This course explores the theory behind and evidence on regulatory, tax, and other government responses to problems of market failure. Special emphasis is given to developing and implementing tools to evaluate environmental policies. Other topics include cost-benefit analysis, measurement of the benefits of non-market goods and costs of regulations, and the evaluation of the impact of regulations in areas such as financial markets, workplace health and safety, consumer product safety, and other contexts.
This course explores the proper role of government in the regulation of the environment. It will help students develop the tools to estimate the costs and benefits of environmental regulations. These tools will be used to evaluate a series of current policy questions, including: Should air and water pollution regulations be tightened or loosened? What are the costs of climate change in the U.S. and abroad? Is there a "Race to the Bottom" in environmental regulation? What is "sustainable development"? How do environmental problems differ in developing countries? Are we running out of oil and other natural resources? Should we be more energy efficient? To gain real world experience, the course is scheduled to include a visit to the MIT cogeneration plant. We will also do an in-class simulation of an air pollution emissions market.
Urban governance comprises the various forces, institutions, and movements that guide economic and physical development, the distribution of resources, social interactions, and other aspects of daily life in urban areas. This course examines governance from legal, political, social, and economic perspectives. In addition, we will discuss how these structures constrain collective decision making about particular urban issues (immigration, education…). Assignments will be nightly readings and a short paper relating an urban issue to the frameworks outlined in the class.
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