ECON 361–Environmental and Ecological Economics
Review for Final Exam
Tuesday, May 8, 2018—1:00 to 3:00 PM
I. This exam will assess your ability to apply terms and concepts in environmental and ecological economics to specific environmental policies. It will take the form of objective questions (multiple choice or fill-in the blank) about terminology and short essays that require you to think creatively about economic solutions to environmental problems.
As a reminder, we have used these concepts of marginal analysis and ethical distribution:
Socially efficient level of pollution
Marginal abatement cost
Marginal damage function
II. The areas of policy, and related terminology, are the following:ECON 361–Environmental and Ecological Economics
A. US Federal Water Pollution Policy
Conventional vs. nonconventional pollutants
Biochemical oxygen demand
Persistent vs. degrading pollutants
Technology-based effluent standards
(best available vs. best conventional)
Total Maximum Daily Load
Emission permit trading
Continuous vs. episodic emissions
Wastewater treatment plant
Why might the federal government apply technology-based water pollution control programs in some areas and ambient-based programs in others?
B. US Federal Air Pollution Policy:ECON 361–Environmental and Ecological Economics
Mobile source air pollution control
The Environmental Protection Agency has recently announced plans to reduce the CAFE standards for new vehicles. How can the equimarginal principle be applied to determine if the proposal results in an efficient outcome in terms of air pollution?
C. US Federal Policy on Toxic and Hazardous Substances
How might knowledge about hazardous substances lead to a more efficient labor market outcome in terms of managing workplace exposure? Is knowledge about hazardous substances sufficient to lead to an environmentally just outcome in communities of color where the majority of people live in households with low income and little political or economic influence?
D. US State and Local Policies Econ 361–Environmental and Ecological Economics
Abandoned mine drainage
MSW (Municipal Solid Waste)
Marginal recycling cost
Producer take-back program
Recycled content standards
On the King’s College campus, the CRS ambassadors hosted an electronic waste recycling program around Earth Day. Students in mechanical engineering at King’s take apart old electronic equipment to determine which elements are salvageable. What types of public-private partnerships can be forged on and off campus to reduce the electronic waste stream and possibly create revenue and jobs for local communities?
E. International Policy Comparisons, including Issues in Developing Countries
Paris Climate Agreement-econ 361–Environmental and Ecological Economics
Communal vs. individual property rights
Using Jeffrey Leonard’s model (see PowerPoint slides for: “Environmental Issues in Developing Countries”) as a framework, and material from Field & Field, be able to describe three policies developing countries should adopt to address the three areas of concern he names, if they are to sustainably balance the trade-off between what’s good for “the poor” today (economic growth) and what’s good for “the poor” tomorrow (environmental quality).