Course Co-Ordinator and Lecturer: Prof Jen Snowball
Course lecturer: Dr Fiona Drummond
Environmental
Economics 317
What is it all about?
Climate Change & the Environment: The
Defining Economic Challenge of Our Time
Climate change is a systemic market failure: unpriced
externalities now threaten long-run growth, welfare, and
macroeconomic stability.
Its impacts are economy-wide, intergenerational, and
global, affecting production, consumption, investment,
and distribution simultaneously.
What is Environmental Economics?
Study of the relationship between humans, the economy
and the environment, with a focus on developing countries,
especially South Africa and Africa.
(Mostly) uses a standard microeconomic theory to explore
concepts like: public goods, market failure, trade-offs,
incentives, prices & taxes, BUT
Includes discussions of things like fairness and sustainability
AND
How to value and make decisions about goods and services
which are not sold in the market (biodiversity, pollution,
climate change).
(Does use some calculations, graphs etc., but mostly an
application/adaptation of micro theory; Excel spreadsheet &
data work skills required)
Topics include
Theory sections
Property rights, externalities and the environment
Ecosystems goods & services
Practical Tools
Valuing the environment using market and non-market goods & services
Cost-benefit analysis and decision making over time
Managing Natural Resources: Fisheries & Water
Climate change and environmental policy
The nature of the climate change challenge
Energy policy
Carbon pricing
Climate change adaptation
How the course is organised
Lectures
Wednesday 11h25
Wednesday 12h20
Friday 08h40
Online Resources on the course website: tutorial questions, notices and
discussion forums, readings and videos, selected recordings, PP slides.
Tuts:
Submit tut assignments.
Tut meetings on alternate Thursdays
Textbook: LEWIS, L. and TIETENBERG, T. (2020). Environmental
Economics and Policy (7th Edition). Routledge: London and New York.
How to make Eco317 a success?
Keep up with the lectures and ask questions, be interested and
enthusiastic!
Read the textbook and other prescribed readings; use the course website to
find other resources and ask questions.
Plan carefully for submissions (not last minute)
Use the tuts to help clarify things you are unsure of – take note of feedback
on tut exercises
Assessment
Tutorial exercises
Assignment
Class test
Online MCQ tests
Final Examination
Proportion of Mark
10 %
15 %
20 %
5%
50%
Still have questions?
Email:
j.snowball@ru.ac.za
0
