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  6. EC3025: ECONOMICS OF NATURAL RESOURCES AND THE ENVIRONMENT

EC3025: ECONOMICS OF NATURAL RESOURCES AND THE ENVIRONMENT (2016-2017)

Last modified: 28 Jun 2018 10:27


Course Overview

One important issue in environmental economics is the control of externalities, where one firm’s or one individual’s actions affect other people. The course addresses this topic focusing on pollution and climate change as key examples. A second topic involves the study of exhaustible resource markets, including issues such as the determinants of  the long run price of oil and the sustainable use of natural resources. Other issues related to energy and the management of common property resources such as fisheries  may also be discussed.

The course is intended  primarily  for honours undergraduates in Economics.

Course Details

Study Type Undergraduate Level 3
Term First Term Credit Points 30 credits (15 ECTS credits)
Campus None. Sustained Study No
Co-ordinators
  • Dr Kiso Takahiso

Qualification Prerequisites

None.

What courses & programmes must have been taken before this course?

  • Either EC2002 Microeconomics 2 (Passed) or EC2003 Intermediate Microeconomics (Passed)
  • Any Undergraduate Programme (Studied)

What other courses must be taken with this course?

None.

What courses cannot be taken with this course?

  • EC3018 Economics of Natural Resources (Studied)

Are there a limited number of places available?

No

Course Description

This course covers both environmental economics and the economics of natural resources.

One of the main topics in environmental economics is the regulation of externalities or spillovers where one firm's or one individual's actions affect other people. The course addresses this topic focusing on pollution and climate change as key examples. A second major topic in environmental economics is the valuation of environmental amenities such as clean air or outdoor recreation. The course studies some of the major methods used by economists to assign a value to such resources.

One of the main topics of natural resource economics is the management of common property resources. The course studies this topic using fisheries as an important example. Investment is a key issue for the study of exhaustible resources, which necessarily involve tradeoffs over time. Fossil fuel which is extracted today is not available tomorrow. The course studies how economists model some of these investment issues, which has implications for such policy questions as the determinants of the long run price of oil and the sustainable use of natural resources.

Further Information & Notes

This course started in 2012/13 and continues every two years thereafter.

Contact Teaching Time

Information on contact teaching time is available from the course guide.

Teaching Breakdown

More Information about Week Numbers


Details, including assessments, may be subject to change until 30 August 2024 for 1st term courses and 20 December 2024 for 2nd term courses.

Summative Assessments

1st Attempt: 1 three-hour examination (80%); continuous assessment (20%) consisting of a graded written essay (maximum 2500 words).

Resit: 1 three-hour written examination (100%).

Formative Assessment

This will take place via tutorial discussions and written feedback on the written assignment.

Feedback

Written feedback is given on the written assignment. On a less formal basis, verbal feedback is given during tutorial discussions.

Course Learning Outcomes

None.
 

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