Available in 2012
|Callaghan Campus||Semester 2|
Previously offered in 2013
Policymakers are increasingly concerned about natural resource scarcity and the costs of waste and emissions from economic activity. Their strategic tools to address these environmental problems will impact on the way business is conducted and are particularly pertinent in developing countries that are subject to significant population growth.
This subject explores how markets fail in the management of natural resources and the prevention of externalities ranging from transport congestion to climate change. The ability of markets to adjust to environmental challenges through price and technology changes is examined. Government policies aimed at promoting market adjustment to sustainable development are then presented. A portfolio of strategic tools are analysed including green taxation, marketable permits and peak load pricing, which are all designed to address diverse environmental problems. An understanding of these policy strategies is increasingly important for successful planning by business.
Upon successful completion of this course, students will be able to:
1.Incorporate the concept of ecologically sustainable development into their economic thinking, in particular as it applies to the relationship between resource usage, production, waste management and climate change.
2.Appreciate the role of market failure in respect of the environment and its implications for economic efficiency and sustainability.
3.Apply the strategic tools of taxation, tradeable permits and regulation to different environmental scenarios including pollution, water scarcity, traffic congestion, and sustainable land use.
4.Comprehend the synergies between population growth, poverty, economic growth and the environment.
This course includes but is not limited to the following topics:
1.Environmental valuation & cost benefit analysis
2.Market failure: externalities and property rights
3.The impact of population growth
4.Non renewable resources
6.Rural and urban land use
7.Pollution and climate change
8.Transport: congestion and emissions
9.Recycling and waste management
10.Sustainable development and international environmental policy
This course replaces ECON3320 Environmental Economics
This course is not available to students who have successfully completed ECON3320 Environmental Economics.
Students are expected to have advanced to third year courses.
Modes of Delivery
Tutorial: for 1 hour(s) per Week for 12 weeks
Lecture: for 2 hour(s) per Week for Full Term