Fundamental Knowledge in Environmental Management: Economics - ECON5125

This course is specially designed for students undertaking the University-wide Master of Environmental Management. It is one of 6 "Fundamental Knowledge" courses which form core courses in the MEM. It is designed for people without a background in Economics. The course provides a basic understanding of economic principles and of the roles of economics in environmental management. The course will also explore the economics of ecologically sustainable development. Microeconomics topics include: markets, supply and demand, pollution, environmental assessment, benefit cost analysis, renewable resources and price incentives for environmental improvements. Macroeconomic topics include: sustainable development and inflation, employment versus the environment, and economic growth, development and the environment. The course will explore and critically examine both market and non-market approaches in the attempt to analyse solutions to major environmental problems.