Lahore University of Management Sciences

Econ 244 – Introduction to Environmental Economics

Spring 2018 – 2019

Instructor: Agha Ali Akram

Instructor Office: 260, Main Academic Block
Office Hours: Tuesday and Thursday 4:00 PM to 5:00 PM
Email: agha.akram@lums.edu.pk
Course link: LMS tab for Econ 244
Credit Hours: 4
Lecture(s): 2 per week (110 minutes each)

Reading Schedule

Week Lecture Topic

[Introduction]
01 01 Course outline; motivation.
Keohane and Olmstead Chapter 1: Introduction

02 Field and Field Chapter 1: What Is Environmental Economics?

Fullerton, D., & Stavins, R. (1998). How economists see the
environment. Nature, 395(6701), 433.

02 03 Field and Field Chapter 2: The Economy and the Environment

04 Field and Field Chapter 3: Benefits and Costs, Supply and Demand
Field and Field Chapter 4: Markets, Externalities, and Public Goods

[Benefit-Cost Analysis, Valuation]

03 05 Field and Field Chapter 4: Markets, Externalities, and Public Goods
Field and Field Chapter 7: Benefit–Cost Analysis: Benefits
[…]

06 [CONTINUED]
Field and Field Chapter 7: Benefit–Cost Analysis: Benefits
Keohane and Olmstead 3: The Benefits and Costs of
Environmental Protection

04 07 Field and Field Chapter 8 Benefit–Cost Analysis: Costs

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 08 *In-class Assignment-1

[Environmental Quality and Pollution]

05 09 Field and Field Chapter 5: The Economics of Environmental
Quality

10 NO CLASS

06 11 Field and Field Chapter 11: Command-and-Control Strategies: The

Case of Standards

12 Field and Field Chapter 12: Incentive-Based Strategies: Emission

Charges and Subsidies

07 13 Field and Field Chapter 13: Incentive-Based Strategies: Market

Trading Systems

14 *In-class Assignment-2

[Resource Economics: Non-renewables, Forests, Fisheries, Water]

08 15 Keohane and Olmstead Chapter 6: Managing Stocks: Natural
Resources as Capital Assets

16 Keohane and Olmstead Chapter 7: Stocks that Grow: The

Economics of Renewable Resource Management (pages 98 – 110)

[Spring Break; NO CLASS] Monday 18th March to Friday 22nd March

[Resource Economics: Non-renewables, Forests, Fisheries, Water]

10 17 Keohane and Olmstead Chapter 7: Stocks that Grow: The
Economics of Renewable Resource Management (pages 110 – 122)

18 Zetland Chapter 1: Water from the tap.

11 19 *In-class Assignment-3

[Climate Change: Overview, Integrated Assessment Models]

11 21 Climate change: The basics (lecture).

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 Summary for the Concerned Citizen. Nordhaus, W. D. (2014). A
question of balance: Weighing the options on global warming
policies. Yale University Press.

12 22 Integrated Assessment Models – I (lecture).

23 Integrated Assessment Models – II (lecture).

Field and Field Chapter 19: International Environmental
Agreements

13 24 Field and Field Chapter 21: Economic Development and the

Environment.
Keohane and Olmstead Chapter 11: Sustainability and Economic
Growth

25 *In-class Assignment-4

[In-Class Presentations]
13 26 *[SATURDAY 27 April] 6 x in-class presentations.

14 27 6 x in-class presentations.
28 6 x in-class presentations.
29 *[SATURDAY 4 May] 6 x in-class presentations.

[Final Exam] Wednesday 15th May

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