Environmental Economics

10 Units

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.

Faculty Faculty of Business and Law
School Newcastle Business School

Not currently offered

Previously offered in 2011, 2010, 2009, 2008, 2007, 2006, 2005, 2004

Learning Outcomes

Although 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.

  1. 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
Transition Not Applicable
Assumed Knowledge Students are expected to have advanced to third year courses.
Assessment Items
  • Examination: Class - Mid semester
  • Examination: Formal - Final examination
  • Group/tutorial participation and contribution -
Contact Hours
  • Tutorial: for 1 hour(s) per Week for Full Term
  • Lecture: for 2 hour(s) per Week for Full Term
Timetable 2018 Course Timetables for ECON3320
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