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Economic theory and tools will be applied to the study of the environment and policy. In particular this course will examine how economists look for least cost ways of achieving environmental objectives even if those objectives are not set according to cost benefit analysis. This course will examine how market, incentive based regulatory mechanisms affect environmental outcomes and how the economy and the environment interact.
We live in a world where concern for the environment has never been greater. Everywhere you look you will see phrases such as “climate change,” “sustainability,” “zero waste,” or “resource use footprint.”The issue of how our economy should interact with the environment is a multi-disciplinary topic. But it is one to which economics has much to contribute. Economics cannot tell you how much the planet is warming or how much oil is left in the ground. But it can shed light on questions such as- Rather than just contributing to environmental problems, can markets be used to help solve them?- How can governments address environmental problems efficiently, both when they have a lot of information, and when they don’t?- How much pollution is too much in economic terms?- Why has the international response to reducing greenhouse gas emissions been so limited, when scientists are confident there is a major problem?- Does globalisation and international trade help or harm the environment?This course will make use of and build on the tools seen in ECON104 (Microeconomics) and to a lesser extent ECON105 (Macroeconomics). In general, we will examine how economists look for least-cost ways of achieving environmental objectives. The objectives themselves may be set according to cost benefit analysis, or other criteria.
The objectives of the course are that by its end, students will be able to demonstrate:- An understanding of how market, incentive based and regulatory mechanisms affect environmental outcomes;- How marginal analysis is applied to environmental issues;- How cost benefit analysis can be extended to value unpriced environmental amenities;- Current economic contributions to the climate change challenge;- An understanding of the interaction between international trade and the environment.
ECON104
Students must attend one activity from each section.
Jeremy Clark
The ‘45% rule’ does not apply to this course. That is, students do not need to reach 45% weighted average across invigilated assessments. Please refer to https://learn.canterbury.ac.nz/course/view.php?id=7744 for further information.The ECON225 midterm test will take place at the end of Term 1 during the tutorial time slot in the regular meeting room, James Logie 104. Make sure you can attend.Special Considerations UC has a process which allows students to apply for Special Consideration for poor performance in an assessment or a missed assessment due to unforeseen circumstances at the time of the assessment.Special Consideration is not an extension. If you want an extension for an assignment or essay, contact your Course Coordinator.Guidelines for the Use of AI in CourseworkThe use of AI may or may not be permitted in courses. Within a course, permission may vary by assignment. It is the responsibility of the student to inform themselves about assessment conditions and submit work that is their own and that properly acknowledges the work of other people and tools, including generative artificial intelligence tools. It is important to familiarise yourself with the UC Misconduct Procedure Guide for Students. Examples of academic misconduct include, but are not limited to:“Where a student uses a generative artificial intelligence (AI) tool for an assessment in a manner that is not expressly permitted or fails to acknowledge the use of a generative AI tool as instructed.”I recommend against students using AI for Assignments 1-4, as they need to master the skills themselves of being able to create graphical and mathematical solutions to problems that will then be assessed on the (pen and paper) test and exam. Students must also always show their intermediate steps to receive full credit. Nonetheless, students may choose to use AI (as long as they acknowledge it). The following UC condition thus applies to ECON225 Assignments 1,2, 3 and 4: In this assessment, you are permitted to use generative artificial intelligence (AI) to assist you in any way within the bounds of academic integrity. You must appropriately acknowledge any use of generative AI in your work. Please include a [statement of acknowledgement/AI declaration] within your work, clearly indicating which AI tools were used and how they contribute to your assessment. Assessment in Te Reo MāoriIn recognising that Te Reo Māori is an official language of New Zealand, the University provides for students who may wish to use Te Reo Māori in their assessment. If you intend to submit your work in Te Reo Māori you are required to do the following:Read the Assessment in Te Reo Māori Policy and ensure that you meet the conditions set out in the policy. This includes, but is not limited to, informing the Course Coordinator 1) no later than 10 working days after the commencement of the course that you wish to use Te Reo Māori and 2) at least 15 working days before each assessment due date that you wish to use Te Reo Māori.
Hanley, N. H., Shogren, J. F., & White, B; Introduction to Environmental Economics ; 3rd; Oxford University Press, 2019.
Domestic fee $1,003.00
International fee $4,538.00
* All fees are inclusive of NZ GST or any equivalent overseas tax, and do not include any programme level discount or additional course-related expenses.
For further information see Department of Economics and Finance .