In this lecture, we introduce the moral justifications for economic modeling of sustainability problems, and then we transition to describing fundamentals of consumer choice theory (indifference curves, utility functions, budget constraints). This involves introducing Pareto optimality (Pareto movements and improvements, Pareto-efficient sets), which we will return to as we discuss social welfare later in the course.
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We continue to discuss the economics of natural resources in this lecture, with a particular focus on timber rotations. In the previous lect...
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This lecture session is meant to provide a student-driven, cumulative review of topics that could serve as a study guide for the upcoming fi...
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In this wrap-up lecture, we briefly cover government policy approaches for mitigating sustainability problems. We start with the Coasean id...
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