This course will expose students to the use of economic analysis in understanding environmental and natural resources issues with particular reference to the blue economy. The course will also consider how economic theory can be used to solve environmental and natural resource problems.
Objectives
At the end of this course, students should be able to:
- explain environmental performance bonds and the effects of risks on environmental decision making;
- evaluate alternative ethical bases for welfare economics including utilitarianism; and
- assess how irreversibility affects environmental decision making and explain quasi-option value.
Content
The course will cover topics such as, ethics, irreversibility, risks and uncertainty, renewable and nonrenewable resource extraction, property rights, environmental pollution and policy and ecosystem goods & services.
Mode of Delivery
Lectures, presentations, seminars, fieldwork