Unit convenor and teaching staff |
Unit convenor and teaching staff
Instructor
Ram Ranjan
Contact via by email
office #517, 12 Wally's Walk (E7A)
By appointment
Imogen da Silva
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Credit points |
Credit points
3
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Prerequisites |
Prerequisites
18cp at 100 level or above
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Corequisites |
Corequisites
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Co-badged status |
Co-badged status
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Unit description |
Unit description
This unit is designed to provide students with an introductory exposure to environmental economics. In addition to dwelling on the key concepts, tools and methods used in environmental economics, the unit provides an understanding as to why it is crucial to incorporate the environment as a factor of production in our economy, what the key challenges are in doing so and how effective the available policy instruments are. Several topics such as the economics of climate change, economics of land use development and urban planning, and sustainable development will be covered in order to highlight the role environmental economics plays in addressing contemporary societal challenges. The emphasis of this unit is also on helping students develop a set of basic analytical and mathematical tools that could be used to assess and derive practical policy recommendations. The unit builds on several real case studies that provide students with a hands-on introduction to basic cost-benefit analysis (using Excel) involving future discounting and uncertainty.
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Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
On successful completion of this unit, you will be able to:
Assignment 1 is quantitative in nature.
Assignment 2, which is qualitative, must be completed in small groups.
Mid-term and final exams are closed book exams and need to be taken during the scheduled weeks (unless exceptions have been permitted).
Name | Weighting | Hurdle | Due |
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Assignment 1 | 15% | No | March 23 |
Mid-Term Exam | 40% | No | April 13 |
Assignment 2 | 15% | No | June 01 |
Final Exam | 30% | No | June 08 |
Due: March 23
Weighting: 15%
The first assignment involves cost-benefit/wtp analysis (15 marks out of 100)--This assignment is usually given after the second lecture, when students become familiar with CBA and willingness to pay (wtp) techniques.
A hard copy of the assignment needs to be submitted in class on the due date. An electronic copy detailing all calculations, must be submitted by email by the due date.
Due: April 13
Weighting: 40%
Exam topics cover course material up to lectures 1-5.
This is a closed book exam. Maximum time allowed will be 100 minutes.
Due: June 01
Weighting: 15%
The second assignment has two parts: first part-- project report preparation (10 marks out of 100) and second part-- presentation (5 marks out of 100)--This assignment is handed out in the post-mid term session and students normally have 3-4 weeks to work on the report.
A hard copy of the project report will be due in class (an electronic copy must be submitted through turnitin as well).
The report must not exceed 2 pages in length (single spaced and 12 font size). References will not count towards the page limit.
Presentations are due in class.
Due: June 08
Weighting: 30%
Mostly covers post-mid term course materials. It may include one or two topics from the pre-mid term (this will be advised on iLearn).
This is a closed book exam, maximum time allowed will be 100 minutes.
Reading materials including lecture notes are provided on iLearn. Handouts are provided during the lectures.
Technology used: iLearn, computers for performing excel examples, MS office software, etc
Refer to MQ timetable for teaching dates and lecture location.
Students may find the below books (available in the MQ library) useful for an introduction to environmental economics--
Environmental Economics: An Introduction by Barry C. Field and Martha K. Field, Mc Graw Hill Education Publication
However, this is NOT a required reading.
Also refer to:
Environmental and Natural Resource Economics, 10/e, by T. Titenberg and L. Lewis, Pearson Global Edition
(This is tentative list of topics, and some topics may receive more attention compared to others)
Topic 1---Introduction to basic microeconomics, cost-benefit analysis, sustainability (weak versus strong) and willingness to pay idea.
Green Accounting: The case for counting environmental degradation as capital depreciation
Case Study: Are we being served, Economist article
Topic 2---Environmental Challenges: market failure, externalities, property rights, Coase bargaining
Case Study: Paul Krugman: California Death Spiral
Topic 3---Valuing the Environment, CBA, value of water, payment for ecosystem services
Case Study: Valuing Biodiversity By Partha Dasgupta
Topic 4---Industry production and pollution abatement costs; Health impacts of industrial/environmental pollution, Environmental Kuznets Curve, ecological resilience and hysteresis
Case Study: The Economics of Pollution Control, by Daniel Phaneuf
Topic 5---Policy Instruments for Managing Renewable and Non-Renewable Resources: Taxes/Quotas, subsidies and regulations: controlling point and non-point sources of pollution. Economics of managing fisheries/oil/coal/forests
Case Study TBA
Topic 6---Economics of Climate Change: Environmental damages and cost benefit accounting.
Case Study TBA
Understanding and managing catastrophic possibilities: Risks: objective versus subjective risks and mitigation versus adaptation tradeoff.
Case Study TBA
Topic 7---Urban Growth and the Environment: The political economy of urbanization, role of property taxes, environmental impacts of urbanization
Case Study TBA
Topic 8--Economics of Transport/Infrastructure: Sustainable options, renewable and non-renewable fuels, fuel efficiency and Rebound effect
Case Study TBA
Topic 9---Economics of Land use Planning: Urban sprawl, land use and water scarcity—agriculture versus urbanization
urbanization, energy dependence and health impacts of urban sprawl
Case Study TBA
Macquarie University policies and procedures are accessible from Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policy-central). Students should be aware of the following policies in particular with regard to Learning and Teaching:
Undergraduate students seeking more policy resources can visit the Student Policy Gateway (https://students.mq.edu.au/support/study/student-policy-gateway). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.
If you would like to see all the policies relevant to Learning and Teaching visit Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policy-central).
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/study/getting-started/student-conduct
Results shown in iLearn, or released directly by your Unit Convenor, are not confirmed as they are subject to final approval by the University. Once approved, final results will be sent to your student email address and will be made available in eStudent. For more information visit ask.mq.edu.au.
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to improve your marks and take control of your study.
Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.
For all student enquiries, visit Student Connect at ask.mq.edu.au
For help with University computer systems and technology, visit http://www.mq.edu.au/about_us/offices_and_units/information_technology/help/.
When using the University's IT, you must adhere to the Acceptable Use of IT Resources Policy. The policy applies to all who connect to the MQ network including students.
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