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Economics Principles - ENV00009C

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  • Department: Environment and Geography
  • Module co-ordinator: Dr. Paul Hudson
  • Credit value: 20 credits
  • Credit level: C
  • Academic year of delivery: 2023-24

Module summary

In this module students become familiar with the way of thinking of economists, facilitating an understanding of the later application of microeconomics principles to environmental problems, and how economics can contribute to policy decision-making. This module will explain how economic thinking can be applied to address market failures.

Module will run

Occurrence Teaching period
A Semester 1 2023-24

Module aims

In this module, students become familiar with the way of thinking of economists, through an understanding of the approach and scope of both microeconomics and macroeconomics. The course is divided into three blocks: Block I is an introduction to the basic concepts in economics, Block II is devoted to the understanding of consumers' and producers' behaviours in a competitive market context, Block III focuses on market failures via imperfect competition and their implications for the role of government in the economy. This module uses applications and case studies from a variety of economic approaches to introduce fundamental concepts of economics of relevance to the management of environment and natural resources.

The material of this module is delivered through lectures and small-group tutorials. Tutorials are based on problem sets and short-answer questions, which will be distributed in class prior to the tutorial and working in groups is recommended. Tutorials are designed to fully understand core concepts, and help you to identify which areas you understand well, and where you may need to improve your knowledge. Extra practices and quizzes are available on the VLE.

Generic / Employability Skills:

  • Identify the essential features of an economic problem and apply this in an environmental management context.

  • Evaluate economics insights of environmental degradation issues.

  • Address public policy issues using the language and approach of economics.

  • Articulate economic reasoning, and communicate this to others orally and in writing.

  • Use and analysis of numerical economic information.

Module learning outcomes

On completion of this module a student will be able to:

  • Demonstrate an understanding of the principles of economic behaviour and decision making
  • Demonstrate an understanding of the theoretical economic framework governing different market structures
  • Apply economic theory driven analysis to evaluate the welfare effects of government interventions (e.g. price controls, taxes) on consumers and producers.

Assessment

Task Length % of module mark
Essay/coursework
Report		 N/A 25
Online Exam - 24 hrs (Centrally scheduled)
Closed exam		 8 hours 75

Special assessment rules

None

Reassessment

Task Length % of module mark
Essay/coursework
Essay		 N/A 100

Module feedback

Written feedback on assessments. Verbal feedback provided on a one-on-one basis and class basis throughout the module.

Indicative reading

Harris and Roach, (2018), Environmental and Natural Resource Economics (4th edition), Routledge

Acemoglu D. et al (2018) Microeconomics (2nd ed.) Pearson

Mankiw G. and Taylor M. (2008) Principles of Economics (2nd ed.) South-Western College Pub

Parking et al. (2014) Economics Pearson Education Limited

Sloman J. and Wride A. (2009) Economics (7th ed.) Prentice Hall

Berck P. and Helfand G. (2011) The Economics of the Environment, Pearson Addison-Wesley.

Krugman P. and Well R. (2012) Microeconomics (3rd ed.) Worth

Hussen A. (2000) Principles of Environmental Economics, 2nd Edition, Routledge. (Appendix A of Hussen provides a concise summary of key elements of microeconomics that could be helpful)

Blanchard O. et al. (2010) Macroeconomics (2nd ed.) Pearson

Connolly S. and Munro A. (1999) Economics of the Public Sector, Prentice Hall


The information on this page is indicative of the module that is currently on offer. The University is constantly exploring ways to enhance and improve its degree programmes and therefore reserves the right to make variations to the content and method of delivery of modules, and to discontinue modules, if such action is reasonably considered to be necessary by the University. Where appropriate, the University will notify and consult with affected students in advance about any changes that are required in line with the University's policy on the Approval of Modifications to Existing Taught Programmes of Study.