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ECON1051: THE ECONOMICS OF SUSTAINABILITY

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Type	Open
Level	1
Credits	20
Availability	Available in 2023/24
Module Cap
Location	Durham
Department	Economics

Prerequisites

A Level Mathematics minimum grade A

Corequisites

Principles of Economics (ECON1011) OR Introduction to Financial Economics (FINN1101)

Excluded Combinations of Modules

None.

Aims

To facilitate students' understanding of evolving approaches to how economists analyse environmental issues as well as contribute to decision-making about the environment and intergenerational equity. Students will be made aware of the limitations of economic approaches in the real world.

Content

A range of material is covered at an introductory level with emphasis on topics such as:
Economics of sustainability: intergenerational equity, discount rates, interdisciplinary approaches to environmental issues
Growth and the Environment: limits to economic growth and technology.
Green accounting and environmental indicators.
Welfare economics.
Environmental valuation.
Analytical tools - e.g. cost-benefit analysis, cost effectiveness and alternatives.
Economic efficiency and markets, market failure, externalities.
Instruments of pollution control policy: environmental standards, taxes, tradable permits.
Criteria for evaluating environmental policies.
Resource economics: renewable and non-renewable.
Energy economics.
Global environmental problems: Climate change, biodiversity loss, land use, world fisheries, urban-rural tensions.
Topics in the economics of sustainability and policy solutions.

Learning Outcomes

Subject-specific Knowledge:

Understand how Economics can help to assess and solve environmental problems
Be able to formulate environmental policy recommendations

Subject-specific Skills:

How to use economic tools and mathematical and graphical analysis for the solution of environmental problems

Key Skills:

Written Communication - e.g. through summative assessment.
Initiative e.g. by searching relevant literature and information in preparation for assessed work

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

Teaching is by lectures and seminars. Learning takes place through attendance at lectures, preparation for and participation in seminar classes, and private study.
Summative assessment is by means of a written examination to test students' knowledge and understanding of the subject matter. A formative assignment will also help prepare for the online exam.

Teaching Methods and Learning Hours

Activity	Number	Frequency	Duration	Total	Monitored
Lectures	20	1 per week	2 hour	40
Revision Lecture	1	1 in Term 3	2 hour	2
Seminars	7	2 in Term 1, 5 in Term 2	1 hour	7	Yes
Preparation and Reading				151
Total				200

Summative Assessment

Component: Examination		Component Weighting: 100%
Element	Length / Duration	Element Weighting	Resit Opportunity
One written online examination	2 hours, 3000 words max.	100	Same

Formative Assessment

One written piece of work to prepare students for the summative exam.

More information

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