Course Modules - Economics of Environment and Resource Management

Module Leader

Aim

The environment, as a provider of natural resources and services, is a key determinant of the quality of human life. The concept of sustainable development recognises the importance of natural capital and ecosystem services as a basis for achieving enduring social and economic progress. In this context, the subject examines the management of natural resources and the environment, paying particular attention to the application of economic principles and related techniques to support decision making and policy in pursuit of sustainable development. Special focus is placed on the economics of land, water and ecological systems. The role of business, as a user and provider of environmental services, is also explored.

Syllabus

principles of environmental and natural resource management
economic principles, welfare economics and environmental economics
natural capital and the economics of eco-system functions
environmental accounting and valuation
economics of environmental policy
economic instruments for environmental policy
land resource economics and management
water resource economics
economics of marine resources
economics of development planning
cost benefit analysis for project appraisal
multi-criteria and risk analysis
selected topics in economics of environmental and resource management.

Intended Learning Outcomes

On successful completion of this module the student will be able to:

Understand the main principles, terminology and criteria for guiding resource management decisions in pursuit of sustainable development, with particular reference to welfare and environmental economics.
Appreciate the main policy issues in environmental and resource management, the role of economic analysis and the use of economic instruments.
Understand and apply the concepts of resource and environmental valuation and accounting, particularly regarding ecosystem services.
Understand and apply cost benefit analysis including, including environmental valuation.
Appreciate the importance of environmental management in a business context.