Montclair State University
College of Science and Mathematics
Department of Earth and Environmental Studies

ENV704-01	P. LeBel	
Environmental Economics	Fall 2010
ML 258 (lab); ML 251 (conference room); Elluminate Virtual Class (EVC) 	
	T 17:30-19:45

Course Description
This course links economic analysis to natural resources, technology, and the environment. The focus is on the structure of domestic and international natural resource markets, how pricing is derived, and how utilization of natural resources is related to patterns of environmental dynamics.  Prerequisites: Econ 101, Econ 102 or equivalent by permission of the instructor and Department Chair.

Course Objectives
Environmental Economics integrates our expanding knowledge of the environment with the role of exhaustible and renewable natural resources in the economy.  As such, it draws on various models by natural and social scientists to provide an integrated framework for understanding the relationships between natural resource dynamics and the environment.  Descriptive, geometric, and elementary quantitative methods will be used throughout the course.  Class sessions, which are based on a student's prior reading of assigned materials, require a significant degree of student participation.  

A student who has completed this course is expected to demonstrate a mastery of essential concepts and analytical skills in several key areas.  The most important of these areas are:

1.	An overview of natural resource industries; minerals, forestry, marine, land, and energy that includes an economic measure of their absolute and relative size in key economies around the world;
2.	An examination of basic economic tools of natural resource economics:  opportunity cost, externalities, property rights, taxes and subsidies, technical and economic efficiency;
3.	An overview oa alternative view of the role of the public sector, with emphasis on the economic functions of the public sector in general and those that pertain to natural resource economics and global warming in particular;
4.	An examination of the science of global climate change, including various sources of current and evolving projections such as those of the IPCC, the Stern Report, and others;
5.	An examination of alternative strategies that address the key ares of natural resource economics and global warming within a national and international framework;
6.	An analysis of reent national and international initiatives within the framework of economic policy alternatives, including the Rio Accords of 1992, the Kyoto Accords of 1992, and others.

The student’s knowledge in each of the above areas will be tested in three examinations, in periodic problem sets and in a research paper. A student who has successfully mastered both theory and methodological applications in these areas will be well prepared to pursue both direct career experience, as well as continuing study in Economics and/or related fields.

Course Delivery Format
Delivery of this course will be in a hybrid format.  It will utilize live sessions some of which will take place in part in the computer lab in Mallory 258 (ML258), others in the conference room in Mallory 251 (ML251), and still others through Montclair State University's Elluminate Virtual Classroom (EVC).  Extensive use will be made of the course website, located at: 

http://netdrive.montclair.edu/~lebelp/EnvironmentalEconomics.html

Apart from the basic text, this website contains all relevant downloadable materials used in the course.  To access the Elluminate Virtual classroom, students should use the following link:

http://tinyrul.com/2bceopo

Sessions that will be delivered in the various locations are indicated in the detailed class assignments indicated in the syllabus.

***
Policies and Procedures:

Course Evaluation Standards:  	Graduate students will be evaluated 
			in the following manner:
          Final examination:	30% (cumulative; essays and objective)
			December 14, 2010 – MA251
          Other examinations:	40% (20% each; essays and objective)
          Graduate Research Paper:	30% (standards and guidelines for the
			paper are found in this syllabus)
	
Make-up examinations:  None.  A student who misses an exam for a valid reason may request permission from the instructor to submit a substitute paper, with the instructor's prior approval of the topic. The paper is to be typed, at least 10 double-spaced pages in length, and is to be submitted within 2 weeks of the previously scheduled exam. No paper substitute is permitted for the final examination. 
Office Hours: Partridge Hall, PA-417, with hours to be posted on the website at: 
http://netdrive.montclair.edu/~lebelp/currentcoursematerialsfall.html
Other Contacts: 				Telephone (410) 546-4931; (973) 655-5255
					e-mail: lebelp@mail.montclair.edu. 

