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Unit Summary
Unit type
UG Coursework Unit
Credit points
12
AQF level
Level of learning
Intermediate
Former School/College
Unit aim
Examines economic features of different types of natural resources. The contribution that economics can make to the consideration of environmental questions is considered, along with the use of economic instruments as a way of managing and preventing environmental degradation. The technique of benefit-cost analysis and its use in natural resource based projects and other activities is explained, as are certain other valuation methods such as contingent valuation and the travel cost method. Topical issues such as population, climate change etc are also included.
Unit content
- How the economy works: the nature of the economic problem and importance of economics in environmental management
- Distinguishing between environmental economics and ecological economics
- Valuing the environment
- Market systems, supply, demand and the environment
- Decision making for environmental management
- Using economic instruments in environmental management
- Ecosystem goods and services
- Economic growth and sustainable development
- Natural resource-based industries: fisheries, forestry, tourism
- The economics of water resources management
Learning outcomes
Unit Learning Outcomes express learning achievement in terms of what a student should know, understand and be able to do on completion of a unit. These outcomes are aligned with the graduate attributes. The unit learning outcomes and graduate attributes are also the basis of evaluating prior learning.
| On completion of this unit, students should be able to: | GA1 | GA2 | GA3 | GA4 | GA5 | GA6 | GA7 | |
|---|---|---|---|---|---|---|---|---|
| 1 | understand the nature of the economic problem of scarcity and implications this will have for resource allocation | |||||||
| 2 | analyse the relationship between economic activity and the natural environment and implications of the use of economics on different types of natural resources | |||||||
| 3 | critically appreciate the difference between environmental economics and ecological economics, and the implications of this difference | |||||||
| 4 | demonstrate presentation and discussion skills as relevant to environmental consulting and research | |||||||
| 5 | demonstrate understanding of a range of natural resource issues of topical relevance. | |||||||
On completion of this unit, students should be able to:
-
understand the nature of the economic problem of scarcity and implications this will have for resource allocation
- GA1:
- GA4:
-
analyse the relationship between economic activity and the natural environment and implications of the use of economics on different types of natural resources
- GA3:
- GA4:
-
critically appreciate the difference between environmental economics and ecological economics, and the implications of this difference
- GA1:
- GA3:
-
demonstrate presentation and discussion skills as relevant to environmental consulting and research
- GA1:
- GA3:
- GA4:
-
demonstrate understanding of a range of natural resource issues of topical relevance.
- GA1:
- GA3:
- GA4:
Prescribed texts
- Asafu-Adjaye, J, 2005, Environmental Economics for Non-Economists. ISBN: 981-256-123-4.