Environmental Economics

Environmental Economics

Year: 2018-2019
Course code: ECON4011
Course credits: 15
Taught: Semester 1
Course co-ordinator: Miss Paulina Navrouzoglou
Entry requirements: Normally admission to an honours programme in Economics
Available to visiting students:Yes
Contact for more information: Gillian Weir

Course description

With the environment an increasingly dominant political issue presenting huge challenges to our future lifestyles, there is a growing demand for ecologically literate economists in all sectors. This course forms a useful introduction to this challenging and highly relevant area.

The main aims of this course are to identify and analyse the key issues confronting economies and economists in attempting to reconcile economic growth with environmental and ecological constraints, and to demonstrate the use of economic theory in analysing some contemporary environmental issues.  By the end of the course, students should be able to explain the implications and characteristics of open as opposed to closed systems; demonstrate an understanding of the various roles the environment plays in the economic process; appreciate the main causes of ‘environmental problems’; explain the criteria used to regulate environmental externalities; explain the relative role, merits and limitations of market based as opposed to and command and control mechanisms; recognise and apply various valuation techniques for non-marketed inputs and outputs; undertake a basic environmental cost-benefit analysis; and apply economic analysis to the basic issues involved in meeting the challenges of climate change.

This course complements the second semester Natural Resource Economics course.

Learning and teaching methods

20 hours of lectures (10 x 2 hours), Tuesday, 11:00-13:00

Course texts

Perman, R., May, Y., McGilvray, J. and Common M. (2003), Natural Resource and Environmental Economics, London: Longman.

Assessment

An essay of 2,000 words (30%)
A 2-hour degree exam (April/May) (70%)

Formative Assessment: group presentation