Montclair State University
College of Science and Mathematics
Department of Earth and Environmental Studies

ENVR701-01	P. LeBel
Environmental Economics 	Fall 2010

Syllabus

Text:  	Tom Tietenberg. Environmental and Natural Resource Economics, eighth edition.  (New York:  Pearson Addison-Wesley Publishing Company, 2009).

      	   Recommended  Periodical Supplements:
			The Wall Street Journal    	The New York Times  

			The Economist		Financial Times

			Scientific American		Science
		
			Worldwatch Institute			

Readings on Reserve:
Acemoglu, Daron and Thierry Verdier (2000).  "The Choice Between Market Failures and Corruption," American Economic Review, 90:1 (March), 194-211.
Ackerman, Frank and Elizabeth Stanton (2006).  "Climate Change – the Costs of Inaction," (Medford, Mass.: Tufts University Global Development and Environment Institute).
Bator, Francis M. (1958), “Anatomy of Market Failure,” Journal of Political Economy, 72:3 (August), 351-379.
Bojö, J., J. Mucknall, K. Hamilton, N. Kishor, C. Kraus, and P. Pillai (2001).  "Environment", Draft Framework for Environmental Policy.  (Washington, D.C.:  The World Bank).
Borenstein, Severin, James Bushnell, and Frank Wolak (2001).  "Measuring Market Inefficiencies in California's Restructured Wholesale Electricity Market," paper presented at the ASSA conference in Atlanta, Georgia (January).
Coase, Ronald H (1937), “The Nature of the Firm,” Economica, New Series 4:16 (November), 386-405.
Coase, Ronald H. (1960),  “The Problem of Social Cost”, Journal of Law and Economics  (October).
Dasgupta, Partha (2006).  "Comments on the Stern Review's Economics of Climate Change",  (London, U.K.:  Royal Society Foundation for Science and Technology).
Easterbrook, Gregg (2007).  "Global Warming:  Who Loses-And Who Wins?", The Atlantic Monthly (April), 1-8.
Federal Trade Commission (1973).  “The Petroleum Industry:  Structure and Conduct”, in Mansfield, Microeconomics Readings, (326-341).
Golan, Elise, Fred Kuchler, and Lorraine Mitchell (2000).  "Economics of Food Labeling".  (Washington, D.C.:  Economic Research Service, U.S. Department of Agriculture, Agricultural Economic Report No. 793).
Goodland, Robert (1995). "The Concept of Environmental Sustainability," Annual Review of Ecology and Systematics, 26, 1-24.
Gylfason, Thorvaldur, and Martin L. Weitzman (2003).  "Icelandic Fisheries Management:  Fees vs. Quotas," Conference paper, Iceland and the World Economy: Small Island Economies in the Era of Globalization.  (Cambridge, Mass.:  Harvard University Center for International Development).
Krautkraemer, Jeffrey A. (1998).  "Nonrenewable Resource Scarcity," Journal of Economic Literature, 36:4 (December), pp. 2065-2107.
Lareau, Thomas J. and Douglas A. Rae (1989), "Valuing WTP for Diesel Odor Reductions: An Application of Contingent Ranking Technique," Southern Economic Journal 55:3, 728-742.
LeBel, P. (2005).  "Optimal Pricing of Biodiverse Natural Resources for Sustainable Economic Growth," Journal of Development Alternatives, 24:1-2 (March-June), 5-38.
LeBel, P. (1999), "Measuring Sustainable Economic Development in Africa," Scandinavian Journal of Development Alternatives, 18:2-3 (June-September), 265-282.
Lovins, Amory, L. Hunter Lovins, and Paul Hawken (1999).  "A Road Map for Natural Capitalism," Harvard Business Review, (May-June), 146-158.
Newell, Richard G., James N. Sanchirico, and Suzi Kerr (2002).  "Fishing Quota Markets," Discussion Paper 02-20.  (Washington, D.C.:  Resources for the Future).
Nordhaus, William (2006), "The Stern Review on the Economics of Climate Change," (November).
Porter, Robert H. (1995),  “The Role of Information in U.S. Offshore Oil and Gas Lease Auctions”.  Econometrica 63:1 (January), pp. 1-28.
Stern, Nicholas (2006), Review of Climate Change Science, (London, U.K.:  Royal Society Foundation for Science and Technology).
	Stern Review Part 1 –   	 Study Approach
	Stern Review Part 2 –   	 Impacts on Growth and Development
	Stern Review Part 3 –  	 Stabilization Economics
	Stern Review Part 4 –	 Policy Mitigation Responses
	Stern Review Part 5 –	 Policy Responses for Adaptation
	Stern Review Part 6 –	 International Collective Action
	Stern Review Charts -   	 Stern Review Charts
Tietenberg, Tom (2003).  "The Tradable-Permits Approach to Protecting the Commons:  Lessons for Climate Change," Oxford Review of Economic Policy, 19:3, 400-420.
UNCTAD (1998).  Greenhouse Gas Emissions Trading:  Defining the Principles, Modalities, Rules and Guidelines for Verification,  Reporting and Accountability, (Geneva, Switzerland:  UNCTAD).
Varian, Hal R. (2006).  "Recalculating the Costs of Global Climate Change," The New York Times, November 14, 2006.
____________.  "Climate of Opinion," The Wall Street Journal, February 5, 2007.
World Meterological Organization, United Nations Environmental Programme, Intergovernmental Panel on Climate Change,  "Climate Change 2007:  Impacts, Adaptation and Vulnerability".  (Brussels, Belgium:  IPCC Working Group II).

