Course Description
Industrial societies incur environmental damage, in part, because the full "cost" of economic activities are not reflected in the market prices that direct production. This course examines market failure and applies microeconomic principles to markets for environmental resources. Methods of measuring the damages that result from polluting activities, and the benefits of improving environmental quality, are examined. The economic principles of pollution control and case studies in Canadian and International environmental regulation are discussed.
Means of Assessment
| Final Examination |
30% - 40% |
| Term Test(s) |
30% - 70% |
| Assignments |
0% - 30% |
| Quizzes |
0% - 20% |
| Participation |
0% - 10% |
| Total |
100% |
THERE WILL BE A MINIMUM OF THREE (3) EVALUATIONS.
Students may conduct research as part of their coursework in this class. Instructors for the course are responsible for ensuring that student research projects comply with College policies on ethical conduct for research involving humans, which can require obtaining Informed Consent from participants and getting the approval of the Douglas College Research Ethics Board prior to conducting the research.
Learning Outcomes
To provide students with an economics’ perspective on environmental issues.
At the end of the course, the student will be able to:
- apply economic principles to analyze specific environmental problems and issues;
- demonstrate an understanding of the static, dynamic and sustainability criterion for economic efficiency;
- identify the sources of 'market failure' (inefficiency) and the economic principles of pollution control;
- utilize various 'instruments' developed by economists to deal with environmental problems to evaluate alternative courses of action for policy makers;
- apply economic analyses to practical situations involving environmental regulation.
Textbook Materials
Textbooks and Materials to be Purchased by Students
The main text is to be chosen from the following, as determined by the instructor:
- Tietenberg, Tom. Environmental and Natural Resource Economics, Latest Ed. New York: Harper Collins Publishers Inc.
Supplementary materials may be chosen from the following, as determined by the instructor:
- Barde, Jean-Phillipe and David W. Pearce. Valueing the Environment: Six Case Studies.
- Doern, G. Bruce (editor). Getting it Green, Case Studies in Canadian Environmental Regulation. C.D. Howe Institute.
- Pearce, David W. and Jeremy J. Warford. World Without End: Economics, Environment and Sustainable Development.
- Pearce, David W. and R. Kerry Turner. Economics of Natural Resources and The Environment.
- Silverstein, Michael. The Environmental Economic Revolution: How Business Will Thrive and the Earth Will Survive in Years to Come. New York: Saint Martin’s Press, 1993.
Environment
Various published or unpublished articles pertaining to the course content.