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  3. Environmental Economics

Environmental Economics (ECON30011)

Undergraduate level 3Points: 12.5On Campus (Parkville)

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Year of offer2019
Subject levelUndergraduate Level 3
Subject codeECON30011
Semester 2
FeesSubject EFTSL, Level, Discipline & Census Date

Environmental issues will be addressed with the aid of economic theory. Topics include sustainability of economies; pollution as an externality; approaches to dealing with pollution in different countries; methods of valuing the environment and environmental damage; effect on future generations; environmental amenity as a public good; and the environment and economic development.

Intended learning outcomes

  • Explain the externality and public good reasons for market failure and their relationship to environmental problems
  • Explain the difference between command and control methods and methods that use economic incentives;
  • Critically evaluate the different regulatory approaches for dealing with environmental problems
  • Describe the importance of putting monetary values on environmental resources
  • Evaluate the methods of valuing the environment and the importance of environmental accounting
  • Explain the inter-linkage between population growth, poverty and environmental degradation;
  • Apply the theories discussed in class to empirical evidence;
  • Critically analyse the alternative policy proposals for reducing environmental degradation.

Generic skills

  • High level of development: oral communication; written communication; application of theory to practice; critical thinking; synthesis of data and other information; evaluation of data and other information.

  • Moderate level of development: collaborative learning; problem solving; team work; statistical reasoning; interpretation and analysis; accessing data and other information from a range of sources; receptiveness to alternative ideas.

  • Some level of development: use of computer software.

Last updated: 11 October 2019