Gwybodaeth Modiwlau

Due to staff movements (from IBERS to SMB), this proposed module will directly replace the former IBERS BR23620 and RS25210 modules . The content of this restructured module will thus remain largely the same as that of the former BR23620 module. A few minor amendments have been made to the module:

• Some of the policy case studies have been changed to align them more directly to the current environmental policy debate.
• The title is changed from ‘Rural Economic and Policy’ to ‘Environment and Economy’ to better reflect the interests of SMB students.
• The change from a level 2 module to a level 3 module reflects SMB’s policy to indicate all Part II modules as level 3. The module will, however, be made available to both level 2 and 3 students.

In terms of the academic rationale for this module, it considers the economic principles that underlie government and corporate intervention in agricultural, rural, environmental and regional policy. The development of an understanding of the fundamental economic relationships will enable opportunities and problems for rural areas to be discussed and appropriate policy responses to be identified. The module content also relates directly to Prof Christie’s research interests.

This module provides an analysis of how economic theory may be used by governments, NGOs and the business sector to help protect and enhance our natural environment.

Basic concepts in economic theory are introduced, so that understanding is developed of how markets are supposed to achieve economically efficient allocations and why, when they fail to do so, environmental degradation often results. The module then explores how governments, NGOs and businesses might intervene to address environmental issues, and evaluates the effectiveness of a range of policy instruments including command-and-control instruments and incentive-based instruments. The module also explores why economists attach importance to the monetary valuation of environmental goods and services, and provides a critique of techniques for doing so. Finally, we explore how such values might be incorporated into the design and evaluation of environmental policies.

The above theories are then demonstrated in practice with detailed assessment of a series of contemporary environmental policy case studies, including agri-environmental policies, biodiversity and ecosystem services, climate change (carbon trading), sustainable business management and ‘Green’ GDP.

• Economic growth and resource use
• Economic paradigms: Neo-classical economics, environmental economics, ecological economics, deep ecology.
• Scarcity, choice and economics systems
• How markets work: demand and supply
• Market failure
• Policy instruments for the environment
• Valuation of the environment
• Policy appraisal and evaluation
• Case studies: agri-environmental policies, biodiversity and ecosystem services, climate change (carbon trading), sustainable business management and ‘Green’ GDP.