The course will examine key topics in environmental economics with a focus upon the following questions:

(1) What is efficient and sustainable use of the environment?

(2) What prevents us from sustainably managing the environment?

(3) What approaches can we use to improve environmental management?

The course is structured around seven broad areas or themes that include the dynamics of the environment, property rights, economics of pollution control, renewable resources, non-renewable resources and scarcity, introduction to environmental valuation, and the global environment.

As much as possible, attention will be given to the modelling of environmental problems, especially in the tutorials and assignments. After completing the course, students should have an understanding of the fundamental theory and tools of analysis of environmental economics and be able to model problems in environmental economics.

Tutorials 10%, term paper 40%, final examination 50%