MGAP-4406 The Economics of the Environment and Natural Resources

This course provides basic knowledge of the concepts and the methodology used in economics to analyze environmental problems and natural resources. The course will emphasize the economic tools and instruments used by environmental policy, as well as solutions based on collective management. We will also look at experimental economics as a field for study and an empirical tool for analyzing individual behavior in dilemmas that are common when there are shared resources and other environmental dilemmas. The course covers the following topics: (i) the theory of externalities and of public goods, (ii) renewable and nonrenewable resources, (iii) economic instruments: taxes, tradable permits, and conservation incentives, (iv) institutional and experimental economics, (v) valuations of environmental goods and services, (vi) development and the environment, (vii) economic policy and the environment. We will analyze both experiences in Colombia and in other countries.