Undergraduate Programme and Module Handbook 2023-2024 (archived)
Module ECON1051: THE ECONOMICS OF SUSTAINABILITY
Department: Economics
ECON1051: THE ECONOMICS OF SUSTAINABILITY
| Type | Open | Level | 1 | Credits | 20 | Availability | Available in 2023/24 | Module Cap | Location | Durham |
|---|
Prerequisites
- A Level Mathematics minimum grade A
Corequisites
- Principles of Economics (ECON1011) OR Introduction to Financial Economics (FINN1101)
Excluded Combination of Modules
- None.
Aims
- To facilitate students' understanding of evolving approaches to how economists analyse environmental issues as well as contribute to decision-making about the environment and intergenerational equity. Students will be made aware of the limitations of economic approaches in the real world.
Content
- A range of material is covered at an introductory level with emphasis on topics such as:
- Economics of sustainability: intergenerational equity, discount rates, interdisciplinary approaches to environmental issues
- Growth and the Environment: limits to economic growth and technology.
- Green accounting and environmental indicators.
- Welfare economics.
- Environmental valuation.
- Analytical tools - e.g. cost-benefit analysis, cost effectiveness and alternatives.
- Economic efficiency and markets, market failure, externalities.
- Instruments of pollution control policy: environmental standards, taxes, tradable permits.
- Criteria for evaluating environmental policies.
- Resource economics: renewable and non-renewable.
- Energy economics.
- Global environmental problems: Climate change, biodiversity loss, land use, world fisheries, urban-rural tensions.
- Topics in the economics of sustainability and policy solutions.
Learning Outcomes
Subject-specific Knowledge:
- Understand how Economics can help to assess and solve environmental problems
- Be able to formulate environmental policy recommendations
Subject-specific Skills:
- How to use economic tools and mathematical and graphical analysis for the solution of environmental problems
Key Skills:
- Written Communication - e.g. through summative assessment.
- Initiative e.g. by searching relevant literature and information in preparation for assessed work
Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module
- Teaching is by lectures and seminars. Learning takes place through attendance at lectures, preparation for and participation in seminar classes, and private study.
- Summative assessment is by means of a written examination to test students' knowledge and understanding of the subject matter. A formative assignment will also help prepare for the online exam.
Teaching Methods and Learning Hours
| Activity | Number | Frequency | Duration | Total/Hours | |
|---|---|---|---|---|---|
| Lectures | 20 | 1 per week | 2 hour | 40 | |
| Revision Lecture | 1 | 1 in Term 3 | 2 hour | 2 | |
| Seminars | 7 | 2 in Term 1, 5 in Term 2 | 1 hour | 7 | ■ |
| Preparation and Reading | 151 | ||||
| Total | 200 |
Summative Assessment
| Component: Examination | Component Weighting: 100% | ||
|---|---|---|---|
| Element | Length / duration | Element Weighting | Resit Opportunity |
| One written online examination | 2 hours, 3000 words max. | 100% | Same |
Formative Assessment:
One written piece of work to prepare students for the summative exam.
■ 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