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ECO356 Environmental Economics (8)

Abstract

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.

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Continuing students should consult the SAL for current offering details prior to contacting their course coordinator: ECO356
Where differences exist between the handbook and the SAL, the SAL should be taken as containing the correct subject offering details.

Subject information

Duration Grading System School:
One sessionHD/FLSchool of Accounting and Finance

Assumed Knowledge

Assumed knowledge in this subject is equivalent to that covered in ECO110 and ECO120.

Learning Outcomes

Upon successful completion of this subject, students should:
Demonstrate an appreciation of the need for and knowledge of methods to derive public valuation of environmental goods;
Be able to design cost-benefit analyses to examine scenarios involving environmental goods;
Know the various methods for regulating the use of environmental goods and the advantages and disadvantages of each;
Be aware of the problems surrounding government regulation and market-based control of environmental goods; and
Have an awareness of the political, social and economic complexities in the management of air quality, water quality and usage, waste disposal and biodiversity.

Syllabus

The subject will cover the following topics:
Scarcity and Environmental Goods
Valuing the Environment: Hedonic Methods
Valuing the Environment: Survey Methods
Constructing Cost-Benefit Analyses
Using CBAs to Make Environmental Decisions
Control of Environmental Goods: Regulation versus Markets
Local and Global Air Pollution
Water Pollution
Waste Disposal
Biodiversity Management

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The information contained in the 2018 CSU Handbook was accurate at the date of publication: 24 November 2017. The University reserves the right to vary the information at any time without notice.