Unit 1 | Unit 2 | Unit 3 | Unit 4 | Unit 5 | Unit 6 | Unit 7 | Unit 8 | Unit 9 | Unit 10                
1.0 Introduction
2.0 Origins and scope of environmental economics
3.0 Basic economic principles
4.0 The neo-classical economic model
5.0 An introduction to market failure
      and government failure

1.1 Defining economics and the environment
1.2 Links between the economy and the environment
1.3 The first two laws of thermodynamics



Section 1 Self Assessment Questions
2.1 Origins of environmental economics
2.2 Scope of the discipline




Section 2 Self Assessment Questions
3.1 Positive and normative economics
3.2 Applying scientific methods and reasoning
3.3 Terminology and basic concepts



Section 3 Self Assessment Questions
4.1 Perfect competition
4.2 Methods of economic analysis
4.3 Demand
4.4 Supply
4.5 Supply and demand - finding the market equilibrium
4.6 Pareto Optimality
Section 4 Self Assessment Questions
5.1 Market failure
5.2 Government failure




Section 5 Self Assessment Questions
- Key Readings
- Further Readings
- References
- Summary
- Unit Self-Assessment
- Key Terms and Concepts
1.0 Property rights and the environment
2.0 A typology of externalities
3.0 The optimal level of pollution
4.0 Coasian bargaining
5.0 Voluntary approaches to environmental policy

- Key Readings
- Further Readings
- References
- Summary
- Unit Self-Assessment
- Key Terms and Concepts
1.1 Property rules and property rights





Section 1 Self Assessment Questions
2.1 Defining an externality
2.2 Types of externalities




Section 2 Self Assessment Questions
3.1 Defining the optimal level





Section 3 Self Assessment Questions
4.1 The Coase theorem
4.2 Criticism of Coasian bargaining




Section 4 Self Assessment Questions
5.1 Voluntary approaches in principle
5.2 Theory of voluntary approaches
5.3 Voluntary approaches: empirical evidence of performance



Section 5 Self Assessment Questions
1.0 Policy formulation and concept of environmental
      policy strategy (EPS)

2.0 Criteria for evaluating environmental policies
3.0 Standards
4.0 Taxes
- Key Readings
- Further Readings
- References
- Summary
- Unit Self-Assessment
- Key Terms and Concepts
1.1 Formulating policy
1.2 Elements of EPS
1.3 The interrelation of the four elements of a strategy



Section 1 Self Assessment Questions
2.1 Cost-effectiveness and economic efficiency
2.2 Fairness
2.3 Dynamic efficiency
2.4 Enforceability
2.5 Other criteria

Section 2 Self Assessment Questions
3.1 Basic theory
3.2 Evaluating standards
3.3 Standards in practice



Section 3 Self Assessment Questions
4.1 Basic theory
4.2 Evaluating taxes
4.3 Taxes in practice



Section 4 Self Assessment Questions
1.0 Subsidies
2.0 Marketable permit system
3.0 Policy instruments in practice: tackling global
      warming


- Key Readings
- Further Readings
- References
- Summary
- Unit Self-Assessment
- Key Terms and Concepts
1.1 Subsidies in principle
1.2 Evaluating subsidies
1.3 A case study: agri-environmental management agreements



Section 1 Self Assessment Questions
2.1 Permits in principle
2.2 Evaluating marketable permits
2.3 Marketable permits in practice



Section 2 Self Assessment Questions

3.1 Environmental decision-making and global warming
3.2 Kyoto Agreement and the EU Emission Trading Scheme
3.3 Choice of policy instrument: combining tax and marketable permits
3.4 Sources of uncertainty in environmental economics
3.5 Policy choice and uncertainty

Section 3 Self Assessment Questions
1.0 Targeting
2.0 National or local standards for environmental
       regulations

3.0 Diagnosing non-compliance
4.0 Enforcement strategies and costs
5.0 Liability as environmental policy
6.0 Effectiveness of liability as a policy instrument
- Key Readings
- Further Readings
- References

1.1 The role of the addressee, regulation area and instrument target
1.2 Target for intervention
1.3 The choice of target
1.4 Addressee
1.5 Regulation area

Section 1 Self Assessment Questions
2.1 The case for a local regulation area
2.2 The case for a national regulation area
2.3 National or local: which is best?



