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The%20Environment%20in%20Introductory%20Economics

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The Environment in Introductory Economics Three Global Development and Environment Institute textbooks: Microeconomics in Context Macroeconomics in Context – PowerPoint PPT presentation

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Title: The%20Environment%20in%20Introductory%20Economics


1
The Environment in Introductory Economics
  • Three Global Development and Environment
    Institute textbooks
  • Microeconomics in Context
  • Macroeconomics in Context
  • Principles of Economics in Context
  • Contextual Economics Economic activity takes
    place within a broader social and environmental
    context.
  • Of 33 chapters in Principles text, 20 include
    some discussion of environmental quality and/or
    natural resources.
  • Four chapters have detailed environmental focus
  • The Economics of the Environment
  • Common Property Resources and Public Goods
  • Macroeconomic Measurement Social and
    Environmental Dimensions
  • Growth and Sustainability in the Twenty-first
    Century

2
The Environment in Introductory Economics
Source Green, Tom. 2012. Introductory Economics
Textbooks, Int Journal of Pluralism and Econ
Education 3(2)189-223.
3
The Environment in Introductory Economics
Source Green, Tom. 2012. Introductory Economics
Textbooks, Int Journal of Pluralism and Econ
Education 3(2)189-223.
4
Chapter 0 Economics and Well-Being
  • Define economics as the study of how people
    manage their resources to meet their needs and
    enhance their well-being
  • 34 well-being concepts with graphs (gender
    inequality, subjective well-being, work hours,
    environmental impacts)
  • Define concept, summarize results along with a
    simple graph

5
Chapter 1 Economic Activity in Context
Traditional Texts Economics in Context
Economic activities are production, distribution, and consumption.
The primary goal of economics is efficiency.
Production possibilities frontier defines tradeoffs.
Circular flow model with households and businesses as main economic agents.
Add a fourth essential activity resource
maintenance.
Efficiency is an intermediate goal. Final goals
include happiness, security, a sense of meaning,
fairness, and ecological balance.
Resource maintenance is critical in balancing
present versus future production.
Contextual model embeds economic activity within
a broader social and environmental context.
6
Economic Activity in Context
7
Key Environmental Concepts
Chapter Environmental Topics
Consumption and the Consumer Society
Taxes and Tax Policy
Capital Stocks and Resource Maintenance
Introduction to Macroeconomics
The Structure of the U.S. Economy
Section on Consumption in an Environmental
Context ecological footprint, green
consumerism, ecolabeling.
Discussion of environmental taxes, including
carbon taxes
Section on Natural Capital renewable vs.
nonrenewable resources, sustainable socioeconomic
system
Section on Sustainability restorative
development, precautionary principle, correlate
CO2 growth to economic growth
Discussions of agriculture, water issues, the
energy system
8
The Economics of the Environment
Detailed welfare analysis of externalities
More detailed welfare analysis of externalities
9
The Economics of the Environment
Section Title Topics
Valuing the Environment
Environmental Policies in Practice
  • Difference between economic and intrinsic value
  • Importance of nonuse values
  • Discussion of environmental valuation techniques
  • Uses and limitations of cost-benefit analysis
  • Discussion of precautionary principle
  • Discussion of four main environmental policies
    standards, technology-based approaches, taxes,
    tradable permits
  • Summary of major environmental regulations
  • Does environmental protection reduce economic
    welfare and lead to job losses?

10
Common Property Resources and Public Goods
Detailed analysis of common property resources
and public goods, including discussion Tragedy
of the Commons and Elinor Ostroms work.
11
Common Property Resources and Public Goods
  • Entire section on climate change 6 pages!
  • Summary of scientific consensus
  • Climate change data and projections
  • Overview of the Stern Review
  • Discussion of climate policies in practice
    including carbon taxes in India and Canada, the
    EU emissions trading scheme, and the Kyoto
    Protocol
  • Box on the Earth Atmospheric Trust

12
Macroeconomic Measurement Environmental and
Social Dimensions
  • Presentation of alternative indicators with
    environmental component, including Genuine
    Progress Indicator, Better Life Index, and Happy
    Planet Index
  • Section on Accounting for the Environment
    adjusting GDP for natural capital depreciation,
    valuing natural capital, environmental accounting
    in China

13
Growth and Sustainability in the Twenty-First
Century
  • Section on Macroeconomics and Ecological
    Sustainability
  • Overview of major environmental issues including
    population, resource depletion, and waste
  • Discussion of the race between technology and
    resource depletion
  • Another climate change section! More material on
    science, economics and policies.
  • Section on Economic Growth and the Environment
  • Environmental Kuznets Curves
  • Policies for sustainable development green
    taxes, eliminating fossil fuel subsidies, and
    debt-for-nature swaps
  • Sustainable consumption and investment
  • Final section on Are Stabilization and
    Sustainability in Conflict?
  • Dalys steady-state economy
  • Harris Green Keynesian policies
  • Victors no-growth scenario for the Canadian
    economy
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