Environmental Economics

Curriculum guideline

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Course
ECON 2460
Discontinued
No
Course code
ECON 2460
Descriptive
Environmental Economics
Department
Economics
Faculty
Commerce & Business Administration
Credits
3.00
Start date
End term
202030
PLAR
No
Semester length
15 Weeks X 4 Hours per Week = 60 Hours
Max class size
35
Contact hours
Lecture: 3 Hours Seminar: 1 Hour Total: 4 Hours
Method(s) of instruction
Lecture
Seminar
Learning activities

Lecture and seminar.

Course description
Industrial societies incur environmental damage, in part, because the full "cost" of economic activities are not reflected in the market prices that direct production. This course examines market failure and applies microeconomic principles to markets for environmental resources. Methods of measuring the damages that result from polluting activities, and the benefits of improving environmental quality, are examined. The economic principles of pollution control and case studies in Canadian and International environmental regulation are discussed.
Course content
  1. Review of microeconomic 'principles', as relevant to environmental issues.
  2. Introduction to environmental problems and issues.
  3. The static, dynamic and sustainability criterion for economic efficiency.
  4. The economics of property rights.
  5. Sources of market failure.
  6. Market failure and pollution.
  7. Economic 'instruments' and pollution control.
  8. Environmental Impact Assessments (EIAs) -- measuring the damages resulting from polluting activities and the benefits derived from improvements in environmental quality.
  9. Case studies -- economic analyses of different types of water and air pollution, disposal of waste, and recycling.
Learning outcomes

To provide students with an economics’ perspective on environmental issues.

At the end of the course, the student will be able to:

  1. apply economic principles to analyze specific environmental problems and issues;
  2. demonstrate an understanding of the static, dynamic and sustainability criterion for economic efficiency;
  3. identify the sources of 'market failure' (inefficiency) and the economic principles of pollution control;
  4. utilize various 'instruments' developed by economists to deal with environmental problems to evaluate alternative courses of action for policy makers;
  5. apply economic analyses to practical situations involving environmental regulation.
Means of assessment
Final Examination          30% - 40%
Term Test(s) 30% - 70%
Assignments   0% - 30%
Quizzes   0% - 20%
Participation   0% - 10%
Total         100%

THERE WILL BE A MINIMUM OF THREE (3) EVALUATIONS.

Textbook materials

Textbooks and Materials to be Purchased by Students

The main text is to be chosen from the following, as determined by the instructor:

  • Tietenberg, Tom.  Environmental and Natural Resource Economics, Latest Ed.  New York:  Harper Collins Publishers Inc. 

Supplementary materials may be chosen from the following, as determined by the instructor:

  • Barde, Jean-Phillipe and David W. Pearce.  Valueing the Environment:  Six Case Studies.
  • Doern, G. Bruce (editor).  Getting it Green, Case Studies in Canadian Environmental Regulation.  C.D. Howe Institute.
  • Pearce, David W. and Jeremy J. Warford.  World Without End:  Economics, Environment and Sustainable Development.
  • Pearce, David W. and R. Kerry Turner.  Economics of Natural Resources and The Environment.
  • Silverstein, Michael.  The Environmental Economic Revolution: How Business Will Thrive and the Earth Will Survive in Years to Come.  New York: Saint Martin’s Press, 1993.

Environment

Various published or unpublished articles pertaining to the course content.

Prerequisites

ECON 1150