Module ECON40615: ENVIRONMENTAL AND CLIMATE ECONOMICS

Department: Economics

ECON40615: ENVIRONMENTAL AND CLIMATE ECONOMICS

Prerequisites

• None

Corequisites

• None

Excluded Combination of Modules

• None

Aims

• To provide students with an advanced knowledge and critical understanding of the economic aspects of environmental problems, with a particular focus on climate change, and of specialist economic tools to analyse and solve those problems.

Content

• Topics may include:
• Pollution targets
• Pigouvian taxation
• Environment Externalities
• Property rights
• Coase's theorem
• International environmental problems and agreements
• Mitigation and Adaptation solutions to climate change
• Welfare change measurement for price and quality changes
• Direct and indirect methods for environmental valuation
• Revealed preference approaches
• Stated preference approaches

Learning Outcomes

• have an advanced knowledge and critical understanding of the contribution of economic analysis to the solution of complex environmental problems;
• have a critical appreciation of the role of free markets and/or government intervention to deal with complex environmental problems;
• have a good understanding of the theory of economic value as it relates to changes in environmental quality;
• Have a practical understanding of the practice of economic valuation of environmental goods;
• have a critical knowledge of, and be able to engage in advanced discussion of, current political strategies for the protection of the environment from an economic standpoint;
• have explored, understood and appreciated the complexity and contradictions of the current academic literature and its implications for professional practice, and be able to identify open questions for their own research.

• be able to solve complex optimisation problems algebraically, and make use of graphical analysis at an advanced level.

• Written Communication;
• Planning, Organising and Time Management;
• Problem Solving and Analysis;
• Using initiative;
• Numeracy;
• Computer Literacy.

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

• A combination of lectures, seminars and guided reading will contribute to achieving the aims and learning outcomes of this module. Summative assessment by written examination will test students knowledge and understanding of the subject-matter, their critical judgement and problem-solving skills.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment:

One formative assessment as an in-person seminar presentation.

■ Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University