- Code ECON8040
- Unit Value 6 units
- Offered by Research School of Economics
- ANU College ANU College of Business and Economics
- Course subject Economics
- Areas of interest Economics
- Academic career Postgraduate
- Prof Ralf Steinhauser
- Mode of delivery In Person
Second Semester 2019
See Future Offerings
In many economic situations, the incentives of individual agents are not aligned with the objective of attaining aggregate economic efficiency, or the maximisation of social welfare. Such situations often lead to market failures that are characterised by environmental degradation or the overexploitation of natural resources.
This course analyses the economic principles underlying the design of efficient environmental policies and the optimal management of natural resources. It identifies conditions under which market failures lead to environmental degradation or to the overexploitation of natural resources, and discusses economic policies that can counteract such market failures. Such policies include imposing taxes on certain economic activities, or allocating property rights that allow these activities to be undertaken. If property rights—which may take the form of pollution permits, or individual quotas for the harvesting of natural resources—are transferable between agents, the trade of property rights between self-interested agents yields economic efficiency as a market-based outcome.
Learning OutcomesUpon a successful completion of this course, students should be able to:
Understand how various market failures may lead to environmental degradation or the overexploitation of natural resources;
Use economic modelling to evaluate various approaches to the design of efficient environmental policies and of rules for the optimal management of natural resources;
Construct and analyse simple dynamic models of natural resource management.
Analyse advanced graduate-level models of environmental economics and natural resource management
See the course outline on the College courses page. Outlines are uploaded as they become available.
The assessment for this course will consist of a midterm examination, and a final exam
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Workload12 hours per week
Requisite and Incompatibility
Tuition fees are for the academic year indicated at the top of the page.
If you are a domestic graduate coursework or international student you will be required to pay tuition fees. Tuition fees are indexed annually. Further information for domestic and international students about tuition and other fees can be found at Fees.
- Student Contribution Band:
- Band 3
- Unit value:
- 6 units
If you are an undergraduate student and have been offered a Commonwealth supported place, your fees are set by the Australian Government for each course. At ANU 1 EFTSL is 48 units (normally 8 x 6-unit courses). You can find your student contribution amount for each course at Fees. Where there is a unit range displayed for this course, not all unit options below may be available.
Offerings and Dates
|Class number||Class start date||Last day to enrol||Census date||Class end date||Mode Of Delivery|
|9028||22 Jul 2019||29 Jul 2019||31 Aug 2019||25 Oct 2019||In Person|