- To introduce the broad principles of economic reasoning in relation to environmental problems and solutions;
- To illustrate how economics can help explain the causes of current environmental problems
- To describe how economics can be used to mitigate environmental damage
After following this module, students will
- Understand the importance of economic motives in all aspects of human life and will be familiar with constructing economic arguments
- Be able to explain environmental degradation in economic terms
- Possess the tools to evaluate policy interventions aimed to environmental conservation in terms of their costs and benefits, and
- Be able to critically comment on current environmental policy issues.
Purpose and content
It is becoming apparent that environmental degradation due to human activity is excessive and even dangerous. What are the economic reasons that drive human behaviour in relation to the natural environment? Can economic tools and arguments be used to reach a compromise between the seemingly contrasting goals of material progress and environmental conservation? This module of the core course will introduce the set of economic ideas and tools that can help to answer these questions.