Environmental Economics (RSEC4132)

UNIT OF STUDY

The unit provides theoretical and empirical background necessary for a resource economist to be able to successfully function when faced with various environmental problems. The unit investigates economic aspects of a range of environmental issues. The studied concepts are exemplified with environmental problems related to agriculture (soil salinity, algal blooms, overgrazing etc.) as well as with environmental problems typical to Australia. The guiding economic themes are: competing uses of the environment / externalities, market failure, the importance of property rights, optimal allocation of pollution abatement, and the processes for making choices relating to non-market goods. Some social issues with environmental impacts are studied through exploration of the problems of population size and distribution, economic growth, and environmental regulation.

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Further unit of study information

Classes

2x1-hr lectures/week commencing week 1, 1x1-hr tutorial/week commencing week 2

Assessment

1xreport and presentation from the practical experience in environmental economics (20%), 1x1hr mid-term exam (30%), and 1x2hr final exam (50%)

Textbooks

Perman, R., Y. Ma, J. McGilvray and M. Common. Natural Resource and Environmental Economics. Pearson, 3rd Ed. 2003 Tom Tietenberg.,2008. Environmental and Natural Resource Economics Endres. 2011. Environmental Economics: Theory and Policy

Faculty/department permission required?

No

Unit of study rules

Prerequisites and assumed knowledge

ECON2001 or ECOS2001 or AGEC2103 or AGEC2003 or RSEC2031

Assumed knowledge: (ECON2001 or ECOS2001), (ECON2002 or ECOS2002), (AGEC3001or AGEC3101), AGEC2101, AGEC2105

Prohibitions

ECON3013, AGEC4035

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Non-award/non-degree study

If you wish to undertake one or more units of study (subjects) for your own interest but not towards a degree, you may enrol in single units as a non-award student.

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Cross-institutional study

If you are from another Australian tertiary institution you may be permitted to underake cross-institutional study in one or more units of study at the University of Sydney.

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