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00000000 Course Outline Title AgEc

The course 'Natural Resources and Environmental Economics' (AgEc 421) focuses on the intersection of economics and environmental sustainability, covering topics such as welfare economics, environmental valuation, and pollution control. Students will learn to apply economic theories to the sustainable use of natural resources and evaluate environmental policies. Assessment includes continuous assessments and a final exam, with references provided for further reading.

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7 views

00000000 Course Outline Title AgEc

The course 'Natural Resources and Environmental Economics' (AgEc 421) focuses on the intersection of economics and environmental sustainability, covering topics such as welfare economics, environmental valuation, and pollution control. Students will learn to apply economic theories to the sustainable use of natural resources and evaluate environmental policies. Assessment includes continuous assessments and a final exam, with references provided for further reading.

Uploaded by

kalkidantsegayekal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Course Title: Natural Ressources and Environnemental Economics

Course Code: AgEc 421


Credit Hours: 3
Instructor: Frehiwot Tamru (MSc.)

Course Description

This course is designed to equip students with the emergence of resource and environmental economics;
concept of sustainability problem; welfare economics and the environment; environmental valuation;
economics of pollution control; the efficient and optimal use of natural resources; the theory of resource
extraction: non-renewable resources; and economics of renewable resources

Course objective:
After successful completion of this course students will be able to:
 Explain the evolution, scope and natural resource economics as a disciple
 Describe the fundamental theory of natural resource economics and explain the
interdependency between economy and the natural resources
 Apply optimality theory in sustainable use of natural and environmental resources
 Evaluate pollution control policies and propose the best option.
 Analyze the role of ethics and welfare economics in environmental conservation
Chapter 1: Introduction
1.1. Definitions and Concepts of basic terms
1.2. The emergence of resource and environmental economics
1.3. Fundamental issues in economic approach to resources
Chapter 2: Concept of sustainability
2.1 The origin of the sustainability problem
2.2 Economy environment interdependence
2.3 Ethics economics and the environment
2.4 Economists on sustainability
2.5 Ecologists on sustainability
2.6 The institutional conception
2.7 Sustainable development
2.8 Sustainability and policy
Chapter 3: Welfare Economics and the Environment
3.1 Efficiency and optimality
3.1.1 Economic efficiency
3.1.2 An efficient allocation is not unique
3.1.3 The social welfare function and optimality
3.1.4 Allocation in a market economy
3.1.5 Efficiency given ideal conditions
3.2 Partial equilibrium analysis of market efficiency
3.3 Market failure, public policy and the government
3.3.1 The existence of market for environmental services
3.3.2 Public goods
3.3.3 Externalities
3.3.4 Imperfect information
3.3.5 Government failure
Chapter four: Valuing the Environment
4.1 The need to value the environmental services

1
4.2 Types of economics values
4.3 Valuation techniques
4.4 Benefits of valuating the environment
Chapter Five: Economics of pollution control
5.1. Pollution control targets
5.2. Pollution control instruments
5.3. Pollution policy with imperfect information

Chapter six: The theory of resource extraction/exploitations


6.1. renewable resource extraction in perfectly competitive markets
6.2. non – renewable resource extraction in monopolistic market
Evaluation:
Assessment
- Continuous assessments….60%
 Term Papers…
20
 Quiz 10
 Mid Exam 30
- Final Exam… 40%
References

1. Roger Perman, Yue Ma, James Mcgilvery and Michael Common (2003). Natural Resource and
Environmental Economics. 3rd ed., Addison-Wesley
2. Tom Tietenberg, (2003). Environmental and Natural Resource Economics. 6th ed., Addison
Wesley
3. Internet can also be used; any economics books can also be used as supplementary materials

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