How to Use This Site

The OLLI Home Page gives general information on the course.

In the top menu find the right class - Part 1 or Part 2. Each of the individual class sessions have pages with more information and resources.

Feel free to read (and comment!) on the Plain-Sense Blog - Go to Plain Sense Home

Contact Information - Doug Gentry

Email: gentryd@sou.edu

Phone: 541-261-8501

Environmental Economics

Most economists prefer that government keep out of market functions, and let the forces of demand and supply efficiently allocate scarce resources. In times of market failure, however, there is a rationale for government intervention. One class of failure is externalities. Pollution and other environmental initiatives typically address externalities. We also can use some fundamental economic concepts to try and decide how much pollution to control. Finally, there are some interesting market-based approaches to pollution regulation that bear exploring.

Economic Concepts We Will Cover

• Externalities
• Marginal Costs and Marginal Benefits
• Coase Theorem
• Direct Regulation vs. Market Based Programs

Resources for More Information

• EPA's National Center for Environmental Economics
• Wikipedia Entry
• EPA Information on Cap and Trade