Lecture 1

Syllabus and Course Outline

Byeong-Hak Choe

SUNY Geneseo

August 25, 2025

Instructor

Instructor

Current Appointment & Education

  • Name: Byeong-Hak Choe.

  • Assistant Professor of Data Analytics and Economics, School of Business at SUNY Geneseo.

  • Ph.D. in Economics from University of Wyoming.

  • M.S. in Economics from Arizona State University.

  • M.A. in Economics from SUNY Stony Brook.

  • B.A. in Economics & B.S. in Applied Mathematics from Hanyang University at Ansan, South Korea.

    • Minor in Business Administration.
    • Concentration in Finance.

Instructor

Economics and Data Science

  • Choe, B.H., 2021. “Social Media Campaigns, Lobbying and Legislation: Evidence from #climatechange and Energy Lobbies.

  • Question: To what extent do social media campaigns compete with fossil fuel lobbying on climate change legislation?

  • Data include:

    • 5.0 million tweets with #climatechange/#globalwarming around the globe;
    • 12.0 million retweets/likes to those tweets;
    • 0.8 million Twitter users who wrote those tweets;
    • 1.4 million Twitter users who retweeted or liked those tweets;
    • 0.3 million US Twitter users with their location at a city level;
    • Firm-level lobbying data (expenses, targeted bills, etc.).

Instructor

Economics and Data Science

  • Choe, B.H. and Ore-Monago, T., 2024. “Governance and Climate Finance in the Developing World

  • Climate finance refers to the financial resources allocated for mitigating and adapting to climate change, including support for initiatives that reduce greenhouse gas emissions and enhance resilience to climate impacts.

    • We focus on transnational financing that rich countries provide poor countries with financial resources, in order to help them adapt to climate change and mitigate greenhouse gas (GHG) emissions.
    • Since the GHG emissions in developing countries are rapidly growing, it is crucial to assess the effectiveness of climate finance.
    • Poor governance (e.g., legal system, rule of law, and accountability) can be significant barriers to emissions reductions.

Instructor

Economics and Data Science

  • Choe, B.H. and Newbold, Steve, “Estimating the Value of Statistical Life (VSL) through Big Data

  • VSL is the monetary value associated with reducing the risk of death.

    • How much value would that be? How can we measure it?
    • How do government agencies use the VSL to decide which policies are worth the cost when they reduce the risk of death?

Syllabus

Syllabus

Email, Class & Office Hours

Syllabus

Course Description

  • This course will focus on the role of the environment in the theory and practice of economics.

  • Emphasis is given to the role of market failure in explaining the existence of pollution, to alternative public policies for pollution control and environmental management, and to problems associated with energy and climate change policies.

  • It will make use of microeconomic analysis at the intermediate level and will incorporate real-world examples.

Syllabus

Course Description

  • The class will be divided into three parts.
    • Part I will cover the ways in which markets fail to efficiently allocate resources in the presence of pollution along with environmental policies used to correct those failures.
    • Part II will focus on energy policy and the basics of climate-related science, technology, and adaptation policies.
    • Part III will focus on measuring the benefit of environmental protection.
  • The course allows one to have a smart, intelligent, and informed conversation about environmental, energy, and climate change policies.

Syllabus

Course Learning Outcomes

  • Understand the central concepts and theories of environmental economics.
  • Frame an environmental and energy policy question from an economist’s perspective.
  • Acquire a toolkit of methods for environmental and energy economics and public policies.
  • Understand the economic drivers and implications of climate change in order to be able to describe the whole purpose of the climate policies.

Syllabus

Course Requirements

  • Homework: 5 assignments
  • Quizzes: 2 in-class quizzes
  • Participation: In-person and online participation
  • Team Project: Climate Change and the Individual project with team presentation and proposal
  • Exams: 2 midterms and 1 final

Syllabus

Team Project – Climate Change and the Individual

  • Project topics should focus on climate change actions, advocacy, awareness, and outreach.
  • Each team will consist of three students.
  • Teams must develop a clear research question for their term paper.
  • The proposal may be theoretical, empirical, or a combination of both.
    • For empirical work, the proposed dataset must be approved in advance by Byeong-Hak Choe.
  • Your team is encouraged to participate in the campus-wide Ideas that Matter Student Challenge in Spring 2026.

Syllabus

Expectations for the Proposal

Your team’s proposal should critically examine a climate change issue by:

  1. Explaining the central dilemma facing society.
  2. Identifying the key questions that must be addressed to develop solutions, while acknowledging the trade-offs between objectives.
  3. Presenting appropriate evidence to analyze the competing interests involved.
  4. Formulating policy recommendations that logically follow from your analysis.

