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Welcome to Introduction to Energy and Earth Sciences Economics

Quick Facts about EBF 200

Instructors

Zhongyang He, PhD, Instructor of Energy Business and Finance, Department of Energy and Mineral Engineering, The Pennsylvania State University

Authors

Barry Posner, PhD, Adjunct Instructor, John A. Dutton e-Education Institute, The Pennsylvania State University

Andrew Kleit, PhD, Professor of Energy and Environmental Economics, Department of Meteorology and Atmospheric Science, The Pennsylvania State University

Farid Tayari, PhD, Assistant Teaching Professor of Energy Business and Finance, Department of Energy and Mineral Engineering, The Pennsylvania State University

Overview

EBF 200 is a required course in Penn State's online Bachelor of Arts in Energy Business and Policy. It is also required in the online Bachelor of Arts in Energy and Sustainability Policy as well as in Penn State's resident Bachelor of Arts in Energy Business and Finance. This course introduces the economic method of analysis to the environmental and resource questions facing society.

Learning Environment

This website provides the primary instructional materials for the course. The Resources menu links to important supporting materials, while the Lessons menu links to the course lessons. Canvas, Penn State's course management system, is used to support the delivery of this course as well, as it provides the primary communications, calendaring, and submission tools for the course.

Topics of Study

This class introduces the economic method of analysis to the environmental and resource questions facing society. It introduces a "paradigm," a way of thinking, that has four elements:

• What advantages can be gained by using market forces?
• What are the drawbacks of the market ("market failures") that may lead to a rationale for government intervention?
• What are the drawbacks of using government intervention ("government failure")?
• How do you apply these three concepts to real-world situations?