Coming soon
ENVIRONMENTAL ECONOMICS
1. To examine the applications of economic concepts in the sphere of environmental economics
2. To help students understand the environmental problems and their solution
3. To analyse the benefits and costs of environmental issues
4. To gain knowledge of efforts related to environmental problems and policies framed at national and international level.
Key environmental issues and problems, economic way of thinking about these problems, materials balance model; Pareto optimality and market failure in the presence of externalities and public good; property rights and the Coasian Approach: bargain Solution.
Conventional solution to environmental problems: command and control approach, Economic solution to environmental problems: pollution charges, Pigouvian tax; environmental subsidies, deposit/refund system; pollution permit trading systems.
Valuing environmental benefits: total value of environmental quality-user vale and existence value; direct estimation method-contingent valuation method; indirect estimation method- averting expenditure method, travel cost method, hedonic price methods.
Valuing environmental costs:Incrementalcosts,explicitcosts,capitalcosts,operating costs, implicit costs, social costs, costs estimation.
Cost-benefit analysis in environmental decision making.
Sustainable development, environmental Kuznets curve, international agreements to control transboundary pollution, industrial ecology, pollution prevention, disseminating information and technology at global scale for environmental protection.
Callan, S. J., and Thomas, J. M. (2012). Environmental Economics & Management: Theory, Policy, and Applications (6thed.). South-Western College Publishing.
1. Eugine. T. (2005). Environmental economics (1sted.). Vrinda Publications (P) Ltd.
2. Bhattacharya, R. N. (2002). Environmental Economics- An Indian Perspective . Oxford University Press.