Internet Sources:
Ecological Economics Resources:
	http://www.ecoeco.org
Environmental Economics Resources:
	http://www.aere.org/
Intergovernmental Panel on Climate Change (IPCC):
	http://www.ipcc.ch/pub/online.htm
Japan Recycling Statistics:
	http://web-japan.org/stat/stats/19EN51.html
Nature Conservancy:
	http://nature.org/aboutus/
The Forest Stewardship Council:
	http://www.fsc.org/fsc
U.S. Department of Energy Renewable Energy Annual Report (REA):  
	http://www.eia.doe.gov/cneaf/solar.renewables/page/pubs.html/
U.S. Department of the Interior Minerals Yearbook:
	http://minerals.usgs.gov/minerals/pubs/
U.S. Energy Information Administration, Department of Energy
	http://www.eia.doe.gov/
U.S. Energy Recycling Statistics:
	http://www.epa.gov/epaoswer/non-hw/muncpl/facts.htm/
U.S. Environmental Protection Agency National Ambient Air-Quality Standards:
	http://www.epa.gov/air/criteria.html
U.S. Environmental Protection Agency Air Quality Emissions Trends:
	http://www.epa.gov/airtrends/sixpoll.html
U.S. Environmental Protection Agency Acid Rain Trends:
	http://www.epa.gov/docs/acidrain/update3/allws.html
I.	
The Natural Science and Economics of Natural Resources
(2010/09/07)  Class 1 Location: (ML258) – Text, Visions of the Future (1-13); Valuing the Environment: Concepts (14-33).  Key concepts:  Basic supply and demand, Present and Future Values, Net Present Value (NPV), Pareto optimality, feedback loops, open vs. closed economic systems, first and second laws of thermodynamics, entropy, positive vs. normative economics, willingness to pay criterion, opportunity cost, technical vs. allocative static economic efficiency, static vs. dyamic economic efficiency, First Equimarginal Principle. Optional Reserve Readings: WMO-UNEP IPCC Climate Change update: "Climate Change 2007:  Impacts, Adaptation and Vulnerability"; Sir Nicholas Stern, Review of Climate Change Science (henceforth, Stern Review) – Study Approach; Thomas J. Lareau and Douglas A. Rae, "Valuing WTP for Diesel Odor Reductions:  An Application of Contingent Ranking Technique," Southern Economic Journal, 55:3, 728-742; Stern Review – Impacts on Growth and Development. Datasets: World Grain Production. Application Modules: The Circular Flow Diagram; Economic Functions of the Public Sector;  The Measurement of Risk. Econometric Modeling  Classroom Case Studies: Basic Supply and Demand Model 

