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.
