Sorry, this module is not currently running in 2019-20.
EC304 Principles of Economics; EC305/EC306 Mathematics Mode A or B; EC309 Statistics for Economics
OverviewThis module introduces you to environmental economics and economics generally. A key objective of the module is to help you develop an ability to apply economic thinking to environmental problems. The module considers various aspects of environmental economics including why pollution occurs and how policy can be designed and implemented to deal with it, how to place economic value on the environment and how to understand sustainable development in microeconomic terms.
The module is divided into three parts. In Part A we examine the relationship between the economy and the environment. In Part B we consider how environmental policy can be designed, implemented and evaluated in relation to environmental pollution. In Part C we examine issues of environmental valuation, which is a rapidly growing area of research in environmental economics. The emphasis in all parts of the course is to understand the links between theory and practice.
This module appears in:
20 lectures, 10 seminars
Method of assessment
20% coursework, consisting of one in-course test (10%) and one 1,500 word essay (10%); 80% written examination
No specific textbook is recommended but good environmental texts include:
N Hanley, J F Shogren and B White, Introduction to Environmental Economics (2nd ed), Oxford University Press, 2013
T Tietenberg and L Lewis, Environmental and Natural Resource Economics (8th ed), Pearson International Edition, 2009
C D Kolstad, Intermediate Environmental Economics (2nd ed), Oxford University Press, 2011
By the end of this module you should
• understand the main economic principles that underpin environmental economics
• be able to understand and to evaluate environmental policy instruments using economics
• be able to produce, interpret and explain values placed on the environment by economists
• understand the meaning of sustainable development from an economic perspective.