The course “Introduction to Environmental and Resource Economics’ begins with an explanation of what economics is. In this explanation, a role for economics in the consideration of environmental matters is established. The potential for markets to solve environmental problems is explored and this is accompanied by an analysis of government, or ‘command and control’ mechanisms for dealing with environmental issues. Throughout the course economic principles and techniques are set out. These include opportunity cost, demand, transaction costs, property rights and benefit cost analysis.

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 address environmental issues, and (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. This course also provides the basic skills for further studies in environmental and resource economics.

The course will be assessed on the basis of student performance in four modes of assessment:

1. Two assignments randomly drawn at two different points in time during the semester from assignments set each week. (10% each)
2. An oral presentation based on a written paper (10%)
3. A mid semester test (closed book) (20%)
4. A final examination (closed book) (50%) 

3 contact hours per week plus 5 hours preparation, assignements and revision per week.

Tietenberg, T. and Lewis, L. (2010) Environmental Economics and Policy (6th edition). Boston: Pearson Addison-Wesley.

Delivery Mode:

1^st semester; lectures and tutorials.  On Campus.