ECON655-23S2 (C) Semester Two 2023

Environmental Economics

15 points

Details:
Start Date: Monday, 17 July 2023
End Date: Sunday, 12 November 2023
Withdrawal Dates
Last Day to withdraw from this course:
  • Without financial penalty (full fee refund): Sunday, 30 July 2023
  • Without academic penalty (including no fee refund): Sunday, 1 October 2023

Description

This course will apply microeconomic theory and welfare economics to the management and stewardship of the environment. We will begin by reviewing the ethical framework of welfare economics and its relation to concepts of sustainability. We will use welfare economics to frame the problems posed by public and common property goods, and by externalities more generally. We will see how welfare economics is applied to the problems posed by such goods using cost-benefit analysis. This framework will enable us to address diverse environmental problems. For example, how can we place a comparable value on environmental benefits? How much pollution of the air and water should we tolerate, and how can we reduce pollution to such levels in the least costly way? Can there be effective pollution control when individual contributions cannot be observed? What is economics contributing to the study of global warming, or the effects of trade liberalisation on the environment?

Learning Outcomes

Through their work in this course, students are expected to be able to:
- Identify and discuss central topics in environmental economics
- Understand and apply concepts related to economic efficiency, market failure, externalities, and
public goods.
- critically evaluate the potential and limitations of various policy mechanisms for pollution control
- critically evaluate the state and potential ways forward with regard to climate change damages and
policy
- communicate the findings of critical evaluation in written and oral form

Prerequisites

Subject to approval of the Head of Department

Guest Lecturer

Jamie Mullins (Visiting Erskine Fellow)

Assessment

Assessment Due Date Percentage  Description
Assignments 25% Due weeks 4, 7,8,10.
Participation and attendance 5%
Quizzes 35% Aug 23rd, Oct 11th.
Final paper 35% Oct 20

Textbooks / Resources

Recommended Reading

Keohane and Olmstead; Markets and the Environment ; 2nd Edition;

Tietenberg and Lewis; Environmental and Natural Resource Economics ; 10th Edition;

Indicative Fees

Domestic fee $1,037.00

* All fees are inclusive of NZ GST or any equivalent overseas tax, and do not include any programme level discount or additional course-related expenses.

For further information see Department of Economics and Finance .

All ECON655 Occurrences

  • ECON655-23S1 (C) Semester One 2023 - Not Offered
  • ECON655-23S2 (C) Semester Two 2023
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