Environmental Economics - ECO00029I
Module summary
This module shows how the tools of modern economics may be used understand and analyze questions of natural resource use, environmental degradation and sustainable development in general.
Related modules
Additional information
prerequisite: Microeconomic Theory
Module will run
| Occurrence | Teaching period |
|---|---|
| A | Semester 2 2025-26 |
Module aims
Environmental concern has become increasingly prominent as a matter for public debate and policy. Sustainable development, pollution, global warming and the exploitation of renewable and non-renewable resources are at a fundamental level resource allocation problems on which economics has much to say. This unit will address these real world environmental problems with an analytically rigorous approach building on core microeconomic theory from the third semester.
The module aims to:
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Apply and develop tools and economic concepts already introduced in previous economics modules to analyse some of the major concerns of environmental economics such as pollution, sustainable development, destruction of biodiversity, and global warming.
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Introduce dynamic models to analyse the economics of renewable and non-renewable resources.
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Introduce valuation methods for environmental goods for which no market exists.
Module learning outcomes
At the end of the course students should have a good understanding of modern environmental economics and should be able to:
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Explain the contributions that economics can make to the analysis of environmental problems.
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Explain and evaluate different policy approaches to environmental issues such as pollution and the depletion of natural resources.
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Review and discuss critically the ways in which economists value the environment.
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Intelligently apply the economic tools and methods learnt to various environmental issues.
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Show an awareness of the important literature in this area and a knowledge of some major concerns in environmental economics.
Indicative assessment
| Task | % of module mark |
|---|---|
| Closed/in-person Exam (Centrally scheduled) | 75 |
| Groupwork | 25 |
Special assessment rules
None
Indicative reassessment
| Task | % of module mark |
|---|---|
| Closed/in-person Exam (Centrally scheduled) | 75 |
Module feedback
Feedback summative assessment
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Individual feedback at the same time as the mark
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Cohort feedback after the last submission
Indicative reading
Goodstein, Eban S. and Stephen Polasky (2021) Economics and the Environment (9th edition). Hoboken: John Wiley and Sons. (Course Text)
Hanley, Nick, Jason F. Shogren and Ben White (2007). Environmental Economics in Theory and Practice 2nd ed. Palgrave Macmillan: UK.
Teitenberg, Tom (2007). Environmental Economics and Policy 5th ed. Pearson: MA.
Stern, Sir Nicholas (2006) The Stern Review on the Economics of Climate Change, HM Treasury, UK.