ECO6032 - Environmental Economics

Objectives:

On successful completion of the module, students will be able to:
Critically debate various theoretical approaches to climate change and the range of appropriate policy and market responses to ongoing environmental challenges.
Measure and interpret current empirical data from case studies to analyse the impact of environmental factors on open economies.
Estimate the relevance, consistency, and impact of current economic policy suggestions in dealing with environmental concerns.
Compare and contrast various economic strategies that can be applied in a range of environmental protection scenarios.

Content:

This module will introduce students to a range of environmental economics theories and polices, including the interrelationships between the economy and the environment, the tragedy of the commons, property rights, market failure and externalities, price rationing and price gouging, quantity rationing, tradable permits and optimal control theory. Students will also explore static and dynamic models of natural resource exploitation, as well as measure and appraise policy responses over the last few decades in terms of sustainable and environmental friendly economic development, and the role of multinational enterprises in this context.

Learning and Teaching Information:

The module will be delivered via a series of weekly 3-hour teaching blocks, comprising whole-group interactive lecture and seminar covering fundamental theories and applications. Lectures and seminars will be supported by in-depth applied workshops.

This module will present students with selected scenarios for basic analysis in order to develop both analytical competence and the ability to identify and apply appropriate techniques in a range of typical situations. Students will be provided case studies and empirical data to interpret, explain and illustrate specific concepts related to the drivers of environmental impact, environmental targets and policy instruments, sustainability-based approaches, environmental input-output analysis, and models of trade and the environment.

The module will also make use of current newsworthy case studies and developing business trends and so the nature of the topics and exercises will vary. Students will be provided with, and/or directed to, relevant reading and additional questions/ exercises to support their progress through the module material.

Lectures / seminars
Hours: 30
Intended Group Size: Cohort

Workshops / tutorials
Hours: 10
Intended Group Size: Cohort or variable-size groups

Guided independent study
Hours: 160

Further details relating to assessment
Group presentation: Students ability to appraise and compare policy and market responses to a particular scenario concerning environmental protection, as well as their ability to use input-output analysis to suggest further solutions will be assessed in a collaborative manner through a group presentation on an environmental policy or environmental agreement of their choice.

Individual report: The second assignment will assess students' ability to collect and interpret data for their discussion, the ability to calculate and question the intended and realized results of environmental policies, and their ability to identify areas of development in the impact of economic policy over the environment as well as advise key stakeholders in the process.

Formative feedback: Weekly lectures and tutorials are taught in an interactive manner, providing semi-formal discussion and debates, peer critique and feedback, as well as quizzes and individual or group presentations, which offer ample opportunities for ample feedback and feed forward to students before their assignments.

Assessment:

Fact File

Module Coordinator - Carmen Dorobat
Level - 6
Credit Value - 20
Pre-Requisites - NONE
Semester(s) Offered -

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