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EC3530: ECONOMICS OF NATURAL RESOURCES AND THE ENVIRONMENT (2018-2019)

Last modified: 22 May 2019 17:07


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
Session Second Sub Session Credit Points 30 credits (15 ECTS credits)
Campus None. Sustained Study No
Co-ordinators
  • Dr Kiso Takahiso

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

What other courses must be taken with this course?

None.

What courses cannot be taken with this course?

None.

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.


In light of Covid-19 this information is indicative and may be subject to change.

Contact Teaching Time

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

Teaching Breakdown

  • 2 Lectures during University weeks 25 - 35
  • 1 Tutorial during University weeks 25 - 35

More Information about Week Numbers


In light of Covid-19 and the move to blended learning delivery the assessment information advertised for second half-session courses may be subject to change. All updates for second-half session courses will be actioned in advance of the second half-session teaching starting. Please check back regularly for updates.

Summative Assessments

1st Attempt:

Graded written essay max 2500 words (20%)

 

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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