Coming soon
Environmental Economics
- To explain the various methods of environmental valuation.
- To acquaint the students with the meaning, rules and indicators of sustainable development.
- To describe the issues relating to environmental protection, pollution control, climate change and global warming.
Course Outcomes (COs):
|
Course Code |
Course Title |
Learning outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
|
25DECO 601B |
Environmental Economics (Theory) |
Students will: CO49:comprehend the various aspects of environment and analyze environmental valuation CO50:analyzemarket failure, externalities and public goods CO51: comprehend various approaches of sustainable development CO52: analyze the issues related to environmental protection CO53: examine the different aspects of climate change and global warming CO54:contribute effectively in course-specific interaction |
Approach in teaching: Interactive Lectures, Discussion, Case studies
Learning activities for the students: Presentations, Assignments and Group discussions |
Class activity, Assignments and Semester end examinations |
- Environmental Economics: Definition & Scope,
- Environment- Economy Interaction,
- Development & Environment,
- Environmental Kuznets Curve,
- Need for environmental valuation, Use Value and Non Use Value,
- Methods of environmental valuation: Contingent Valuation method, Hedonic Pricing Approach, Travel Cost Method, Difficulties in measuring environmental value
- Market Failure: Meaning,
- Pareto Optimality and Market Failure,
- Externalities: Meaning, Positive and Negative Externalities in production and consumption
- Public Goods: Meaning and Characteristics,
- Public Goods and Pareto Efficiency
- Asymmetric information and market failure
- Sustainable Development –Meaning,
- Rules -Hartwick Approach, London School Approach, Safe Minimum Approach, and Daly’s Operational Principles.
- Indicators of Sustainable Development -Pressure Indicators, Impact Indicators and Sustainable Indicators
- Weak Sustainability and Strong Sustainability
- Conservation of Resources- Preservation & Conservation,
- Methods of Conservation-Material Conservation, Product Life Extension, Recycling, Pollution Tax, Waste Reduction,
- Policy Instruments for Environmental Protection: The Polluter Pays Principle (PPP), The User Pays Principle (UPP) & The Precautionary Principle (PP),
- Policy Measures to Control Environmental Pollution: Command and Control Approach, Pigouvian Tax, Environmental Subsidy, Tradable Permits, Deposit Refund System, Participatory and Voluntary Agreements, Property Rights &Coase’s Theorem, Bargain Solution.
- Effects of climate change - Impact of Green House Effect, Acid Rain, Ozone Layer Depletion,
- Global Level Efforts: Montreal Protocol, Convention on Climate Change (1992 & 1995), GEF, Kyoto Protocol (1997),
- International Policy Instruments to Tackle Environmental Externalities: International Carbon Tax, Tradable Quotas & Tradable Pollution Permits
Callan, S. J., and Thomas, J. M.,Environmental Economics & Management: Theory, Policy, and Applications, South-Western College Publishing, 6th Edition, 2012.
Suggested Readings:
- Eugine. T., Environmental economics, Vrinda Publications (P) Ltd., 1st Edition, 2005
- Bhattacharya, R. N., Environmental Economics- An Indian Perspective, Oxford University Press, 2002
E- Resources:
1. https://epgp.inflibnet.ac.in/Home/ViewSubject?catid=NEp/xikgBgNtfa+sgFQAc
2. https://www.epa.gov/environmental-economics
Journals:
1. Journal of Environmental Economics and Management(JEEM)
https://www,journals.elsevier.com/journal-of-environmental-economics-and-management
2. Environmental and Resource Economics(ERE)
https:/www.springer.com/journal/10640