(2010/09/14)  Class 2 Location: (EVC) – Text, Valuing the Environment: Methods (34-64); Property Rights, Externalities, and Environmental Problems (65-94). Key concepts: Ex ante vs. ex post valuations, Endangered Species Act, Federal Energy Regulatory Commission, Comprehensive Environmental Response, Compesnsation, and Liability Act, stock vs. flow valuations, Total Willingness to Pay (TWP), Use Value, Option Value, Nonuse Value, Willingness to Accept (WTA), biases: strategic, information, starting-point, hypothetical, WTP vs. WTA discrepancies, National Oceanic and Atmospheric Administration (NOAA), Meta-analysis, Geographic Information Systems (GIS), tangible vs. intangible benefits, Expected Value of Present Net Benefits (EPVNB), cost-benefit vs. cost-effectiveness analysis, Second Equimarginal Principle, National Environmental Policy Act of 1969, efficient property right structures, total social welfare, consumer surplus, producer surplus, externalities, rex ullius (open-access regimes), common-property resources, common-pool resources, public goods, species and genetic components of biological diversity, deadweight social welfare loss (DSWL), the Coase (1960) theorem. Optional Reserve Readings: Bator, Francis M. (1958), “Anatomy of Market Failure,” Journal of Political Economy, 72:3 (August), 351-379; Stern Review – Stabilization Economics; Nordhaus, William (2006), "The Stern Review on the Economics of Climate Change," (November).   Datasets: Energy Resources; Application Modules: Capital Budgeting Fundamentals Classroom Case Studies: The Basic Harrod-Domar Model.

(2010/09/21) Class 3 Location: (ML258) –Text, Dynamic Efficiency and Sustainable Development (92-107); The Population Problem (108-133). Key concepts: static versus dynamic efficiency, two-period model, marginal user cost, Rawlsian veil of ignorance as a justice criterion, Hartwick (1977) sustainability criterion, weak (total capital sustainability) vs. strong (natural capital stock perpetuity) sustainability, environmental sustainability, stationary population, diminishing marginal productivity, coiled vs. uncoiled population dynamics, technological change and demographic dynamics. Optional Reserve Readings: Stern Review – Policy Mitigation Responses; Goodland, Robert (1995). "The Concept of Environmental Sustainability," Annual Review of Ecology and Systematics, 26, 1-24.  Datasets:  World Fossil Fuel Consumption; Energy Efficiency Application Modules: The Law of Variable Proportions; Basic Economic Efficiency; Classroom Case Studies: Basic Market Dynamics

(2010/09/28)  Class 4 Location: (EVC) – Text, The Allocation of Depletable and Renewable Resources: An Overview (134-155); Energy: The Transition from Depletable to Renewable Resources (156-191). Key concepts: Measures of exhaustible resources, multi-period exhaustible resource models, transitions to a renewable resource base, property rights structures. Optional Reserve Readings: Borenstein, Severin, James Bushnell, and Frank Wolak (2001). "Measuring Market Inefficiencies in California's Restructured Wholesale Electricity Market,"; Federal Trade Commission (1973).  “The Petroleum Industry:  Structure and Conduct”, in Mansfield, Microeconomics Readings, (326-341); Coase, Ronald H (1937), “The Nature of the Firm,” Economica, New Series 4:16 (November), 386-405.  Datasets: World Metals Production   Application Modules: Exhaustible Resource Model Classroom Case Studies: Exhaustible Resources Case Study. Research Paper Topic Selection Deadline.

