Peter J Wilcoxen > ECN 410 Environmental and Resource Economics

Five Minute Exercises

Here are the five minute exercises from class. Each entry is a link to a page with the original problem and the final numerical answer.

Fundamental Concepts

Jan 19: Finding a Market Equilibrium
Jan 21: Calculating Market Demand
Jan 26: Market Equilibrium with Multiple Sellers
Jan 28: Present Value of a Stream of Payments
Feb 2: Net Present Value
Feb 4: Expected Value and Fair Insurance

Externalities, Pollution Control and Environmental Policy

Feb 9: Single Source Pollution Control
Feb 11: Externality Tax Revenue
Feb 16: Recycling Incentives
Feb 18: Efficiency with a Positive Network Externality
Feb 23: Efficient Abatement
Feb 25: Finding the Efficient Amount of Abatement with Multiple Sources
Mar 2: Finding the Equilibrium Price of an Emissions Permit
Mar 4: Shifting Compliance Costs Completely via a Permit System
Mar 9: No exercise
Mar 11: Midterm
Mar 16: Spring Break
Mar 18: Spring Break
Mar 23: Deadweight Loss Due to an Incorrect Permit System
Mar 25: Waivers Sold Under a Hybrid Policy
Mar 30: Class cancelled
Apr 1: Calculating the Excess Mortality due to an Environmental Risk
Apr 6: Risk Management
Apr 8: Applying the Travel Cost Method

Environmental Public Goods

Apr 13: Finding the Efficient Level of Biodiversity with Many Agents
Apr 15: Land Use With Option Value

Natural Resources

Apr 20: Changes in Proven Reserves
Apr 22: Efficient Allocation of Oil Between Two Periods
Apr 27: Finding the Equilibrium in a Two-Period Oil Market
Optional: A Two-Period Oil Market with Increasing Demand
Optional: Falling Extraction Costs
Apr 29: Quantity of a Backstop Resource
Optional: Effect of a Backstop on Prices
May 4: Exploration and Expected Drilling

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Peter J Wilcoxen, The Maxwell School, Syracuse University
Revised 05/04/2010