Environmental Economics

Course code ECON3320Units 10Level 3000Faculty of Business and LawNewcastle Business School

International, national, and local environmental policies have a major economic effect, with the costs and the benefits of policy alternatives being a central issue. Environmental Economics investigates economic theory and policy in respect of the use and protection of the natural and built environment. Topics include the reasons for pollution and how it might be controlled; the causes of resource degradation and resource management; issues in environmental policy evaluation; international dimensions of environmental problems and environmental economics in action. Students are encouraged to engage in critical and analytical approaches to both problem solving and policy design and evaluation.

Not available in 2014

Previously offered in 2011, 2010, 2009, 2008, 2007, 2006, 2005, 2004
ObjectivesAlthough the objective of the course is to clarify those technical capabilities of economics that may contribute to sound environmental decision-making, it is felt that the course should also serve a wider educational need by reflection on the growing magnitude of environmental problems and on the scope of the political process to envisage and build a desirable and sustainable future.

Upon successful completion of the course, it is intended you will be able to:
1.Integrate varying perspectives of environmental issues including those of a historical, political and cultural nature,
which concern pollution, urbanisation, natural resource management and conservation.
2.Comprehend the concept of market failure, environmental capital, bio-mimicry, and resilience, especially in terms of their
implications for policy.
3.Apply the methodology, role and limitations of cost-benefit analysis along with alternative approaches to policy evaluation
that are based on bio-mimicry and system resilience.
4.Review a range of micro-environmental economic policy instruments, including environmental taxes and marketable licenses as
well as broader kinds of regulation including bio-banking.
5.Examine macro-environmental policy concerns related to population growth, economic growth and life style, and considering
both less and more developed economies.
6.Analyse ethical dilemmas and political constraints that applied to the relationship between economy and environment, both
in the past, and for the future.
7.Analyse, evaluate and synthesise both quantitative and qualitative information to inform logical and rational argument,
which supports decision making and communication.
8.Demonstrate independent and collaborative learning supported by the ability to evaluate and challenge current knowledge.
Content1. Introduction
2. Environmental ethics
3. Sustainable Development
4. Market operation and failure (externalities)
5. Cost benefit analysis
6. Renewable and Non Renewable resources
7. Green taxes and environmental permits
8. Business and the environment
9. Waste management
10.Climate change and international environmental policy
Replacing Course(s)Not Applicable
TransitionNot Applicable
Industrial Experience0
Assumed KnowledgeStudents are expected to have advanced to third year courses.
Modes of DeliveryInternal Mode
Teaching MethodsLecture
Tutorial
Assessment Items
Examination: ClassMid semester
Examination: FormalFinal examination
Group/tutorial participation and contribution
Contact HoursTutorial: for 1 hour(s) per Week for Full Term
Lecture: for 2 hour(s) per Week for Full Term