This course familiarizes students with concepts and methods that are used in the analysis of the interaction between the economy, the environment and society, and studies the range of policies that can be applied to environmental and social problems. The key issue is how markets can be made to work for sustainable development.
Code
EC3043
Name
ECONOMICS OF SUSTAINABLE DEVELOPMENT
Credits
4
Pre-requisites
EC2010GE110 OR EC2010 AND EC2020 OR EC2020GE110
Co-requisites
None
Can be taken twice for credit?
No
Discipline
EC (Economics)
Level
Undergraduate
Type
Regular
CAMS ID
2718
Last update with CAMS
Understand the economic principles of supply and demand, welfare analysis, and market failure, when applied to environmental and natural resource issues;
Be aware of different approaches to the economic valuation of environmental assets, including stated and revealed preference methods;
Be able to evaluate the outcomes of various approaches to externality control, including administratively set standards, decentralized policies, and incentive-based strategies;
Appreciate the role of market mechanisms in sustaining natural resources.