(2010/10/05)	Class 5 Location: (ML258) – Text, Recyclable Resources: Minerals, paper, Bottles, and E-Waste (192-214); Relenishable but Depletable Resources: Water (215-242). Key concepts: Hubbert's Peak, Cartel structures and behavior, own, cross and income elasticities of demand, Strategic Petroleum Reserve (SPR), Efficient Level of Precaution, Tradable Energy Certificates (TEC's), Electronics Recycling Laws, the Hydrologic Cycle, riparian and prior appropriation doctrines, usufruct right, univerorm/declining block/inverted block/ and seasonal rate pricing. Optional Reserve Readings: Golan, Elise, Fred Kuchler, and Lorraine Mitchell (2000); "Economics of Food Labeling".  (Washington, D.C.: Economic Research Service, U.S. Department of Agriculture, Agricultural Economic Report No. 793). Datasets: U.S. Agriculture Application Modules: Optimal Investment Storage; Excise Taxation; Excise Taxation Criteria Classroom Case Studies: Economics of Excise Taxes

 (2010/10/12)	Class 6 Location:  (EVC) – Text, Land (243-266); Reproducible Private Property Resources: Agriculture (267-295). Key concepts: the Public Purpose, transferable development rights (TDR's), Wetlands banking, conservation banking, safe harbor agreements, conservation easements, land trusts, development impact fees, global scarcity hypothesis, ethanol fuels, organic foods, genetically modified organisms (GMO's), the cobweb model. Optional Reserve Readings: Newell, Richard G., James N. Sanchirico, and Suzi Kerr (2002).  "Fishing Quota Markets," Discussion Paper 02-20; LeBel, P. (2005). Datasets:   Application Modules: The Cobweb Model. Classroom Case Studies: Commodity Price Stabilization Research Paper Preliminary Bibliography Submission Deadline.

 (2010/10/19)	Class 7 Location: (ML251) – Mid-Term Examination.  text, pp. 1-295, case studies, application modules, reserve readings.

(2010/10/26)	Class 8 Location: (EVC) - Text, Storable, Renewable Resources: Forests (296-321); Common-Pool Resources: Fisheries and Other Commercially Valuable Species (322-355). Key concepts: timber farming, perverse incentives, debt-nature swaps, sustainable forestry certification, World Heritage Convention, maximum sustainable yield, static vs. dynamic efficient sustainable yield, aquaculture, individual transferable Quotas (ITQ's), 200 mile limit. Optional Reserve Readings: "Optimal Pricing of Biodiverse Natural Resources for Sustainable Economic Growth," Journal of Development Alternatives, 24:1-2 (March-June), 5-38; Gylfason, Thorvaldur, and Martin L. Weitzman (2003). "Icelandic Fisheries Management:  Fees vs. Quotas," Conference paper, Iceland and the World Economy: Small Island Economies in the Era of Globalization.  (Cambridge, Mass.:  Harvard University Center for International Development).  Datasets: Chesapeake Bay Marine Harvests Application Modules: Tree Species Growth Model; Single Species Renewable Resource Dynamics; Tropical Timber Model Under Uncertainty; Classroom Case Studies:  Static Natural Resource Optimization; Single-Species Renewable Natural Resource Optimal Choices.

(2010/11/02) Class 9 Location: (ML258) - Text, Economics of Pollution Control: An Overview (355-389); Stationary-Source Local Air Pollution (390-412). Key concepts: absorptive capacity, efficient pollution levels, emission charges, emissions trading, ambient standards, cost-effective pollution control, national ambient air-quality standards, command and control (CAC) approach, offset programs, smog trading, best available technology (BAT). Optional Reserve Readings: Tietenberg, Tom (2003).  "The Tradable-Permits Approach to Protecting the Commons:  Lessons for Climate Change," Oxford Review of Economic Policy, 19:3, 400-420; Easterbrook, Gregg (2007).  "Global Warming:  Who Loses-And Who Wins?", The Atlantic Monthly (April),  Datasets: U.S. Municipal Solid Waste Application Modules: The Leontief Static Input-Output Model. Classroom Case Studies: The Leontief Input-Output Case Study. Research Paper Revised Bibliography and Preliminary Outline Submission Deadline

