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Department of Economics

Economic issues of the Environment and Development (MSc Research for International Development)

Course Code:
15PECC055
Unit value:
0.33
Year of study:
Year 1
Taught in:
Term 2

This course is only available to students enrolled on the MSc Research for International Development programme.

The course is divided into three sections: macro economic issues, microeconomic issues and the economics of climate change. On the macro side issues covered include 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. the course culminates with three lectures on the economics of climate change. The applicability of traditional economic analysis to this 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.

This course will delivered alongside the parallel course Economics of Environment and Development, worth 18 CATS credits. Students will have the opportunity to attend all lectures and tutorial, but the examinable component will be approximately  85% of the 18 CATS credits syllabus. The following topics will not be part of the examinable component of this course: Week 4 The Resource Curse

Objectives and learning outcomes of the course

On successful completion of the course, students will be able to:
1. Discuss the micro principles of environmental economics and natural resource management, illustrated through the subjects of environmental resources, population and fertility, and poverty and development.
2. Recognise and contrast the impact on the environment of market, institutional and collective failures
3. Analyse the impact of trade on the environment and the importance of natural resources in economic growth

Workload

Teaching takes place through a weekly 2 hour lecture and 1 hour tutorial

Method of assessment

Assessment weighting: 70% Exam, 30% Coursework. Resubmission of coursework regulations apply.

Suggested reading

1. Baland, J.M., and J.P. Platteau (1996). Halting Degradation of Natural Resources. FAO and Oxford      University Press.
2. Barbier E (2006). Natural Resources and Economic Development. Cambridge University Press.
3. Daspgupta P (1993). An inquiry into well-being and destitution. Oxford : Clarendon Press         A330.91724 /682771
4. Hanley N., J.Shogren and B.White. (1997). Environmental Economics in Theory and Practice. 1st     edition only. Basingstoke: Macmillan.  A333.7 /783687    
5. Lopez R and Toman M (2006). Economic Development and Environmental Sustainability. The     Initiative for Policy Dialogue Series. Oxford University Press.