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 316-208 Economics of the Environment

Note

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

Credit Points

12.5

Coordinator

Professor J Freebairn

Prerequisites

316-102 Introductory Microeconomics.

Semester

2 (view timetable)

Contact

Three hours of lectures and tutorials per week for one semester

Subject Description

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%).

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