(2010/11/09)	Class 10 Location: (EVC) - Text, Regional and Global Air Pollutants: Acid Rain and Atmospheric Modification (413-437). Key concepts: acid rain, sulfur allowances, ozone depletion, Montreal Protocol, Intergovernmental Panel on Climate Change (IPCC), UN Framework Convention on Climate Change (UNFCCC), Koto Protocol. Optional Reserve Readings: UNCTAD (1998). Greenhouse Gas Emissions Trading:  Defining the Principles, Modalities, Rules and Guidelines for Verification,Reporting and Accountability, (Geneva, Switzerland:  UNCTAD).  Datasets:  U.S. Vehicle Sales.; U.S. Carbon Dioxide Emissions; U.S.Carbon Dioxide Intensity Application Modules: Cost-Effectiveness Model Classroom Case Studies: Externality Choices: The Social Rate of Return

(2010/11/16) Class 11 Location: (ML258) - Text, Mobile-Source Air Pollution (438-462); Water Pollution (463-494). Key concepts: mobile air-source pollution, implicit subsidies, associated enforcement program, Corporate Average Fuel Economy (CAFE) program, zero emission vehicle (ZEV), methyl tertiary butyl ether (MTBE), congestion pricing, pay-as-you-drive (PAYD) insurance. Optional Reserve Readings: Coase, Ronald H. (1960),  “The Problem of Social Cost”, Journal of Law and Economics  (October); Dasgupta, Partha (2006).  "Comments on the Stern Review's Economics of Climate Change",  (London, U.K.:  Royal Society Foundation for Science and Technology).     Datasets: World Weather Losses Application Modules: Externalities; Tradable Pollution Permits Classroom Case Studies: Optimal Externality Management; 

(2010/11/23)	Class 12 Location: (EVC) - Text, Toxic Substances (495-522); Environmental Justice (523-548). Key concepts: waste-receiving water, fund vs. stock pollutants, point sources, nonpoint sources, safe drinking water act of 1974, ocean dumping, national effluent standards, uniform emission charge (UEC), zoned effluent charge (ZEC), toxic substance pollution, occupational hazards, negligence and strict liability statutes, Federal Food, Drug, and Cosmetic Act, Occupational Safety and Heatlh Act (OSHA), Toxic Substances Control Act, Comprehensive Environmental Response, Compensation, and Liability Act (Superfund Act), Toxic Release Inventory (TRI), Environmental Protection and Community Right to Know Act (EPCRA), Pollution Prevention Act (PPA) of 1990, Polllutant Release and Transfer Registers (PRTR), National Pollutant Release Inventory (NRI), Safe Drinking Water and Toxic Enforcement Act of 1986, environmental justice, horizontal vs. vertical equity principles of taxation, Not In My Backyard (NIMBY). Optional Reserve Readings: Varian, Hal R. (2006).  "Recalculating the Costs of Global Climate Change," The New York Times, November 14, 2006. Datasets: International Clean Water Access Rates, 1980-2005; U.S. Low Level Nuclear Waste; U.S. High Level Nuclear Waste Application Modules: Excise Taxation.  Classroom Case Studies: Optimal Excise Taxation.; A Livestock Econometric Model Research Paper Submission Deadline.

(2010/11/30)	Class 13 Location: (ML258) – Text, Development, Poverty, and the Environment (549-576); The Quest for Sustainable Development (577-602). Key concepts: determinants of economic growth, natural resource curse, the information economy, national income measures, genuine progress indicator (GPI), ecological footprint, human development index (HDI), Heavily Indebted Poor Countries (HIPC), sustainable development, induced innovation hypothesis, Environmental Kuznets Curve (EKC), North America Free Trade Agreement (NAFTA), GATT vs. WTO, transition principles – cost-effective, property rights, sustainability, and information. Optional Reserve Readings: Krautkraemer, Jeffrey A. (1998).  "Nonrenewable Resource Scarcity," Journal of Economic Literature, 36:4 (December), pp. 2065-2107; Porter, Robert H. (1995),  “The Role of Information in U.S. Offshore Oil and Gas Lease Auctions”.  Econometrica 63:1 (January), pp. 1-28;  ____________.  "Climate of Opinion," The Wall Street Journal, February 5, 2007; Stern Review – Policy Responses for Adaption; Bojö, J., J. Mucknall, K. Hamilton, N. Kishor, C. Kraus, and P. Pillai (2001). "Environment", Draft Framework for Environmental Policy. (Washington, D.C.:  The World Bank).   Datasets: U.S. Low Level Nuclear Waste; U.S. High Level Nuclear Waste Application Modules: Growth and Development  Classroom Case Studies:  

