Welcome to APEC 3611w: Environmental and Natural Resource Economics!
Location: Ruttan Hall B25 (preferred) or online via Zoom (contact me to get link)
Timing: Monday/Wednesday/Friday, 10:40 to 11:30 am CT, from January 21, 2026 to May 4, 2026.
Syllabus: syllabus.html
Textbook: Markets and the Environment
Google drive (email me if you need access).
Video playlist for all lectures: https://www.youtube.com/playlist?list=PLir2vw2cQ_NuDtFiwNyQiU_WX_lTWYpUH
The course schedule (below) will be updated as we go.
Part 01. Global Context
Chapter 01. Introduction
Environmental and Natural Resource Economics in a Global Framing
2026-01-21
Lecture Page: lectures/01-introduction.html
Readings: None
Video: 01
Slides: 01
Deadlines: None
2026-01-23 Class canceled (extreme cold and ice)
Readings: Doughnut Economics (Optional) Chapter 1 in Doughnut Economics
Video: None
Slides: None
Deadlines: Weekly Questions 1 assigned.
Chapter 02. The Doughnut
Macroeconomic Feasibility
2026-01-26
Lecture Page: lectures/02-the-doughnut.html
Readings: No reading.
Video: 02
Slides: 02
Deadlines: Weekly Questions 1 due.
Part 02. Micro Foundations
Chapter 03. The Microfilling
Microeconomic Decision-making
2026-01-28
Lecture Page: lectures/03-the-microfilling.html
Readings:
Video: 03
Slides: 03
Deadlines:
Chapter 04. Supply and Demand
The power of equilibrium and Micro-Macro Synthesis
2026-01-30
Lecture Page: lectures/04-supply-and-demand.html
Readings: Chapter 4 in textbook (optional)
Video: 04
Slides: 04
Deadlines: Weekly Questions 2 assigned.
Chapter 05. Surplus and Welfare in Equilibrium
Why Economists think they are Good
2026-02-02
Lecture Page: lectures/05-surplus-and-welfare-in-equilibrium.html
Readings:
Video: 05
Slides: 05
Deadlines: Assignment 1 assigned.
Chapter 06. Optimal Pollution
A contradiction?
2026-02-04
Lecture Page: lectures/06-optimal-pollution.html
Readings: Chapter 2 in textbook.
Video: 06
Slides: 06
Deadlines: Weekly Questions 2 due.
2026-02-06
Slides: 06b
Part 03. Market Failure
Chapter 07. Market Failures and Public Goods
Why we can’t have nice things
2026-02-09
Lecture Page: lectures/07-market-failure.html
Readings: Chapter 5, Intro and Public Goods sections
Video:
Slides: 07a
Deadlines: Weekly Questions 3 assigned.
Chapter 08. Externalities
Spillovers and how to manage them
2026-02-11
Lecture Page: lectures/08-externalities.html
Readings: Chapter 5, Externalities section
Video:
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Deadlines: Assignment 02 assigned.
Chapter 09. Commons
Always a Tragedy?
2026-02-13
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2026-02-16
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Part 04. Macro Goals
Chapter 10. The Whole Economy
Partial vs General Equilibrium
2026-02-16
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Weekly Questions 3 due.
Chapter 11. GDP
Measuring what matters
2026-02-18
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Assignment 03 due. Microquiz 2 in class.
Chapter 12. Kuznets Curve
Does development improve the environment?
2026-02-20
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Chapter 13. Inclusive Wealth
A better metric?
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Sustainable Development
Methods to define sustainability
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Part 05. Climate Change
Chapter 15. Climate Change
The ultimate externality
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Chapter 17. Climate IAMs
DICE and Climate Skepticism
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Chapter 18. Air Pollution
Spillovers in the air
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Chapter 19. Water Pollution
Spillovers on the ground
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Exams
Midterm Exam
3/6/2026
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Part 06. Natural Resources
Chapter 20. Non-renewables
Will we run out?
Readings: Chapter 6
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Chapter 21. Will we run out?
How much should we extract?
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Chapter 22. Fisheries
Renewable resources 1
Readings: Chapter 7
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Chapter 23. Forestry
Renewable resources 2
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Chapter 24. Land as a resource
The forgotten input
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Chapter 25. Land-use change
Tools to predict where nature is at risk
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Part 07. Natural Capital
Chapter 26. Ecosystem Services
Return to the Micro-Macro relationship
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Chapter 27. Valuing Nature
Bottom-up methods for putting a monetary value on nature
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Chapter 28. Biodiversity
Species protection and the fundamental source of value
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Chapter 29. GIS and Carbon
Introduction and context
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Chapter 30. Sediment Retention
Methods and specific services
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Chapter 31. Ecosystem Tradeoffs
More services and policy directions
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Part 08. Future Scenarios
Chapter 32. Uncertainty
Risk, Uncertainty and Tipping Points
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Chapter 33. Possible Futures
Shared socio-economic pathways
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Chapter 34. Positive Visions
Nature Futures Framework
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Part 09. Policy Options
Chapter 35. Policy Analysis
Designing policies for earth-economy systems
Readings: Chapter 8
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Market-based Policies
Micro-level optimization
Readings: Chapter 9
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Chapter 37. Real World Policies
Quotas, Trading and Taxes
Readings: Chapter 10
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Part 10. Earth Economy Modeling
Chapter 38. Earth Economy Models
A video game for sustainability?
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Chapter 39. Gridded Models
Millions of markets
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Chapter 40. EE in Practice
GTAP-InVEST
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Conclusion
Where to go from here?
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Exams
Final Exam
8:00-10:00 AM
5/12/2026
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