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Unit of study_
LAWS6342: Environmental Markets
2025 unit information
Environmental degradation is often caused by various forms of market failure. At the same time, it is recognised that market-based instruments (MBIs) can function as legitimate and effective legal tools for environmental protection. MBIs are instruments or regulations that encourage behaviour through market signals, rather than through direct regulation alone, and are applied broadly at both the international and national level to improve environmental quality and resource conservation. Markets are not, however, a panacea for the environmental issues we face, and MBIs can undermine environmental objectives if those instruments are not well designed and implemented. This unit will study the role of markets and financial incentives in addressing environmental and natural resource issues, and analyse the conceptual foundation for their use. It will then survey a range of MBIs, including marketable permits, offset programs and load-based licensing, across a diverse range of environmental issue areas, including climate change, renewable energy, water and biodiversity. The Unit will examine the key contributions MBIs can make to environmental regulation, as well as the relevant 'watchpoints' as these instruments develop in terms of environmental protection. Refer to the Sydney Law School timetable - https://canvas.sydney.edu.au/courses/4533/pages/postgraduate-lecture-timetable
Unit details and rules
Managing faculty or University school:
Sydney Law School
| Study level | Postgraduate |
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| Academic unit | Law |
| Credit points | 6 |
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Prerequisites:
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None |
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Corequisites:
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None |
| Prohibitions:
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None |
| Assumed knowledge:
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None |
At the completion of this unit, you should be able to:
- LO1. Critically analyse how environmental issues are regulated through MBIs and identify the ethical implications and significance of these instruments in environmental law.
- LO2. Critically evaluate the foundational principles of environmental markets and articulate their connection to ecologically sustainable development and their relationship to legal frameworks.
- LO3. Describe to an advanced level the regulatory characteristics of environmental markets and the underpinning considerations for their design ensuring effectiveness and compliance.
- LO4. Examine and differentiate the roles and responsibilities of various stakeholders in the governance and operation of MBIs.
- LO5. Communicate and defend personal perspectives on environmental markets, MBIs, and environmental regulation by employing sound and logically structured legal argument and be prepared to share these with diverse audiences
- LO6. Apply relevant legal research methodologies to investigate environmental markets and/or particular MBIs, appropriately synthesising primary and secondary sources and presenting findings in a balanced and scholarly manner.
Unit availability
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| Session | MoA ? | Location | Outline ? |
|---|---|---|---|
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Intensive May - June 2025
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Block mode | Camperdown / Darlington, Sydney |
There are no availabilities for previous years.
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Modes of attendance (MoA)
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