Gwybodaeth Modiwlau

Module Identifier
Module Title
Environmental Economics
Academic Year
Semester 1
Reading List
Other Staff

Course Delivery



Assessment Type Assessment length / details Proportion
Semester Assessment Essay  (2,000 words)  30%
Semester Exam 3 Hours   70%
Supplementary Assessment Essay  (2,000 words)  30%
Supplementary Exam 3 Hours   70%

Learning Outcomes

On successful completion of this module students should be able to:

1. ​Critically evaluate the causes of market failure relating to environmental issues.

2. Critically evaluate economic models relating to optimal environmental standards.

3. Evaluate the effectiveness of a range of policy instruments for the environment.

4. Critically discuss and evaluate methodologies for environmental valuation.

5. Critically evaluate the application of economic principles to contemporary environmental policy issues.

Brief description

This module provides an analysis of how markets achieve economically efficient allocations and why, when they fail to do so, environmental degradation often results. The module 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 examines the monetary and non-monetary valuation of environmental goods and services, and the implications for the design and evaluation of environmental policies, as well as macro-economic indicators such as Green GDP measures. A series of contemporary environmental policy case studies illustrates applications of the relevant theory and policy tools.he module will draws on the Refinitiv database to illustrate the extent to which environmental indicators are being incorporated into policy and corporate decisions and actions.


Economic growth and resource use

Economic paradigms: Neo-classical economics, environmental economics, ecological economics, deep ecology.

How markets work: demand and supply

Market failure

Policy instruments for the environment

Valuing the environment

Policy appraisal and evaluation

Case studies: biodiversity and ecosystem services, pollution abatement, agri-environmental policies, climate change (carbon trading), sustainable business management and `Green’ GDP.

Module Skills

Skills Type Skills details
Application of Number Economic data interpretation and analysis.
Communication Develop communications skills including presentation and listening skills. Improve literacy skills by reading and writing about environmental economics.
Improving own Learning and Performance Devise and apply realistic self-learning strategies, review and monitor overall performance, be aware of time management techniques.
Information Technology Use a range of commonly used software packages, prepare and analyze data, present information.
Personal Development and Career planning Students will be able to use the skills learnt in this module to enhance their career opportunities.
Problem solving Identify problems. Develop creative thinking approaches to problem solving. Evaluate advantages and disadvantages. Construct a rational proposal in response to a problem.
Research skills Carry out research into economic issues with an environmental or ecological dimension. Identify relevant source material for assignments and case studies.
Subject Specific Skills Analysis of economic issues with an environmental or ecological dimension in the student’s chosen career and organization.
Team work Understand the concept of group dynamics, contribute effectively to group activities, participate in group discussions and seminars.


This module is at CQFW Level 6