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Semester 2

Introductory Environmental Economics (ECNM08020)

Subject

Economics

College

CAHSS

Credits

20

Normal Year Taken

2

Delivery Session Year

2023/2024

Pre-requisites

Please see Additional Restrictions below.

Course Summary

This is a new course the details are not yet finalised. The information listed here is therefore subject to change but is provided to give students an indicative overview of the content, delivery and assessment. This course will introduce the students to the field of environmental economics. We will first discuss and analyse how markets, without policy intervention, fail to capture environmental externalities. We will then discuss and analyse in details the possible regulatory measures and policy instruments available to correct such market failures yielding what might be the socially optimal level of pollution. Then we will introduce various environmental valuation techniques that help identifying the costs and benefits of controlling environmental externalities. Finally, we will discuss various topics that may serve as extensions to the analysis frameworks presented thus far. This way the course will mix economic theory and practical applications. The course is delivered through a combination of lectures and tutorials.

Course Description

Provisionally, the broad aims of the course are to provide students with an in-depth understanding of: 1) The concepts of market failure, externalities, public goods and property rights applied on environmental issues, 2) Regulatory measures and policy instruments available to control environmental degradation resulting from economic activities, 3) Cost-benefit analysis applied on environmental policies and projects, 4) Environmental valuation techniques.

Assessment Information

Written Exam 75%, Coursework 25%, Practical Exam 0%

Additional Restrictions

It is not suitable for students to take this course alongside Economics 1 (ECNM08013).

view the timetable and further details for this course