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This course is designed to enable students to understand the linkages between economic activities and the environment. This course aims at equipping students with economic methods and tools to analyze basic environmental issues while strengthening group work skills. This course combines theoretical analysis with discussions on specific environmental policies as applied to water, air pollution, energy, climate change and human health issues.
Economy and the Environment. Environmental Problems and Policy Solutions. Social Choice. Social Choice Mechanisms. Social Welfare Functions. Efficiency and Markets. Market Failure. Public Goods and Bads. The Microeconomic Analysis of Environmental Regulation. The Problem of Social Cost. Policy Instrument Choice. Enforcement of regulations. Estimating Benefits Of Environmental Improvements. Risk and Uncertainty.
Upon succesful completion of this course, a student will be able to
1. Evaluate the role of economic theory and principles in sustainable resource management.
2. Identify and evaluate environmental and resource issues from an economic perspective.
3. Apply the principles and concepts of economic theory to resolving environmental and resource issues.
4. Identify, formulate, evaluate and discuss policies and programmes for resource and environmental management and resolution of conflicts.
5. Demonstrate understanding of verbal, graphical, mathematical and econometric representation of economic ideas and analysis, including the relationship between them.
6. Communicate effectively and clearly in written and oral formats.