Syllabus

Required Materials

All required books are open access with free PDF files:

Syllabus

Syllabus

  • Economics and the Environment by Eban S. Goodstein, Jason Wong, and Stephen Polasky (10th Edition; Henthforce, GWP)
  • Environmental and Natural Resource Economics, by Tom Tietenberg and Lynne Lewis (12th Edition; Henthforce, TL)
  • Introduction to Environmental Economics, by Nick Hanley, Jason Shogren, and Ben White (3rd Edition; Henthforce, HSW)
  • Environmental and Natural Resource Economics: A Contemporary Approach, by Jonathan Harris and Brian Roach (5th Edition)

Syllabus

Course Contents and Schedule

Syllabus

Course Contents and Schedule

Syllabus

Class Schedule

  • No Classes
    • Week 2 (Sep 1): Labor Day
    • Week 8 (Oct 13–14): Fall Break
    • Week 14 (Nov 26–28): Thanksgiving Break

Syllabus

Class Schedule

  • Homework, Quiz, Exam & Team Project
    • Week 4 (Sep 15–19): Homework 1:
    • Week 7 (Oct 6–10): Homework 2, Quiz 1 & Midterm Exam 1
    • Week 10 (October 31, Friday, 11:59 P.M.): Project Kickoff Report
    • Week 11 (Nov 3–7): Homework 3
    • Week 13 (Nov 17–21): Homework 4, Quiz 2, & Midterm Exam 2
    • Week 15 (Dec 1–5): Team Presentations
    • Week 16 (Dec 8-12): Homework 5
    • Week 16 (December 10, Wednesday, 8:30 A.M.-10:30 A.M.): Final Exam
    • Week 17 (December 16, Tuesday, 11:59 P.M.): Project Proposal

Syllabus

Grading

\[ \begin{align} \quad\\ &\text{(Total Percentage Score)} \\ = &\;\;\;\, 0.05 \times \text{(Attendance)} \\ &+ 0.05 \times \text{(Quiz & Participation)}\\ &+ 0.20 \times \text{(Homework)}\\ &+ 0.20 \times \text{(Team Project)}\\ &+ 0.50 \times \text{(Exams)} \end{align} \]

Syllabus

Grading - Attendance & Homework

  • You are allowed up to 6 absences without penalty.

    • Send me an email if you have standard excused reasons (illness, family emergency, transportation problems, etc.).
  • For each absence beyond the initial six, there will be a deduction of 1% point from the Total Percentage Grade.

  • The single lowest homework score will be dropped when calculating the total homework score.

    • Each homework except for the homework with the lowest score accounts for 25% of the total homework score.

Syllabus

Grading

\[ \begin{align} &\quad(\text{Midterm Exam Score})\\ &= \max\left\{0.50 \times \text{(Midterm 1 Score)} + 0.50 \times \text{(Midterm 2 Score)},\right.\\ &\qquad\quad\;\,\left.0.33 \times \text{(Midterm 1 Score)} + 0.67 \times \text{(Midterm 2 Score)}\right\}. \end{align} \]

  • The Midterm Exam Score will be the higher of the following two calculations:

    1. The simple average of Midterm Exam 1 and Midterm Exam 2
    2. The weighted average, with one-third weight on Midterm Exam 1 and two-thirds weight on Midterm Exam 2
  • Midterm Exam 2 is cumulative.

Syllabus

Grading

\[ \begin{align} &(\text{Total Exam Score}) \\ =\, &\text{max}\,\left\{0.50\times(\text{Midterm Exam Score}) \,+\, 0.50\times(\text{Final Exam Score})\right.,\notag\\ &\qquad\;\,\left.0.25\times(\text{Midterm Exam Score}) \,+\, 0.75\times(\text{Final Exam Score})\right\}.\notag \end{align} \]

  • The Total Exam Score will be the higher of the following two calculations:

    1. The simple average of Midterm Exam and Final Exam
    2. The weighted average, with one-fourth weight on Midterm Exam and three-forth weight on Final Exam.
  • Final Exam is cumulative.

Syllabus

Make-up Policy

  • Make-up exams will not be given unless you have either a medically verified excuse or an absence excused by the University.

  • If you cannot take exams because of religious obligations, notify me by email at least two weeks in advance so that an alternative exam time may be set.

  • A missed exam without an excused absence earns a grade of zero.

  • Late submissions for homework assignment will be accepted with a penalty.

  • A zero will be recorded for a missed assignment.

Syllabus

Academic Integrity and Plagiarism

  • All homework assignments and exams must be the original work by you.

  • Examples of academic dishonesty include:

    • Representing the work, thoughts, and ideas of another person as your own
    • Allowing others to represent your work, thoughts, or ideas as theirs, and
    • Being complicit in academic dishonesty by suspecting or knowing of it and not taking action.
  • Geneseo’s Library offers frequent workshops to help you understand how to paraphrase, quote, and cite outside sources properly.

Syllabus

Artificial Intelligence (AI) Policy

  • Unless AI tools are explicitly permitted for homework or in-class quizzes, you must complete your work independently.

  • This means you should not use tools like ChatGPT for any aspect of our coursework.

  • Such use is a form of academic dishonesty. Use of such tools is not only cheating, it will also cheat you of the opportunity to learn and develop your own skills.

  • While AI will undoubtedly play important roles in our future society, you will be better able to utilize AI if you have developed your own critical thinking, writing, and analytical skills by doing your own work.

  • If you have any questions about this, please ask.

Syllabus

Accessibility

  • The Office of Accessibility will coordinate reasonable accommodations for persons with physical, emotional, or cognitive disabilities to ensure equal access to academic programs, activities, and services at Geneseo.

  • Please contact me and the Office of Accessibility Services for questions related to access and accommodations.

Syllabus

Career Design

  • To get information about career development, you can visit the Career Development Events Calendar (https://www.geneseo.edu/career_development/events/calendar).

  • You can stop by South 112 to get assistance in completing your Handshake Profile https://app.joinhandshake.com/login.

    • Handshake is ranked #1 by students as the best place to find full-time jobs.
    • 50% of the 2018-2020 graduates received a job or internship offer on Handshake.
    • Handshake is trusted by all 500 of the Fortune 500.