The course “Economics for the Environment’ begins with an explanation of what economics is. In this explanation, a role for economics in the consideration of environmental matters is established. The potential for markets to solve environmental problems is explored and this is accompanied by an analysis of government, or ‘command and control’ mechanisms for dealing with environmental issues. Throughout the course economic principles and techniques are set out. These include opportunity cost, demand, transaction costs, property rights and benefit cost analysis.

This course also provides the basic skills for further studies in environmental and resource economics.

Learning Outcomes

Upon successful completion, students will have the knowledge and skills to:

1. explain how the discipline of economics, and economic tools such as cost-benefit analysis, can be used to analyse environmental and natural resource use issues
2. describe the potential for market and government ('command and control) mechanisms to address environmental issues
3. define and explain the role of economics in the management of natural resources, including water, forests, energy and fisheries, at local, regional and global levels.

Research-Led Teaching

A feature of the course will be the use, where possible, of recent research on real world examples.

Field Trips

There are no field trips. Students will be given feedback during tutorial sessions throughout the semester.

Additional Course Costs

None

Examination Material or equipment

The final exam is open-book. No computers or internet.

Required Resources

Weekly required reading list

W1. Introduction

Shiva, Vandana (2005), 'Recovering the real meaning of sustainability', in D. Cooper & J. Palmer (eds), Environment in Question: Ethics and Global Issues, London: Routledge.

Raworth, Kate (2017), 'Why it's time for Doughnut Economics', IPPR Progressive Review, 24(3): 216-222.

 

W2. Environmental crises and scarcity in early environmental economic thought

Jevons, William Stanley (2001), 'Of the economy of fuel', Organization & Environment, 14(1): 99-104.

Polanyi, Karl (1944), '15. Market and nature', The Great Transformation: The Political and Economic Origins of Our Time, 2001 edn, Beacon Press: Boston.

 

W3. Pollution and property

Tietenberg, Tom & Lynne Lewis (2018), '2. The economic approach: Property rights, externalities and environmental problems.' Environmental and Resource Economics, 11th edn, Abingdon: Routledge.

Ostrom, Elinor & Charlotte Hess (2010), 'Private and common property rights', in B. Bouckaert (ed.), Property Law and Economics, vol. 5, Cheltenham: Edward Elgar.

 

W4. Market-based instruments

Stavins, Robert N (1989), 'Harnessing market forces to protect the environment', Environment: Science and Policy for Sustainable Development, 31(1): 5-35.

Spash, Clive (2010), 'The brave new world of carbon trading', New Political Economy, 15(2): 169-195.

W5. Direct regulation

Green, Fergus & Richard Denniss (2018), 'Cutting with both arms of the scissors: The economic and political case for restrictive supply-side climate policies', Climatic Change, 150(1): 73-87.

Gómez-Baggethun, Erik & Roldan Muradian (2015), 'In markets we trust? Setting the boundaries of Market-Based Instruments in ecosystem services governance', Ecological Economics, 117: 217-224.

 

W6. Natural capital and trade-offs

Barbier, Edward B, Anil Markandya & David W Pearce (1990), 'Environmental sustainability and cost-benefit analysis', Environment and Planning A, 22(9): 1259-1266.

Costanza, Robert & Herman E Daly (1992), 'Natural capital and sustainable development', Conservation Biology, 6(1): 37-46.

Tietenberg, Tom & Lynne Lewis (2018), '3. Evaluating trade-offs: Benefit-cost analysis and other decision-making metrics'. Environmental and Resource Economics, 11th edn, Abingdon: Routledge.

  

W7. Growth and value

Georgescu-Roegen, Nicholas (1975), 'Energy and economic myths', Southern Economic Journal, (3): 347-381.

Vlachou, Andriana (2005), 'Environmental regulation: A value-theoretic and class-based analysis', Cambridge Journal of Economics, 29(4): 577-599.

 

W8. Labour and profit

Stilwell, Frank (2021), 'From green jobs to Green New Deal: What are the questions?', The Economic and Labour Relations Review, 32(2): 155-169.

