Environmental Economics (RSEC5432)

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

Report and presentation from the practical experience in environmental economics (20%), one (1 hr.) mid-term exam (30%), and two hour (2 hr.) 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

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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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