Undergraduate Programme and Module Handbook 2021-2022 (archived)

Module ECON1051: THE ECONOMICS OF SUSTAINABILITY

Department: Economics and Finance

ECON1051: THE ECONOMICS OF SUSTAINABILITY

Type	Open	Level	1	Credits	20	Availability	Available in 2021/22	Module Cap		Location	Durham

Prerequisites

A Level Mathematics minimum grade A

Corequisites

Principles of Economics (ECON1011).

Excluded Combination of Modules

None.

Aims

To facilitate students' understanding of evolving approaches to how economists analyse environmental issues as well as contribute to decision-making about the environment and intergenerational equity. Students will be made aware of the limitations of economic approaches in the real world.

Content

A range of material is covered at an introductory level with emphasis on topics such as:
Economics of sustainability: intergenerational equity, discount rates, interdisciplinary approaches to environmental issues
Growth and the Environment: limits to economic growth and technology.
Green accounting and environmental indicators.
Welfare economics.
Environmental valuation.
Analytical tools, e.g. cost-benefit analysis, cost effectiveness and alternatives.
Economic efficiency and markets, market failure, externalities.
Instruments of pollution control policy: environmental standards, taxes, tradable permits.
Criteria for evaluating environmental policies.
Resource economics: renewable and non-renewable.
Energy economics.
Global environmental problems: Climate change, biodiversity loss, land use, world fisheries, urban-rural tensions.
Topics in the economics of sustainability and policy solutions.

Learning Outcomes

Subject-specific Knowledge:

Understand how Economics can help to assess and solve environmental problems
Be able to formulate environmental policy recommendations

Subject-specific Skills:

How to use economic tools and mathematical and graphical analysis for the solution of environmental problems

Key Skills:

Written Communication. - e.g. through summative assessment.
Initiative e.g. by searching relevant literature and information in preparation for assessed work

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

Teaching is by lectures and seminars. Learning takes place through attendance at lectures, preparation for and participation in seminar classes, and private study.
Formative assessment is by one 3000-word long essay-based assignment in term 2; and a contribution to a group presentation.
Summative assessment is by means of a written examination to test students' knowledge and understanding of the subject matter.

Teaching Methods and Learning Hours

Activity	Number	Frequency	Duration	Total/Hours
Lectures	20	1 per week	2 hour	40
Revision Lecture	1	1 in term 3	2 hour	2
Seminars	7	2 in term 1, 5 in term 2	1 hour	7	■
Preparation and Reading				151
Total				200

Summative Assessment

Component: Examination		Component Weighting: 100%
Element	Length / duration	Element Weighting	Resit Opportunity
One written examination	3 hours	100%	Same

Formative Assessment:

One 3000-word long essay-based assignment in Term 2, and a contribution to a group presentation.

■ Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University