Department of Economics & International Development, Unit Catalogue 2007/08 |
EC50126 Environmental regulation |
| Credits: 6 |
| Level: Masters |
| Semester: 1 |
| Assessment: EX 100% |
| Requisites: |
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Aims: To provide a rigorous account of the modern economic analysis of the economics of policy-design.
Learning Outcomes: Students should: * Understand why environmental problems arise * Understand how relaxing assumptions regarding the nature of pollutants affects policy design * be able to critically appraise the procedures which economists use in the design and implementation of environmental policy instruments; * have sufficient skills to begin to design a policy instrument. Skills: Ability to develop rigorous arguments through precise use of concepts and mathematical models (Taught/Facilitated/Assessed) Ability to select, summarise and synthesis written information from multiple sources (T/F/A) Ability to select and use appropriate ideas to produce a coherent response to a pre-set question (T/F/A) Comprehensive and scholarly written communication (T/F/A) Concise and effective written communication (e.g. briefings / written exams) (T/F/A) Effective oral communication (e.g. lecture question and answer) (F) Ability to apply theory to policy areas (T/F/A). Content: The economy-environment interaction. Market failure and externalities. Introduction to instruments for environmental management: the role for economic instruments. The international dimension. Unobservability of emissions and how to allow for it in policy design. Designing efficient instruments for more complex types of pollutant. Case studies will be introduced where appropriate. Brief overview of the valuation of environmental goods and how policy decision are affected by the consideration of uncertainty. |