Economic decisions of governments, firms, and households affect climate change through changes in production, consumption and transport related emissions. Students taking the class will learn about the impacts of U.S. and European environmental policies and regulations on the economy.

The class will start by introduction to social choice mechanisms used to find the right balance between environmental protection and use, and then we will learn about various economic instruments that can induce firms and consumers to use the environment in a socially desirable or efficient way. We will also study the economic efficiency in markets, and why the markets fail when there are public goods, public bads, and externalities. The economic tools that governments use to correct the market failure include emission fees/taxes, tradable emission permits, liability, and prescriptive regulation. Also, we will discuss how the assignment of property rights affects the outcome of environmental policies.

We also plan to have one or two guest lectures delivered by researchers from the European Commission - Joint Research Centre in Seville, who analyze impacts of various environmental policies on the European economy. The program also includes excursions and weekend trips to various historic sites in Seville and to other cities in Spain, such as trips to Granada, Cordoba, and Madrid.

We may also have site visits to several power plants in Seville that use renewable energy sources, such as geothermal and solar power for electricity generation.

Program dates are set for May 17 – June 28, 2018 (Summer I, 2018). The program is open to all Texas Tech University students. Applications are now open and can be submitted online at Environmental Economics in Seville.

For more information email Dr. Misak Avetisyan in the Department of Economics at Texas Tech University:

Misak Avetisyan