Environmental Economics

Learning Outcomes of the Course Unit

1) explain the economic theory that is used to analyse natural resource economic problems, and be able to apply this theory.
2) explain and apply cost-benefit analysis (CBA).
3) Apply fundamental concepts, such as market failure, household behaviour, transaction costs and willingness to pay to the study of environmental economics
4) Understand key concepts used by environmental economists, (as well as political scientists) such as public goods (and “bads”), use and non-use value, the tragedy of the commons, irreversibility and the precautionary principle
5) Approach environmental problems from an analytical perspective
6) Use economic arguments to discuss environmental policy proposals
7) Understand the interdisciplinary nature of environmental economics