Environmental Economics and Policy (ECON20004)

Undergraduate level 2Points: 12.5On Campus (Parkville)

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Overview

Availability
Semester 1
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This subject applies economic theory to environmental issues. Topics include the theories of externalities and public goods applied to pollution and environmental policy; trade-offs between environmental goals and growth; how to value environmental amenities and environmental damage; marketing of environmentally-friendly products; life-cycle costs and recycling; the relative costs and benefits of environmental standards, bans, subsidies, pollution taxes and cap-and-trade systems; valuing the benefits provided by renewable energy; and remediation and clean-up. By the end of the course, students will be equipped with the analytical tools necessary to evaluate a broad range of environmental policies.

Intended learning outcomes

On successful completion of this subject, students should be able to:

  • Use economic techniques to analyse environmental problems and assess environmental policies;
  • Explain the externality and public good reasons for market failure and their relationship to environmental problems;
  • Describe and evaluate different methods for assigning monetary values to environmental amenities;
  • Critically evaluate different regulatory approaches for dealing with environmental problems;
  • Explain the differences between command-and-control methods and methods that use economic incentives to reduce pollution;
  • Explain the linkages between population growth, poverty, and environmental degradation;
  • Apply the theories discussed in class to empirical evidence.

Generic skills

On successful completion of this subject, students should have improved the following generic skills:

  • High level of development: oral communication; written communication; collaborative learning; problem solving; team work; application of theory to practice; critical thinking; evaluation of data and other information.
  • Moderate level of development: interpretation and analysis; synthesis of data and other information; accessing data and other information from a range of sources; receptiveness to alternative ideas.
  • Some level of development: statistical reasoning; use of computer software.

Last updated: 20 March 2025

Eligibility and requirements

Prerequisites

Code Name Teaching period Credit Points
ECON10004 Introductory Microeconomics
Semester 2 (On Campus - Parkville)
Semester 1 (On Campus - Parkville)
Summer Term (On Campus - Parkville)
 12.5

Corequisites

None

Non-allowed subjects

Students who complete this subject cannot also gain credit for

Code Name Teaching period Credit Points
ECON30011 Economics of Energy & Transport Systems
Not available in 2025
 12.5

Recommended background knowledge

Please refer to Prerequisites and Corequisites.

Inherent requirements (core participation requirements)

The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.

Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home

Last updated: 20 March 2025

Assessment

DescriptionTimingPercentage

Online Test

  • 60 minutes
Week 520%

Online Test

  • 60 minutes
Week 920%

Tutorial attendance and participation

Throughout the semester10%

End-of-semester examination

  • 2 hours
Hurdle requirement: To pass this subject students must pass the end-of-semester examination.		During the examination period50%

Last updated: 20 March 2025

Dates & times

  • Semester 1
    Principal coordinatorLeslie Martin
    Mode of deliveryOn Campus (Parkville)
    Contact hoursTwo 1.5-hour lectures and one 1-hour tutorial per week
    Total time commitment170 hours
    Teaching period 3 March 2025 to 1 June 2025
    Last self-enrol date14 March 2025
    Census date31 March 2025
    Last date to withdraw without fail 9 May 2025
    Assessment period ends27 June 2025

    Semester 1 contact information

    Leslie Martin: leslie.martin@unimelb.edu.au

     

Time commitment details

170 Hours

What do these dates mean

Visit this webpage to find out about these key dates, including how they impact on:

  • Your tuition fees, academic transcript and statements.
  • And for Commonwealth Supported students, your:
       -  Student Learning Entitlement. This applies to all students enrolled in a Commonwealth Supported Place (CSP).
     

    Subjects withdrawn after the census date (including up to the ‘last day to withdraw without fail’) count toward the Student Learning Entitlement.

Last updated: 20 March 2025

Further information

Last updated: 20 March 2025