Mies, Maria (2007), 'Patriarchy and accumulation on a world scale revisited.(Keynote lecture at the Green Economics Institute, Reading, 29 October 2005)', International Journal of Green Economics, 1(3): 268-275.

 

W9. Indigenous economic policy

Altman, Jon C (2004), 'Economic development and Indigenous Australia: Contestations over property, institutions and ideology*', Australian Journal of Agricultural and Resource Economics, 48(3): 513-534.

Langton, Marcia & Odette Mazel (2008), 'Poverty in the midst of plenty: Aboriginal people, the ‘resource curse’ and Australia’s mining boom', Journal of Energy & Natural Resources Law, 26(1): 31-65.

 

W10. Gender and green policy

Agarwal, Bina (1994) 'Gender and command over property: A critical gap in economic analysis and policy in South Asia', World Development, 22(10): 1455-1478.

Nelson, Julie A (2008) 'Economists, value judgments, and climate change: A view from feminist economics', Ecological Economics, 65(3): 441-447.

W11. Green industrial policy

Mazzucato, Mariana (2016), 'From market fixing to market-creating: A new framework for innovation policy', Industry and Innovation, 23(2): 140-156.

Chang, Ha-Joon & Antonio Andreoni (2020), 'Industrial policy in the 21st century', Development and Change, 51(2): 324-351.

 

W12. Review

No new reading.

 

Recommended Resources

General economics texts:

Chang, Ha-Joon (2014), Economics: The User's Guide, New York: Bloomsbury Press.

Ferber, Marianne & Julie Nelson (eds) (1993), Beyond Economic Man: Feminist Theory and Economics, Chicago: University of Chicago Press.

Nelson, Julie (2018), Economics for Humans, Chicago: Chicago University Press.

Stanford, Jim (2015), Economics for Everyone, London: Pluto Press. https://economicsforeveryone.ca/

Stilwell, Frank (2011), Political Economy: The Contest of Economic Ideas, 3rd edn, Oxford: Oxford University Press.

Quiggin, John (2019), Economics in Two Lessons: Why Markets Work So Well, and Why They Can Fail So Badly, New Jersey: Princeton University Press.

 

Green economics texts:

Cato, Molly Scott (2009), Green Economics: An Introduction to Theory, Policy and Practice, London: Earthscan.

Cato, Molly Scott (2021), Economy and Environment, 2nd edn, Abingdon: Routledge.

Raworth, Kate (2017), Doughnut Economics: Seven Ways to Think like a 21st-century Economist, London: Penguin.

Harris, Jonathan M & Brian Roach (2018), Environmental and Natural Resource Economics: A Contemporary Approach, 4th edn, Abingdon: Routledge.

Tietenberg, Tom & Lynne Lewis (2018), Environmental and Resource Economics, 11th edn, Abingdon: Routledge.

Staff Feedback

Students will be given feedback in the following forms in this course:

• Verbal feedback during tutorials

Student Feedback

ANU is committed to the demonstration of educational excellence and regularly seeks feedback from students. Students are encouraged to offer feedback directly to their Course Convener or through their College and Course representatives (if applicable). The feedback given in these surveys is anonymous and provides the Colleges, University Education Committee and Academic Board with opportunities to recognise excellent teaching, and opportunities for improvement. The Surveys and Evaluation website provides more information on student surveys at ANU and reports on the feedback provided on ANU courses.

Other Information

Referencing in tutorial exercises, and in exams

For the tutorial exercises, including references in your answers is optional. Just stating standard results accurately without references is enough; but you can add references if you wish, though make sure they are appropriate ones! To save space, you can reference a textbook like this in the text of your answer: '(HR Box 3.2)', '(HR Fig. 3.4)' or '(TL pp63-4)', and the lecture slides like this: '(Lec 2 slide 34)' or '(Lec 3 slide 10)' – without having to add any citations in a References list at the end. Referencing is permitted but not expected in exams.

Hints for assessment answers:

Answer the question as written, not the question you'd like to answer, and don't include irrelevant material. Generally, it's a good idea to include the wording of the question somewhere in your answer. For example, if somewhere in your answer to "Why does X happen?" you write "X happens because...", you're showing that you're answering the question.

