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Handbook 1997 : Faculty of Economics and Commerce : Economics

316-208 Economics of the Environment

Note:

Students may not gain credit for this subject and the subject 316-324 Environmental Economics.

Coordinator:

Dr D Alden

Prerequisite/s:

316-102 Introductory Microeconomics

Timetable:

Semester 2

Contact:

Three hours of lectures and tutorials per week for one semester

Objectives:

On completion of this subject students should be able to:

  • critically evaluate contemporary policy debates with reference to economic principles as applied to the analysis of the environment;

  • evaluate the role of 'free' markets in addressing environmental problems;

  • understand the different perspectives from which environmental issues can be approached.

Content:

Externalities and market failure; public goods; the economics of pollution, the optimal level of pollution, policy instruments including taxes, subsidies and marketable permits; pollution control in practice; Valuation methodologies; discounting and intertemporal efficiency; optimal use and depletion rules for renewable and exhaustible resources, the Hotelling rule; Cost-benefit analysis.

Assessment:

One 2-hour examination at the end of the semester (80%) plus assignments totalling approximately 2000 words (20%).

Prescribed Texts:

  • Common, M, Environmental and Resource Economics: An Introduction, Longman. 1988.
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Handbook 1997 : Faculty of Economics and Commerce : Economics 
Status:                   OFFICIAL 1997
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Copyright © University of Melbourne 1997.