ECON1340

Meets MNTC Goal Area 10 - People and the Environment. This course offers an introduction to the methodologies of economic analysis and a broad survey of environmental and natural resource issues applying those methodologies. It emphasizes the price system, markets, public choice theory and the scientific method. Students will investigate a range of topics including global warming, energy, air and water pollution, and public policy responses. This course has broad general education applications but is especially appropriate for economics, public policy and political science majors. Student Learning Outcomes

• Understand basic market functions, and the conditions under which markets fail.
• Demonstrate familiarity with environmental and natural resource issues.
• Synthesize relevant material from diverse sources and points of view regarding environmental challenges today and related public policy.
• Analyze primary and secondary sources of information regarding environmental challenges today and related public policy.
• Critically evaluate public policy affecting environmental and natural resource issues.
• Formulate and defend responses to environmental and natural resource challenges.
• Use economic modeling processes to depict and analyze environmental issues.
• Apply cost/benefit analysis to environmental issues.
• Demonstrate proficiency using the elements of the economic way of thinking, including tradeoffs, opportunity costs, marginal analysis, efficiency and the gains from trade.