Dr C Marchiori. Other teachers involved: Dr G Atkinson; B Groom; S Mourato; C Palmer.

This course is compulsory on the MSc in Environmental Economics and Climate Change. This course is available with permission as an outside option to students on other programmes where regulations permit.

Environmental and resource economics is at the forefront of the response to local, national and global environmental problems. As such, it has become an essential part of the thinking and actions of national and regional governments, as well as international agencies and organizations. This course seeks to develop a rigorous treatment of the theory of environmental and natural resource economics, and to show how formal economic thinking can assist real world policymaking in areas such as climate change, ecosystem & biodiversity conservation and water resource management.

The course consists of four components which cluster together the principal areas of interest and research in environmental and natural resource economics. These are: (i) foundations of environmental and resource economics; (ii) economics of pollution control; (iii) economics of renewable and non-renewable resources; and (iv) the study of international environmental problems and agreements.

15 hours of lectures and 9 hours of seminars in the MT. 15 hours of lectures and 10 hours of seminars in the LT.

Students will complete one written assignment of  2,500 words in Michaelmas Term, on which they will receive written feedback.

Detailed reading lists will be provided to support each course
component. The following texts will be particularly useful: Perman, R., Y. Ma,
J. McGilvray and M. Common, Natural Resource and Environmental Economics,
Pearson Addison Wesley, Fourth Edition (2011), and Third Edition (2003); Conrad,
J., Resource Economics, Cambridge: Cambridge University Press, (2005);
Kolstad, C., Environmental Economics, Oxford: Oxford University Press,
(2000).

Exam (75%, duration: 3 hours) in the main exam period.
Essay (25%, 3000 words).