Section 2 Self Assessment Questions
3.1 Asymmetric information, adverse selection and moral hazard
3.2 Factors determining compiance behaviour
3.3 Optimal policy design under asymmetric information when production
      and pollution are interdependent



Section 3 Self Assessment Questions
4.1 Compliance monitoring
4.2 Imposing penalties
4.3 Effect of enforcement costs on optimal level of pollution



Section 4 Self Assessment Questions
5.1 Defining liability
5.2 The legal definition of liability




Section 5 Self Assessment Questions
6.1 The complexities of the real world
6.2 Liability laws in practice
6.3 Combining liability and safety standards - another hybrid policy instrument



Section 6 Self Assessment Questions
- Summary
- Unit Self-Assessment
- Key Terms and Concepts
1.0 Introduction
2.0 The theoretical basis of WTP and WTA
3.0 Valuation methods and total economic value
- Key Readings
- Further Readings
- References
- Summary
- Unit Self-Assessment
- Key Terms and Concepts
1.1 Utility theory
1.2 Consumer surplus
1.3 Indifference theory



Section 1 Self Assessment Questions
2.1 Welfare measures: marketed goods
2.2 Welfare measures: non-marketed goods
2.3 Welfare measures of environmental degradation
2.4 Divergence between WTP and WTA measures


Section 2 Self Assessment Questions
3.1 An overview of environmental valuation methodologies
3.2 Total economic value




Section 3 Self Assessment Questions
1.0 Non-demand curve approaches
      in poverty alleviation

2.0 Travel cost
3.0 Hedonic pricing methods
- Key Readings
- Further Readings
- References
- Summary
- Unit Self-Assessment
- Key Terms and Concepts
1.1 Effect on productivity approach (EOP)
1.2 Opportunity cost measures
1.3 Human capital (forgone earnings) measures
1.4 Replacement costs and shadow project approaches
1.5 Averting behaviour and preventive expenditures approach

Section 1 Self Assessment Questions
2.1 Introduction
2.2 Zonal travel cost method (ZTCM)
2.3 Individual travel cost method (ITCM)
2.4 Random utility models (RUMs)
2.5 Uses and limitations of the techniques
2.6 Uses and limitations of the techniques
Section 2 Self Assessment Questions
3.1 Introduction
3.2 Property value approach
3.3 Wage differential approach (WD)
3.4 Uses and limitations of hedonic pricing approaches
3.5 Case study

Section 3 Self Assessment Questions
1.0 Contingent valuation method
2.0 Choice experiments and contingent ranking
3.0 Transfer methods
- Key Readings
- Further Readings
- References
- Summary
- Unit Self-Assessment
- Key Terms and Concepts
1.1 Introduction
1.2 Basic concepts
1.3 Methodological steps
1.4 Case study


Section 1 Self Assessment Questions
2.1 Introduction
2.2 Choice experiments
2.3 Case studies



Section 2 Self Assessment Questions
3.1 Introduction
3.2 Critical aspects of the transfer
3.3 Case studies



Section 3 Self Assessment Questions
1.0 Introduction
2.0 Discounting and net present values
- Key Readings
- Further Readings
- References
- Summary
- Unit Self-Assessment
- Key Terms and Concepts
1.1 Basic concepts of cost-benefit analysis
1.2 Methodological steps in CBA
1.3 A hypothetical example
1.4 Cost effectiveness
1.5 CBA in practice

Section 1 Self Assessment Questions
2.1 Introduction
2.2 Discount rates
2.3 Different discounting models
2.4 Criticisms of discounting
2.5 Discounting and climate change policy

Section 2 Self Assessment Questions
1.0 Indicators of scarcity
2.0 The national accounts and sustainable development
3.0 Alternative measures
- Key Readings
- Further Readings
- References
- Summary
- Unit Self-Assessment
- Key Terms and Concepts
1.1 What attributes should a scarcity indicator possess?
1.2 Alternative scarcity indicators
1.3 Indicators in practice: oil



Section 1 Self Assessment Questions
2.1 National accounting and sustainable development
2.2 Criticisms of conventional systems of national income accounting
2.3 Modifying the system of national accounts
2.4 Green GDP


Section 2 Self Assessment Questions
3.1 Introduction
3.2 Sustainable development and weak sustainability
3.3 Sustainable development and strong sustainability



Section 3 Self Assessment Questions