Efficiency and optimality in the context of Environmental Economics i. Critically discuss why efficiency and optimality are central concepts in Environmental Economics referring also to the concept of market failures. Pollution targets and instruments to achieve them ii. As pollution is a major environmental problem, explain how efficient targets can be set and what instruments are available. Intervention in action iii. How important is information for environmental policy making? And what are the main challenges in international collaboration to mitigate climate change, as also evident in a number of initiatives for the protection of the environment such as the Conferences of the Parties of the UNFCCC (COPs)?
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