| CODE | ECN5092 | ||||||
| TITLE | Advanced Environmental Economics | ||||||
| UM LEVEL | 05 - Postgraduate Modular Diploma or Degree Course | ||||||
| MQF LEVEL | Not Applicable | ||||||
| ECTS CREDITS | 6 | ||||||
| DEPARTMENT | Economics | ||||||
| DESCRIPTION | The study-unit includes both theoretical aspects as well as practical examples of environmental economics in public policy in the local and international spheres. The study-unit covers the following topics: Resource allocation, economic efficiency, market failure, externalities and public goods; modelling of environment-economy relationship; optimal pollution control, government intervention, theory of subsidiarity, government failure; appraisal methodologies, cost-benefit analysis, discounting, environmental impact assessment, uncertainty; techniques of environmental evaluation, direct and indirect valuation, hedonic prices, contingent valuation, travel cost, defensive expenditure and replacement cost approaches ; use of economic instruments for environmental objectives including taxes, subsidies, marketable permits, property rights approaches; concept of sustainable development, weak and strong sustainability, precautionary principle, substitutability, green accounting, environmental indicators; international issues in environmental economics, ethical issues in environmental economics. The aim of this study-unit is to make students conversant with relevant economic theories and economic solutions for contemporary environmental problems. The study-unit includes both theoretical aspects as well as practical examples of environmental economics in public policy in the local and international spheres. The study-unit will also provide an overview of environmental policy making in Malta and in the European Union, and will require students to apply principles of environmental economics to evaluate local and EU environmental policy on issues including air quality, water quality, waste, and nature protection. Reading List - Turner, Pearce and Bateman, Environmental Economics, Harvester Wheatsheaf, London 1995. - Field, Environmental Economics: An Introduction,Mcgraw Hill, Singapore 1994 - Pearce and Turner, Economics of Natural Resources and the Environment, Harvester Wheatsheaf, London 1990 - Hanley and Spash, Cost Benefit Analysis and the Environment, Edward Elgar Publishing, 1993 - Hartwick and Olewiler The Economics Of Natural Resource Use, New York Harper and Row 1986 |
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| STUDY-UNIT TYPE | Lecture | ||||||
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2025/6. It may be subject to change in subsequent years. |
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