ECO356 Environmental Economics (8)
Prerequisite: ECO110 and ECO120
This subject uses economic tools to discuss current environmental issues in Australia. Methods are developed to calculate the public's valuation of environmental goods, such as clean air, clean water or public parks. Using environmental values, cost-benefit analyses are used to analyse social decision-making about environmental goods. Economic concepts are used to analyse public policies with regard to the management of environmental resources, using both regulatory and market-based schemes. The subject examines pollution control methods for controlling local air quality, for controlling greenhouse gas emissions, for management of water resources, for waste disposal and for protection of biodiversity.