This course offers an introduction to environmental Management and economics and starts with a market failure from the microeconomics perspective. Like standard microeconomics courses, the focus is on the firm and household decisions and the incentives that can drive them, but here the common question is when private incentives differ from social ones and whether and how to address that. As demonstrated in many examples, this is an important set of ideas for realities of how firms and governments interact.
Alex Pfaff holds a PhD in Economics from MIT (1995). Currently he is Professor of Economics and Public Policy at the Sanford School of Public Policy at Duke University. Previously he served as academic director of The Earth Institute at Columbia University. Pfaff is a renowned environmental economist developing projects in Brazil, Costa Rica, México, Pakistan and Bangladesh. His research areas include land and climate mitigation, water and climate adaptation, air quality and energy, information and audits from an economic perspective.