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DRPS : Course Catalogue : School of Economics : Economics

Undergraduate Course: Natural Resource and Environmental Economics (ECNM10022)

Course Outline
SchoolSchool of Economics CollegeCollege of Arts, Humanities and Social Sciences
Credit level (Normal year taken)SCQF Level 10 (Year 4 Undergraduate) AvailabilityNot available to visiting students
SCQF Credits20 ECTS Credits10
SummaryThe aim of this course is to provide an overview of the substantial amount of work on environmental and natural resource economics, which has been carried out over the past decade. The course covers a major area of applied welfare economics, which will build on the material introduced in Economics 2 and Topics in Microeconomics and show how economics can contribute to policy formulation on a range of topics that are generating increasing public concern.
Course description Topics covered include: renewable resources; fisheries and forests; replenishable resources; water; non-renewable resources; mining and energy; externalities and environmental policy; air pollution; water pollution; sustainable development, urban and industrial growth, rural growth and natural resource management; regional and global environmental issues.

Gordon Hughes is a leading 'practitioner', who runs an economics consultancy and travels the world advising on natural resource, environmental and other issues. As he is in Edinburgh at weekends between travel commitments, the course will be taught mostly on Mondays 0900-0950 or Fridays 1610-1800. Class members are notified by email when classes will be held. Note that since there may be some irregularity of classes this places a premium on good time-management skills and flexibility/adaptability, in comparison to more standard weekly classes.

Important information regarding course Quota: This course has a quota and is currently full. If you would like to be added to the waitlist, please email the Course Secretary:
Entry Requirements (not applicable to Visiting Students)
Pre-requisites Students MUST have passed: Topics in Microeconomics (ECNM10070)
Prohibited Combinations Other requirements None
Additional Costs None
Course Delivery Information
Academic year 2020/21, Available to all students (SV1) Quota:  0
Course Start Full Year
Timetable Timetable
Learning and Teaching activities (Further Info) Total Hours: 200 ( Lecture Hours 20, Seminar/Tutorial Hours 4, Summative Assessment Hours 2, Programme Level Learning and Teaching Hours 4, Directed Learning and Independent Learning Hours 170 )
Assessment (Further Info) Written Exam 40 %, Coursework 60 %, Practical Exam 0 %
Additional Information (Assessment) Tutorial performance: 30% of the final mark comprised of 20% for essays and 10% for tutorial participation
Class essay: 30% of the final mark
Final exam: 40% of the final mark

Semester 1 Visiting Student Variant Assessment

Presentation- Tutorial 1 and 2 (10%)
Two x 1500 word essays (90%)
Feedback Students will be given feedback on tutorial essays and on the course essay. Comments on tutorial essays will be provided at the tutorial and in writing. Comments on the course essay will be provided within three weeks of the submission deadline.
Exam Information
Exam Diet Paper Name Hours & Minutes
Main Exam Diet S2 (April/May)2:00
Learning Outcomes
On completion of this course, the student will be able to:
  1. A knowledge and understanding of the analytical and practical foundations of the economics of natural resource and environment management with particular emphasis on policy analysis and the choices that must be made between competing objectives. They should be familiar with the techniques of evaluating non-market outcomes, the design and application of policy instruments, the relationship between local, regional and global aspects of natural resource and environment problems, and the application of economic models to complex systems.
  2. Research and investigative skills such as problem framing and solving and the ability to assemble and evaluate complex evidence and arguments.
  3. Communication skills in order to critique, create and communicate understanding.
  4. Personal effectiveness through task-management, time-management, dealing with uncertainty and adapting to new situations, personal and intellectual autonomy through independent learning.
  5. Practical/technical skills such as, modelling skills (abstraction, logic, succinctness), qualitative and quantitative analysis and general IT literacy.
Reading List
The primary textbook for the course is:

T. Tietenberg & L. Lewis - Environmental and Natural Resource Economics (9th Edition, Pearson Education, 2011)

This provides a comprehensive coverage of the subject matter of the course together with a good range of illustrations and supplementary reading. There are two other textbooks that provide more detailed material on the theoretical underpinnings of the subject. References will be provided to appropriate chapters in these texts and students should consult them in order to familiarize themselves with the basic analytical models. These are:

R. Perman, Y. Ma, M. Common, D. Maddison & J. McGilvray Natural Resource and Environmental Economics (4th Edition, Pearson Education, 2011)

N. Hanley, J.F. Shogren & B. White - Environmental Economics in Theory and Practice (2nd Edition, Palgrave Macmillan, 2006)

Further specific readings will be recommended from a variety of other books that provide more extensive coverage of individual topics in the course.
Additional Information
Graduate Attributes and Skills See Learning Outcomes
Additional Class Delivery Information 1 x 2 hour lecture per week, students are notified by email in advance whether to attend the Friday/Monday session each week. Tutorials to be arranged in addition.
Course organiserProf Gordon Hughes
Tel: (0131 6)50 8358
Course secretaryMr Robert Brown
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