The relationship between economic growth and the environment is at the forefront of public attention and poses serious challenges for policymakers around the world. Economic Analysis of Environmental Policy, a textbook for advanced undergraduate and graduate courses, provides a rigorous and thorough explanation of modern environmental economics, applying this exposition to contemporary issues and policy analysis.Opening with a discussion of contemporary pollution problems, institutional players and the main policy instruments at our disposal, Ross McKitrick develops core theories of environmental valuation and optimal control of pollution. Chapters that follow cover issues like tradable permits, regulatory standards, emission taxes, and polluter liability as well as advanced topics like trade and the environment, sustainability, risk, inequality, and self-monitoring. Throughout, McKitrick uses clear, intuitive, and coherent analytical tools, so that students, academics, and practitioners can develop their policy analysis skills while comprehending the debates and challenges at the frontier of this exciting and rapidly-developing field.
List of Figures and Tables Preface: Why This Book Issues, Instruments, Institutions, and Ideas Valuation of the Environment The Value of Emissions and the Costs of Abatement Optimal Emissions: The Partial Equilibrium Case Information, Uncertainty, and Instrument Choice Pollution Standards, Monitoring, and Enforcement Tradable Permits and Quotas Emission Taxes and the General Equilibrium Model of Emission Pricing Bargaining and Tort Law as Solutions to Externalities International Trade and Pollution Sustainability and Optimal Growth Policy Debates, Practice Exam, and Supplementary Questions Index
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