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Unit of study_

ECOS3013: Environmental Economics

The natural environment is invariably affected by production and consumption in our modern economy. In particular, environmental outcomes are important in the presence of market failures (externalities and public goods). This unit focuses on developing a student's detailed understanding of the economic techniques used by policymakers to address environmental issues. These techniques include: Pigovian taxes and subsidies; regulation with asymmetric information; marketable permits; pricing contributions for public goods; optimal damages; and the allocation of property-rights and market failures.

Code ECOS3013
Academic unit Economics
Credit points 6
Prerequisites:
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AREC2005 or AREC2003 or RSEC2031 or ECOS2001 or ECOS2901
Corequisites:
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None
Prohibitions:
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None

At the completion of this unit, you should be able to:

  • LO1. present a clear and coherent exposition of economic knowledge, ideas and empirical evidence both orally and in writing, in the context of environmental economics
  • LO2. frame problems in terms of core economic concepts and principles, and to apply economic reasoning and analytical skills, in order to make informed judgements and decisions
  • LO3. access data and implement appropriate empirical techniques to interpret the results
  • LO4. explain the nature and implications of assumptions and value judgements in economics.