Avoid too many passives like saying this or that wonderful environmental action should be done, otherwise you're often just indulging in wishful thinking. Say which people, firms or governments need to do these things, so that you realise the practical and political implications of what you're suggesting.

Including diagrams can gain you marks, or it can reveal your ignorance. For example, more than half of the ENVS2007 students who tried to draw HR Fig 8.5, or TL Fig 14.3 or 14.6, for an exam answer in 2019 made a mistake which showed they didn't understand the diagram.

 

General points:

Back up your laptop notes every day! Losing or breaking a laptop just before an assessment is due is not a valid reason for any special consideration.

Do not make travel plans during teaching weeks or the exam period! Planned travel (as opposed to travel for unforeseen reasons) is not a valid reason for deferred assessment.

For all assessment extensions, Special Assessment Considerations and Deferred Examinations, contact whoever of Paul or Thang is currently lecturing (copied to your tutor if appropriate) in the first instance.

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Tuesday, 21 February Seminar: Introduction	Wednesday, 22 February Tutorial: Discussion of Kate Raworth and Vandana Shiva's work.
2	Tuesday, 28 February Seminar: Environmental crises and resource scarcity in early economic thought	Wednesday, 29 February Tutorial: Discussion and student presentations about William Stanley Jevons and Karl Polanyi's work.
3	Tuesday, 7 March Seminar: Pollution control and property	Wednesday, 8 March Tutorial: Discussion and student presentations about Elinor Ostrom and Ronald Coase
4	Tuesday, 14 March Seminar: Market-based instruments	Wednesday, 15 March Tutorial: Discussion and student presentations about Robert Stavins and Clive Spash
5	Tuesday, 21 March Seminar: Direct regulation	Wednesday, 22 March Tutorial: Discussion and student presentations about Richard Dennis and Erik Gómez-Baggethun
6	Tuesday, 28 March Seminar: Natural capital and trade-offs	Wednesday, 29 March Tutorial: Discussion and student presentations about David Pearce and Herman Daly
7	Tuesday, 18 April Seminar: Growth and value	Wednesday, 30 March Tutorial: Discussion and student presentations about Nicholas Georgescu-Roegen and Adriana Vlachou
8	Tuesday, 25 April Seminar: Labour and profit (recorded, Anzac day)	Wednesday, 26 April Tutorial: Discussion and student presentations about Frank Stilwell and Maria Mies
9	Tuesday, 2 May Seminar: Indigenous economic policy	Wednesday, 3 May Tutorial: Discussion and student presentations about Marcia Langton and Jon Altman
10	Tuesday, 9 May Seminar: Gender and green policy	Wednesday, 10 May Tutorial: Discussion and student presentations about Bina Agarwal and Julie Nelson
11	Tuesday, 16 May Seminar: Green industrial policy	Wednesday, 17 May Tutorial: Discussion and student presentations about Mariana Mazzucato and Ha-Joon Chang
12	Tuesday, 23 May Review	Wednesday, 24 May Review

Tutorial Registration

Please register for tutorials via MyTimetable.

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
Participation (10%)	10 %	20/02/2023	26/02/2023	1,3
Tutorial paper (20%)	20 %	*	*	1,2,3
Mid-semester examination (20%)	20 %	*	*	1,2,3
Final examination (50%)	50 %	01/06/2023	29/06/2023	1,2,3

* If the Due Date and Return of Assessment date are blank, see the Assessment Tab for specific Assessment Task details

Policies

ANU has educational policies, procedures and guidelines, which are designed to ensure that staff and students are aware of the University’s academic standards, and implement them. Students are expected to have read the Academic Misconduct Rule before the commencement of their course. Other key policies and guidelines include:

• Student Assessment (Coursework) Policy and Procedure
• Special Assessment Consideration Policy and General Information 
• Student Surveys and Evaluations
• Deferred Examinations
• Student Complaint Resolution Policy and Procedure

Assessment Requirements

The ANU is using Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. For additional information regarding Turnitin please visit the Academic Integrity . In rare cases where online submission using Turnitin software is not technically possible; or where not using Turnitin software has been justified by the Course Convener and approved by the Associate Dean (Education) on the basis of the teaching model being employed; students shall submit assessment online via ‘Wattle’ outside of Turnitin, or failing that in hard copy, or through a combination of submission methods as approved by the Associate Dean (Education). The submission method is detailed below.

