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Department of Economics

Environmental Economics

Course Code:
Course Not Running 2014/2015
Unit value:
Year of study:
Year 3
Taught in:
Full Year

This course introduces students to economic perspectives on environmental and development issues. The first five lectures in Term1 cover key theories and approaches in environmental economics. Examples from developing countries are discussed to illustrate the theories. The last five lectures in Term 1 introduce some sector specific environmental issues in developing countries. In Term 2, the course covers various macro and microeconomic issues as well as economics of climate change.  The macroeconomic topics covered in the lectures includes the relationship of the environment to growth and trade, sustainable economic development and the so-called "resource curse". On the micro side the theory and application of environmental policy in developing countries is discussed as well as the link between environment, poverty and population. Then, the applicability of traditional economic analysis to economics of climate change problem is discussed including the thorny issue of intergenerational equity, that is, how to find the balance between the well-being of future and current generations when deciding how to act on climate change. Lastly, we address the failure of international agreements such as Kyoto to make any significant strides towards halting climate change.

Objectives and learning outcomes of the course

On successful completion of the course, a student should be able to demonstrate the ability to: 

  • Discuss the micro principles of environmental economics and natural resource management, illustrated through the subjects of environmental resources, population, poverty and development.
  • Recognise and contrast the impact on the environment of market, institutional and collective failures
  • Analyse the impact of trade on the environment and the importance of natural resources in economic growth

Method of assessment

Assessment weighting: Exam 80% / Coursework 20%. Resubmission of coursework regulations do not apply to this course.