Monash University Handbook 2010 Undergraduate - Unit

Synopsis

Application of microeconomic theory to environmental problems; the relationship between the economy and the environment; markets and governments as alternative signalling and incentive mechanisms; limitations of market and government coordination of natural resource use. Policy options for solid wastes and recycling, local and global pollution problems, protection of biodiversity, management of stocks of fish and other 'commons' resources. Valuation of unpriced environmental goods and cost-benefit analysis of environmental changes.

Objectives

The learning goals associated with this unit are to:

1. explain how the economy and the environment interact
2. understand the economic concepts of property rights, externalities and non-excludability, and how they are linked to environmental problems
3. appreciate that deficiencies in both market and government coordination of resource use contribute to environmental problems.

Assessment

Within semester assessment: 40%
Examination (2 hours): 60%

Chief examiner(s)

Lata Gangadharan

Contact hours

3 hours per week

Prerequisites

ECC1000 or equivalent