Moderation of Assessment

Marks that are allocated during Semester are to be considered provisional until formalised by the College examiners meeting at the end of each Semester. If appropriate, some moderation of marks might be applied prior to final results being released.

Participation

Participation in both seminars (interactive lectures) and tutorials is strongly encouraged to get the most from the course.

Examination(s)

Please refer to the central examinations schedule for details about the scheduling of the final examination.

Please note, that where a date range is used in the Assessment Summary in relation to exams, the due date and return date for mid-semester exams indicate the approximate timeframe in which the exam will be held; the due and return date for end of semester exams indicate the approximate timeframe in which the exam will be held and the date official end of Semester results are released on ISIS. Students should consult the course wattle site and the ANU final examination timetable to confirm the date, time and venue of the exam.

Assessment Task 1

Participation (10%)

Students are expected to contribute to class discussion in the seminars (interactive lectures) and tutorials. Your participation mark will be based on your contribution to the seminar classes. If you are unable to attend seminars, please consider taking a different elective course or enrolling in ENVS2007 in a year during your candidature that you can participate in the course fully.

ASSESSMENT CRITERIA:

1)     Well-prepared for class discussion

2)     Reflexive dialogue with others in order to contribute to the scholarly community

3)     Conceptually informed note-taking

Assessment Task 2

Tutorial paper (20%)

Due: during weekly tutorials

Overview

Between weeks 2 and 11, students will work together in 2-3 person groups to develop an overview and printed information sheet on the two scholars whose work we are reading. The purpose of this exercise is to develop your reading and note-taking skills. The presentation should introduce the class to the two authors and ideas we're reading this week. Use maximum three slides to summarise your paper and post 1-2 questions to help open up discussion for class. The presentation is not marked, but the tutorial paper will be.

Further tutorial paper instructions

Your tutorial paper should locate the scholars and the paper of theirs we have read within the plural field of green economics. Comment on their key arguments and insights, their overall methodological approach (theory of knowledge) and the methods (techniques for generating evidence and interpretation of economic phenomena) they use. You may also find it helpful to look at the key methods they use in other books or papers they have written. Give your assessment of the scholar's ideas and research findings in terms of how they might help us explain the causes of and/or economic policy responses to environmental problems. Finish with 2 questions for the class to discussion.

The printed information sheet should be 1 double-sided page. The goal of this printed sheet is to demonstrate your skills in note-taking and interpretation of ideas. Apart from Beck and Mel (the markers), the audience for this handout is your peers who are also seeking understanding of the interdisciplinary field of green economics.

ASSESSMENT CRITERIA

1) Cogent summary of the scholarship and authors being discussed

2) Accurate use of well-chosen additional academic and supplementary sources

3) Insightful commentary on economic methods and methodologies

4) Effective audience engagement

5) Concise and timely delivery

Assessment Task 3

Mid-semester examination (20%)

A Mid-semester examination (open-book, no computers) during an evening in Week 6 on content lectured in Weeks 1-5; 10 minutes study period plus 90 minutes writing.

Please refer to the course Wattle site for confirmed dates.

Assessment Task 4

Final examination (50%)

A Final examination (open-book, no computers) on all course contents from Weeks 1-12;

15 minutes study plus 120 minutes writing

The date range in the Assessment Summary indicates the start of the end of semester exam period and the date official end of semester results are released on ISIS. Please check the course Wattle site and the ANU final Examination Timetable http://www.anu.edu.au/students/program-administration/assessments-exams/examination-timetable to confirm the date, time and location exam.

Academic Integrity

Academic integrity is a core part of the ANU culture as a community of scholars. At its heart, academic integrity is about behaving ethically, committing to honest and responsible scholarly practice and upholding these values with respect and fairness.

