Last modified: 14 Oct 2025 14:16
This course explores the intricate relationship between the economy and the environment, focusing on how economic activities impact the environment, and how environmental policies can be developed to address environmental issues. Students will learn the fundamental principles of economics as they apply to environmental issues, integrating both theoretical concepts and practical applications to address contemporary environmental challenges.
| Study Type | Postgraduate | Level | 5 |
|---|---|---|---|
| Term | First Term | Credit Points | 15 credits (7.5 ECTS credits) |
| Campus | Aberdeen | Sustained Study | No |
| Co-ordinators |
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This course considers the fundamental concepts and some important aspects of the economics of the environment.
The principal aims of the course are
The course begins with an overview of fundamental concepts of microeconomics on which environmental economics is based, such as the economic behaviour of consumers and firms. It then delves into the core of environmental economics, examining how market failures, such as externalities and public goods, contribute to environmental degradation.
A significant portion of the course is dedicated to discussing various environmental policies and instruments for managing environmental issues, such as taxes, subsidies, tradable permits, and regulations. We compare these policies and instruments in terms of various criteria, including the cost-effectiveness and efficiency in achieving environmental goals, the impact on social equity, and incentives for technological change.
The course also covers different methods to value environmental externalities and amenities.
Information on contact teaching time is available from the course guide.
| Assessment Type | Summative | Weighting | 40 | |
|---|---|---|---|---|
| Assessment Weeks | Feedback Weeks | |||
| Feedback |
2,500-word essay Feedback will be provided with use of a rubric. |
Word Count | 2500 | |
| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Conceptual | Evaluate | Appreciate the strengths and weaknesses of the methods and models used in environmental economics in terms of assumptions and empirical evidence |
| Conceptual | Understand | Understand important methods and models of environmental economics |
| Factual | Apply | Become familiar with important examples where economic thinking is applied to environmental issues and policies |
| Assessment Type | Summative | Weighting | 60 | |
|---|---|---|---|---|
| Assessment Weeks | Feedback Weeks | |||
| Feedback |
2-hour exam Individual feedback will be provided on request. |
|||
| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Conceptual | Evaluate | Appreciate the strengths and weaknesses of the methods and models used in environmental economics in terms of assumptions and empirical evidence |
| Conceptual | Understand | Understand important methods and models of environmental economics |
| Factual | Apply | Become familiar with important examples where economic thinking is applied to environmental issues and policies |
There are no assessments for this course.
| Assessment Type | Summative | Weighting | 100 | |
|---|---|---|---|---|
| Assessment Weeks | Feedback Weeks | |||
| Feedback |
2-hour exam Individual feedback will be provided upon request. |
|||
| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
|
|
||
| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Conceptual | Understand | Understand important methods and models of environmental economics |
| Factual | Apply | Become familiar with important examples where economic thinking is applied to environmental issues and policies |
| Conceptual | Evaluate | Appreciate the strengths and weaknesses of the methods and models used in environmental economics in terms of assumptions and empirical evidence |
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