Environmental Economics and Strategy

This subject has the following teaching availabilities in 2015:

Estimated total time commitment of 120 hours per semester

Entry into the Master of Management suite of programs or to a Graduate Program in Environmental Studies.

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For the purposes of considering requests for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Students Experiencing Academic Disadvantage Policy, academic requirements for this subject are articulated in the Subject Description, Subject Objectives, Generic Skills and Assessment Requirements for this entry.

The University is dedicated to provide support to those with special requirements. Further details on the disability support scheme can be found at the Disability Liaison Unit website: http://www.services.unimelb.edu.au/disability/

The subject provides an understanding of the economic analysis of market and government decisions affecting the environment. Topics include economic principles used in analysing private sector decisions on resource use and preservation, externalities and public goods reasons for government intervention, the theory and practice of benefit cost analysis, case study illustrations to water, forests, greenhouse gases and biodiversity.

On successful completion of this subject, students should be able to:

• Apply economic tools of supply and demand, and of benefit cost analysis, to critically evaluate business and government decisions related to the use of the environment as a resource, as a waste disposal and as an amenity;
• Describe and evaluate private sector decisions;
• Critically evaluate the reasons for, and effects of, government intervention via taxes, subsidies, specifying property rights, rules and regulations and tradeable permits;
• Apply economic concepts to analyse examples of real-world environmental issues, including population and economic growth, agricultural land, water, pollution and greenhouse gases and biodiversity.

• 2-hour final examination (70%); and
• 3000 word group assignment due in week 10 and presented during a period for seminar presentations (30%).

You will be advised of prescribed texts by your lecturer.

This subject is not available as a breadth subject.

On successful completion of this subject, students should have improved the following generic skills:

• Evaluation of ideas, views and evidence
• Synthesis of ideas, views and evidence
• Strategic thinking
• Critical thinking
• Application of theory to economic policy and business decision making
• Statistical reasoning
• Problem solving skills
• Collaborative learning and team work
• Negotiation and bargaining
• Written communication
• Oral communication