The ANU commits to assisting all members of our community to understand how to engage in academic work in ways that are consistent with, and actively support academic integrity. The ANU expects staff and students to be familiar with the academic integrity principle and Academic Misconduct Rule, uphold high standards of academic integrity and act ethically and honestly, to ensure the quality and value of the qualification that you will graduate with.

The Academic Misconduct Rule is in place to promote academic integrity and manage academic misconduct. Very minor breaches of the academic integrity principle may result in a reduction of marks of up to 10% of the total marks available for the assessment. The ANU offers a number of online and in person services to assist students with their assignments, examinations, and other learning activities. Visit the Academic Skills website for more information about academic integrity, your responsibilities and for assistance with your assignments, writing skills and study.

Online Submission

You will be required to electronically sign a declaration as part of the submission of your assignment. Please keep a copy of the assignment for your records. Unless an exemption has been approved by the Associate Dean (Education) submission must be through Turnitin.

Hardcopy Submission

No hardcopy submission is required for any assessment

Late Submission

Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure. The Course Convener may grant extensions for assessment pieces that are not examinations or take-home examinations. If you need an extension, you must request it in writing on or before the due date. If you have documented and appropriate medical evidence that demonstrates you were not able to request an extension on or before the due date, you may be able to request it after the due date.

Late submission of assessment tasks without an extension are penalised at the rate of 5% of the possible marks available per working day or part thereof. Late submission of assessment tasks is not accepted after 10 working days after the due date, or on or after the date specied in the course outline for the return of the assessment item.

Referencing Requirements

Accepted academic practice for referencing sources that you use in presentations can be found via the links on the Wattle site, under the file named “ANU and College Policies, Program Information, Student Support Services and Assessment”. Alternatively, you can seek help through the Students Learning Development website.

Extensions and Penalties

Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure. Extensions may be granted for assessment pieces that are not examinations or take-home examinations. If you need an extension, you must request an extension in writing on or before the due date. If you have documented and appropriate medical evidence that demonstrates you were not able to request an extension on or before the due date, you may be able to request it after the due date.

Resubmission of Assignments

Re-submission of assignments is permitted up to the due time/date. No re-submissions after the due date.

Privacy Notice

The ANU has made a number of third party, online, databases available for students to use. Use of each online database is conditional on student end users first agreeing to the database licensor’s terms of service and/or privacy policy. Students should read these carefully. In some cases student end users will be required to register an account with the database licensor and submit personal information, including their: first name; last name; ANU email address; and other information.
In cases where student end users are asked to submit ‘content’ to a database, such as an assignment or short answers, the database licensor may only use the student’s ‘content’ in accordance with the terms of service – including any (copyright) licence the student grants to the database licensor. Any personal information or content a student submits may be stored by the licensor, potentially offshore, and will be used to process the database service in accordance with the licensors terms of service and/or privacy policy.
If any student chooses not to agree to the database licensor’s terms of service or privacy policy, the student will not be able to access and use the database. In these circumstances students should contact their lecturer to enquire about alternative arrangements that are available.

Distribution of grades policy

Academic Quality Assurance Committee monitors the performance of students, including attrition, further study and employment rates and grade distribution, and College reports on quality assurance processes for assessment activities, including alignment with national and international disciplinary and interdisciplinary standards, as well as qualification type learning outcomes.

Since first semester 1994, ANU uses a grading scale for all courses. This grading scale is used by all academic areas of the University.

Support for students

The University offers students support through several different services. You may contact the services listed below directly or seek advice from your Course Convener, Student Administrators, or your College and Course representatives (if applicable).

• ANU Health, safety & wellbeing for medical services, counselling, mental health and spiritual support
• ANU Diversity and inclusion for students with a disability or ongoing or chronic illness
• ANU Dean of Students for confidential, impartial advice and help to resolve problems between students and the academic or administrative areas of the University
• ANU Academic Skills and Learning Centre supports you make your own decisions about how you learn and manage your workload.
• ANU Counselling Centre promotes, supports and enhances mental health and wellbeing within the University student community.
• ANUSA supports and represents undergraduate and ANU College students
• PARSA supports and represents postgraduate and research students