Support your answer by providing an example of where there has been a failure of markets, or a failure of government enforcement of environmental regulation, to protect the environment, and how this failure was related to the nature of a public good.

Essay Question 1
This first part of the course has introduced you to the larger picture of Environmental Economics, and provided some arguments for why it came into existence. One basic reason is this proposition: “Environmental quality is the ultimate public good.”
Please explore this in more detail by explaining the nature of a public good, and how environmental quality exhibits the characteristics of a public good. Attempt to form a personal voice, where you take a stand about why you believe treating the environment as a public good that should be cared for by all is important to you.
Note that this topic has been echoed in literature, activism and philosophy, down through history. Think of Henry David Thoreau, John Muir, Rachel Carson or even Teddy Roosevelt (who helped create the USFS, five national parks, including Mesa Verde, Devils Tower and the Grand Canyon, and the Roosevelt National Forest that lies within Larimer and Boulder County) as examples that might inspire you.
Support your answer by providing an example of where there has been a failure of markets, or a failure of government enforcement of environmental regulation, to protect the environment, and how this failure was related to the nature of a public good.
Your answer should be composed using the Student Template provided in the Course Documents section, be no less than two, and no more than five, pages in length. Do not use any citations or footnotes, as this should be an expository essay, i.e. in your own words. Upload your answer to the dropbox provided for Essay 1.
(Note: the Student Template is formatted as Arial 12 point font, 1.5 line spacing, with page numbers.)

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