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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
On successful completion of this subject, students should be able to:
- 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
- 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: 17 February 2020