(2010/12/07)	Class 14 Location: (EVC) – Text, Visions of the Future Revisited (603-640). Key concepts: market failure vs. government failure, public-private partnerships, optimal public incentives for sustainable economic development. Optional Reserve Readings: Stern Review Synthesis.; Ackerman, Frank and Elizabeth Stanton (2006).  "Climate Change – the Costs of Inaction," (Medford, Mass.: Tufts University Global Development and Environment Institute); P. LeBel (1999), "Measuring Sustainable Economic Development in Africa," Scandinavian Journal of Development Alternatives, 18:2-3 (June-September), 265-282; World Meterological Organization, United Nations Environmental Programme, Intergovernmental Panel on Climate Change,  "Climate Change 2007:  Impacts, Adaptation and Vulnerability".  (Brussels, Belgium:  IPCC Working Group II); Acemoglu, Daron and Thierry Verdier (2000).  "The Choice Between Market Failures and Corruption," American Economic Review, 90:1 (March), 194-211; Lovins, Amory, L. Hunter Lovins, and Paul Hawken (1999). "A Road Map for Natural Capitalism," Harvard Business Review, (May-June), 146-158; Stern Review – International Collective Action  Datasets:       Application Modules:      Classroom Case Studies: Income Distribution and Social Welfare

Guidelines for Research Paper.
Students are to select a topic and prepare a research paper based on the indicated submission deadlines. Papers are to be double-spaced in Microsoft Word, using APA style.  The body of the paper, which contains text, footnotes, tables, and charts only, is to be a minimum of fifteen pages.  Sources used are to be reported as shown in the bibliography citations listed below. Failure to adhere to any of the deadlines will result in grading penalties of one grade subtraction for each day delay. Unless otherwise stipulated, only written submissions can be posted (i.e., no electronic submissions). Only topics that adhere to the instructor approval schedule may be submitted. Students should expect to apply theory and applications from the course to the analysis in the paper.

Texts on Natural Resource Economics
Faber, Malte, Reiner Manstetten, and John Proops (1996).  Ecological Economics:  Concepts and Methods. (Brookfield, Vermont:  Edward Elgar Publishing Company).
Field, Barry C. (2001).  Natural Resource Economics:  An Introduction.  (New York:  McGraw-Hill).
Field, Barry C. (2006).  Environmental Economics:  An Introduction, fourth edition.  (New York:  McGraw-Hill).
Goodstein, Eban S. (2005).  Economics and the Environment, 4th edition.  (New York:  John Wiley and Sons).
Hackett, Steven C. (2006).  Environmental and Natural Resource Economics, 3rd edition.  (Armonk, New York:  M.E. Sharpe Publishing Company).
Harris, Jonathan (2006).  Environmental and Natural Resource Economics, second edition.  (Boston, Mass.:  Houghton Mifflin Publishing Company).
Markandya, Anil, and Julie Richardson, editors (1992).  Environmental Economics:  A Reader.  (New York:  St. Martin's Press).
Oates, Wallace E., editor (1994).  The Economics of the Environment.  (Brookfield, Vermont:  Edward Elgar Publishing Company).
Pearce, David W. and R. Kerry Turner (1990).  Economics of Natural Resources and the Environment.  (Baltimore, Maryland:  The Johns Hopkins University Press).

