Schedule, Lecture Notes, and Readings

Each section is approximately 1-2 days of class. KO denotes readings from the Keohane and Olmstead book. Any readings without links can be obtained through the Cornell library website. Required readings for students enrolled at the 5000 level are in italics.

Introduction to environmental economics

Market failures: Public goods and externalities

Coase theorem

In class Coasean bargaining game

Policy: Standards

Taxes and Subsidies

Tradable permits

In class emissions trading game

Distortions and second-best policies

Policy under uncertainty

Non-market valuation: Travel cost

Non-market valuation: Contingent valuation

In class hedonics game

The environment and real estate markets

Offset markets

Climate risk and financial instruments

Green instruments

Corporate Governance