Teaching the economics of environmental policy with applications to energy, air pollution and climate change

Abstract

In 1999, only 34 percent of Americans expressed concern about "global warming." By 2019, that number almost doubled with 65 percent expressing concern and 70 percent of Americans, age 18 to 34, worrying about it a great deal/fair amount. Taking the sage advice of Paul Samuelson to heart - material in an economics course should be relevant and of interest to students, I have significantly increased the amount of material and depth of coverage on the topics of air pollution, global climate change (GCC) and its link to our increasing demand for energy. I begin with basic coverage on the connections between energy production, energy consumption and changes to the environment (land, water, and air). After the basics, I introduce a simple overarching model to provide an analytical framework for calculating the full costs of producing and consuming energy resources. In keeping with an interdisciplinary approach to teaching, I emphasize the importance of understanding some basic science. I finish by returning to the roots of our discipline - Moral Philosophy.