Bibliography
Abramowitz, Janet N. (1998).  Taking a Stand: Cultivating a New Relationship with the World's Forests, Worldwatch Research Paper 140.  (Washington, D.C.:  The Worldwatch Institute).
Acheson, J.M. (2003).  Capturing the Commons:  Devising Institutions to Manage the Maine Lobster Fishery.  (Hanover, N.H.:  University Press of New England).
Amundsen, Eirik S., Trond Bjørndal, and Jon M. Conrad (1995).  "Open Access Harvesting of the Northeast Atlantic Minke Whale," Environmental and Resource Economics, 6:2 (September), 167-185.
Anderson, Dennis (1987).  The Economics of Afforestation:  A Case Study in Africa, Occasional Paper Number 1/New Series..  (Baltimore, Maryland:  The Johns Hopkins University Press for the World Bank).
Anderson, Lee G. (1986). The Economics of Fisheries Management revised and enlarged edition. (Baltimore:  The Johns Hopkins University Press).
Anderson, Terry L. (1983).  Water Crisis:  Ending the Policy Drought.  (Washington, D.C.:  The Cato Institute).
Ashworth, William.  (1995).  The Economy of Nature:  Rethinking the Connections Between Ecology and Economics.  (Boston, Mass.:  Houghton-Mifflin Publishing Company).
Baghwati, Jagdish (1993).  "Does Free Trade Harm the Environment?" Scientific American 269:5 (November).
Barbier, Edward (1992), "Community Based Development in Africa," in Timothy Swanson and Edward Barbier, eds. Economics for the Wilds:  Wildlife, Diversity, and Development.  (Washington, D.C.:  Island Press).
Bardhan, Pranab (2006).  "Does Globalization Help the World's Poor?" Scientific American 294:4 (April).
Barde, Jean-Philippe and David W. Pearce (1991).  Valuing the Environment:  Six Case Studies.  (London:  Earthscan Publications).
Barrière, R. Pallu de la. (1980).  Optimal Control Theory.  (New York:  Dover Publications, 1980 reprint of 1967 edition).
Batie, Sandra S. (2003).  "The Environmental Impacts of Genetically Modified Plants:  Challenges to Decision-Making," American Journal of Agricultural Economics, 85:5, 1107-1111.
Beddington, John R., Watts, C.M., and Wright, W.D.C. (1975).  "Optimal Cropping of Self-Reproducible Natural Resources." Econometrica  43:4 (July), 789-802.
Berck, Peter, and Jeffrey M. Perloff (1984).  "An Open-Access Fishery with Rational Expectations," Econometrica 52:2 (March), 489-506.
Beverton, R.J.H., and Holt, S.L. (1957). On the Dynamics of Exploited Fish Populations.  Ministry of Agriculture, Fisheries and Food, Fishery Investigations, Series II, Vol. 19  (London:  Her Majesty's Stationery Office).
Berck, Peter (1979).  "Open Access and Extinction." Econometrica 47:4 (July), 877-882.
Bohi, Douglas R., and Michael A. Toman (1984). Analyzing Nonrenewable Resource Supply.  (Washington, D.C.:  Resources for the Future).
Blinder, Alan S. And Philip Friedman, editors. (1977). Natural Resources, Uncertainty, and General Equilibrium Systems.  (New York:  Academic Press).
Brander, James A. and M. Scott Taylor (1998), "The Simple Economics of Easter Island:  A Ricardo-Malthus Model of Renewable Resource Use." American Economic Review 88:1 (March), 119-138.
Bromley, Daniel W. (1995).  The Handbook of Environmental Economics.  (Cambridge, Mass.:  Basil Blackwell Publishers).
Bromley, Daniel W., editor (1992).  Making the Commons Work:  Theory, Practice and Policy.  (San Francisco:  ICS Press).
Bromley, Daniel W. (1991). Environment and Economy:  Property Rights and Public Policy.  (Oxford, U.K.:  Basil Blackwell, Inc.). 
Brooks, Daniel R. and E.O. Wiley (1988, 1986).  Evolution as Entropy:  Toward a Unified Theory of Biology, second edition.  (Chicago, Illinois:  University of Chicago Press).
Brown, Gardner M. (2000). "Renewable Natural Resource Management and Use without Markets." Journal of Economic Literature 38 (December), 875-914.
Brown, Kathryn (2001).  "Genetically Modified Foods."  Scientific American 284:4 (April).
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