RESOURCE AND ENVIRONMENTAL ECONOMICS

Students undertaking this course will be introduced to concepts and applications of environmental and resource economics. Areas to be covered include: What is environmental economics, Ecological economics, Why study environmental economics, A look at Environment and economy interactions Concepts of Efficiency and Optimality. Conditions necessary for resources to be allocated efficiently, Definition of pollution, pollution as an externality, Reasons for regulating pollution. Importance of valuing the environment, The fundamentals of valuation: Missing markets and market creation.                                                                                                                                                                                                                                                                                                              objectives: 

• Define and describe  key  resource and environmental economics  concepts,  ideas and terminologies
• Describe basic tools and techniques used by  environmental economists
• Enhance their  ability to  think  economically about  resource and environment problems