This module is not currently running in 2024 to 2025.
This module applies various aspects of environmental economic theory in combination with mathematical and statistical methods to provide students with an understanding of the link between economic theory and policy application. It introduces students to fundamental key skills used by environmental economists in the application of economics to real world environmental issues.
The main focus will be on how economic theory is applied to real world environmental issues and how this can be demonstrated using EXCEL. Therefore, it continues the development of students' use of information technology within a structured environment. This module will provide students with an enhanced understanding of how economic theory can be translated into practical policy advice.
The module introduces students to a variety of environmental economic practical issues. Alongside formal lectures, computer workshops and seminars are designed to develop academic research skills and the ability to communicate ideas both verbally and in writing.
Examples of topics the module may cover include:
• Pollution control instruments – will consider taxes and permits using market simulation and potentially the development of equilibrium displacement models;
• Non-market evaluation – will consider stated and revealed preference approaches to non-market valuation, consider experimental design, survey design and delivery and data analysis using linear regression and binary choice models;
• Renewable resource management – will consider fisheries and/or forestry management as a dynamic programming problem using the EXCEL solver; and
• Non-renewable resource management – will consider oil reserve management as a dynamic programming problem using the EXCEL solver.
Total contact hours: 28
Private study hours: 122
Total study hours: 150
This is an optional module for all Single Honours Economics Programmes and Joint Honours Programmes in Economics.
The module is not available to students across other degree programmes in the University.
Four differentiated EXCEL based project reports (1000 words each) (Each report worth 25%)
Reassessment Instrument: Like for Like
• Hanley N, Shogren JF and White B (2013) Introduction to Environmental Economics, Oxford University Press
• Perman, Ma, Common, Maddison and McGilvray (2011) Natural Resource and Environmental Economics, 4th Edition, Pearson.
• Conrad, J. M. (2010) Resource Economics, Second Edition, Cambridge University Press, New York
Additional reading and resources will be brought to the attention of the class when appropriate. For example, this may include the unpublished paper, "Exploring Easter Island Economics with Excel," by Thomas R. Dalton, R. Morris Coats and R. Andrew Luccasen (2011), presented at the 2011 Annual Conference of the Southern Economic Association.
See the library reading list for this module (Canterbury)
On successfully completing the module students will be able to:
8.1. Apply concepts and theories from environmental economics to the formulation and evaluation of environmental issues.
8.2. Demonstrate the knowledge and analytical skills to critically evaluate environmental issues and policy questions.
8.3. Utilise spreadsheets, in particular, Microsoft EXCEL to link theory and application to real world problems.
8.4. Undertake graphical, numerical, simulation and statistical data analyses to further understanding of key theoretical principles.
8.5. Practically address key policy issues within environmental economics.
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