topics are listed below. I will update this schedule as needed through the semester and notify you of any changes to these plans.