|| RS25210 |
|| ECONOMICS OF THE ENVIRONMENT |
|| 2006/2007 |
|| Dr Michael Christie |
|| Semester 1 |
| Course delivery
|| Lecture || 2 x 1 hour lectures per week |
|Assessment Type||Assessment Length/Details||Proportion|
|Semester Exam||2 Hours Written examination Outcomes assessed: 1, 2, 3, 4, 5 ||100%|
|Supplementary Exam||2 Hours Written examination Outcomes assessed: All ||100%|
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.
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.
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:
a. To understand economic principles relating to market failure;
b. To discuss the characteristics of environmental goods;
c. To critically evaluate the application of economic principles to contemporary environmental policy issues.
.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.
** General Text
Markandya A (Ed) (1992) The Earthscan Reader in envirmental economics
Pearce D, Markandya A and Barbier E B (1989) Blueprint for a Green Economy
Pearce, DW and Turner, RK (1990) Economics of Natural Resouces and the Environment
** Recommended Text
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
This module is at CQFW Level 5