Module Identifier |
RS25210 |
Module Title |
ECONOMICS OF THE ENVIRONMENT |
Academic Year |
2002/2003 |
Co-ordinator |
Dr Michael Christie |
Semester |
Semester 1 |
Course delivery |
Lecture | 22 Hours 22 x 1 hour lectures |
Assessment |
Semester Exam | 2 Hours Written examination Outcomes assessed: 1, 2, 3, 4, 5 | 100% |
|
Supplementary Exam | 2 Hours Written examination Outcomes assessed: All | 100% |
Learning outcomes
On completion of this module, students will be able to :
1. Discuss the causes of market failure relating to environmental issues;
2. Discuss and evaluate economic models relating to optimal environmental standards;
3. Evaluate the effectiveness of a range of policy instruments for the environment;
4. Discuss and evaluate methodologies for environmental valuation;
5. Critically evaluate the application of economic principles to contemporary environmental policy issues.
Brief description
This module examines the economic principles underlying the analysis of environmental problems and applies these principles to contemporary policy issues. Topics covered in this module include discussion of economic principles and market failure; optimal environmental standards; Coase theorem, polluter pays principle, command and control policies, Pigovian (pollution) taxes, pollution subsidies, pollution permits; and environmental valuation methodologies. These principles are then applied to contemporary environmental policy issues.
Aims
This module examines the economic principles underlying the analysis of environmental problems and encourages students to apply these principles to contemporary policy issues.
The module aims are:
i. To understand economic principles relating to market failure;
ii. To discuss the characteristics of environmental goods;
iii. To critically evaluate the application of economic principles to contemporary environmental policy issues.
Transferable skills
.3 Use and analysis of numerical information
Students will complete a series of class exercises that will aim to demonstrate and enhance their understanding of economic principles.
.4 Writing in an academic context
Students will be required to undertake a written examination.
Reading Lists
Books
Folmer, H, Gabel, H L and Opschoor, H. (1997)
Principles of environmental and resource economics. Edward Elgar: Cheltenham
Hanley, N and Spash, C. (1992)
Cost benefit analysis and the environment. Edward Elgar: Cheltenham
Hodge, I. (1995)
Environmental economics. Macmillan
Markandya A (Ed). (1992)
The Earthscan Reader in envirmental economics. London: Earthscan
Pearce D, Markandya A and Barbier E B. (1989)
Blueprint for a Green Economy. Earthscan Publications
Pearce, DW and Turner, RK. (1990)
Economics of Natural Resouces and the Environment. Harvester Wheatsheaf