ENVS2007 Economics for the Environment

Later Year Course

Offered By	Fenner School
Academic Career	Undergraduate
Course Subject	Environmental Science
Offered in	First Semester, 2010 and First Semester, 2011
Unit Value	6 units
Course Description	Economics for the Environment is a course designed to provide students with an understanding of the ways in which the discipline of economics can be used to analyse environmental and natural resource use issues. The course begins with an explanation of what economics is. In this explanation, a role for economics in the consideration of environmental matters is established. Some time is spent exploring the potential for markets to solve environmental problems and this is accompanied by a parallel analysis of government, or ‘command and control' mechanisms for dealing with environmental issues. Other economic principles and techniques are also set out, including cost benefit analysis. With this background established, the remainder of the course is divided into two sections. The first deals with the economics of natural resources including water, forests, energy, agriculture and wildlife. The second involves the analysis of pollution issues ranging from local to global. Note: lectures in this course are attended by graduate students enrolled in EMDV8078, but there are separate tutorials.
Learning Outcomes	On satisfying the requirements of this course, students will have the knowledge and skills to: 1. explain how the discipline of economics, and economic tools such as cost-benefit analysis, can be used to analyse environmental and natural resource use issues 2. describe the potential for market and government ('command and control) mechanisms to adddress environmental issue 3. appreciate the role of economics in the management of natural resources, including water, forests, energy, agriculture and wildlife, at local, regional and global levels
Indicative Assessment	The course will be assessed on the basis of student performance in four modes of assessment: Three assignments randomly drawn at three different points in time during the semester from assignments set each week. (5% each) An oral presentation based on a written paper (15%) A mid semester test (closed book) (20%) A final examination (closed book) (50%)
Workload	Two one-hour lectures and a one-hour tutorial each week, plus up to seven hours per week individual study
Areas of Interest	Resource Management and Environmental Science
Requisite Statement	48 units towards a degree.
Incompatibility	SRES2007
Prescribed Texts	Tietenberg, T. (2007) Environmental Economics and Policy (5th edition). Boston: Pearson Addison Wesley.
Preliminary Reading	Heyne, P.T. (2000) The Economic Way of Thinking (9th edition). Prentice Hall, NJ.
Majors/Specialisations	Environmental Studies and Geography
Programs	Bachelor of Science/Bachelor of Science (Forest Sciences)
Science Group	B
Academic Contact	Professor Jeff Bennett

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