Economics of Environment and Development
Key information
- Start date
- End date
- Duration
- Term 2
- Module code
- 15PECC048
- FHEQ Level
- 7
- Credits
- 15
- Department
- Department of Economics
Module overview
This course introduces students to economic perspectives on environmental and development issues.
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, we will critically investigate the theory and application of environmental policy, environmental governance and institution as well as valuation/commodification of nature. Then, the applicability of traditional economic analysis to economics of climate change is discussed including global inequality as well as 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 will also critically address the failure of international agreements such as Kyoto protocol to make any significant strides towards halting climate change.
Objectives and learning outcomes
On successful completion of the course, students will be able to:
- Apply core economic theory and economic understanding to applied environmental issues.
- Show critical understanding of a wide variety of analytical methods with economic theories and models.
- Select and apply appropriate economic techniques to solve environmental problems.
Method of assessment
AS1 - 10% / AS2 - 90%
Suggested reading
Background Readings
The course will draw from a number of texts in environmental and resource economics, as well as development economics. These include:
Baland, J.M., and J.P. Platteau (1996 or 2006). Halting Degradation of Natural Resources. FAO
and Oxford University Press.
Barbier E (2006). Natural Resources and Economic Development. Cambridge University Press.
Barbier E (2011) Capitalising on Nature Ecosystems as Natural assets, CUPS
Baumol W and Oates W (1988). The Theory of Environmental Policy. Cambridge University
Cambridge University Press
Grubb M et al (2014) Planetary Economics: Energy, Climate and the Three Domains of Sustainable Development, Routledge/Taylor and Francis
Initiative for Policy Dialogue Series. Oxford University Press.
Jamieson, 2014, Reason in a Dark Time, OUP
Lopez R and Toman M (2006). Economic Development and Environmental Sustainability. The
Ostrom E. (1990) Governing the commons: the evolution of institutions for collective action.
Press, Cambridge.
Raworth K (2017) Doughnut economics, Chelsea Green Publishing
Schumacher E F (1973) Small is Beautiful: Economics as if People Mattered, Harper Perennial
Disclaimer
Important notice regarding changes to programmes and modules.