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.
- Semester 2 - 2016
On successful completion of the course students will be able to:
1. Assess competing theoretical arguments about interactions between the economy and the natural and built environment;
2. Demonstrate a deep analytical understanding of contemporary public policy issues of relevance to the environment;
3. Access and analyse economic and environmental data which are pertinent to contemporary debates internationally;
4. Engage in critical thinking through the comparative assessment of competing theoretical and policy frameworks;
5. Engage in team processes to analyse and communicate data outcomes.
This course includes but is not limited to the following topics:
- Environmental valuation & cost benefit analysis
- Market failure: externalities and property rights
- The impact of population growth
- Non renewable resources
- Renewable resources
- Rural and urban land use
- Pollution and climate change
- Transport: congestion and emissions
- Recycling and waste management
- Sustainable development and international environmental policy
Students are expected to have advanced to third year courses.
In Term Test: Mid-Semester Examination
Formal Examination: Final examination
Participation: Group work
Tutorial / Laboratory Exercises: Tutorial Exercises
Face to Face On Campus 2 hour(s) per Week for Full Term
Face to Face On Campus 1 hour(s) per Week for 12 Weeks