These Environmental Economics (BEE2034) revision notes cover the following topics and subtopics:
Topic 1 Environment & Social Decision-making
- Whom do we care?
- Welfare school
- Efficiency
- Market failure
Topic 2 The regulation of pollution
- Coase theorem
- Voluntary Measures
- Command and control (W4)
Emission Limit
Technology standard
- Market-based Instruments
Tradeable permits
Pigouvian taxes
- International Pollution and IEAs
Topic 3 Appraising Projects & Policies
- Social Cost-Benefit Analysis
CBA Decision Rules:
Pareto Optimally
The Hicks-Kaldor Criteria (potential Pareto)
Problem: Time inconsistency – delay cost
CBA & Externalities
CBA & Sustainability
Comparison of CBA & MCA
- Non-Market Valuation
Production function
Revealed preference
Travel cost method
The hedonic pricing method
Stated Preference
The contingent valuation (CV) method
Choice experiments
Topic 4 Natural Resources Management
- Renewable: Fish
The biological model
Harvesting
Maximum Sustainable Yield:
The Economic Model
Economic Rents – supernormal profit
World Fisheries nowadays
Regulation of fishery:
-
-
- Command and control
- Tax Instruments: the success of C&C has been limited
-
- Renewable: Forests
Max Sustainable Yield (Biological Model):
Maximum Present Value (Economic Model):
Optimal Single Rotation:
The Multiple rotation model:
Non-timber benefits (B)
- Non-Renewables: Mining
Non-renewable resources
Assumption: two periods
Assumption: unlimited period
In a perfectly competitive industry
economic rent:
Conclusion
- Non-renewables resources: Exhaustion
Prophets of Doom
Predictions of Economic Theory
The Role of price
- Non-renewables: Sustainability
Optimal Growth Models
Robert Solow: Optimal Growth Theory
The Hartwick-Solow Rule-Rawlsian Intergenerational SWF
Oil and the rule:
Observation on the rule
The weak vs. Strong Sustainability Debate
Measuring Sustainability
Green National accounts
Conclusion
Environmental issues:
Pollutions: air, water, soil, noise, light, visual
Global warming:
Ocean acidification, oil pollution
Loss of biodiversity, degradation of natural capital stocks (sustainability),
Deforestation
Ozone layers depletion
Acid rain
Carbon trading
Overfishing
You must log in and be a buyer of this download to submit a review.
This website is an independent educational resource and is not affiliated with, endorsed by, or sponsored by any testing organization, certification body, educational institution, or trademark owner. All product names, trademarks, and registered marks mentioned on this site are the property of their respective owners and are used for identification and reference purposes only.
