Economics of the Low Carbon Environment

Description

Considers the economics of transitioning to a decarbonised economy. Critically examines the tools environmental economists use and the policies those tools support. Explores the macro and micro-economic implication of transition, with particular focus on economic growth, equity, employment, innovation and innovation diffusion.

Learning objectives

  1. To provide knowledge and understanding of how economic policy alters carbon footprint of economies and businesses;
  2. To apply economic analysis to the peculiarities and challenges that the transition to a low-carbon society poses;
  3. To present students with analytical tools capable of incorporating  environmental impacts into economic decision making and to explore the range of instruments that governments can use to influence the behaviour of private, profit-seeking firms and self-interested individuals.
  4. To develop the ability to appraise investment projects and environmental policies using a variety of techniques such as environmental cost-benefit;
  5. To develop an understanding of the techniques to evaluate environmental policy programmes;
  6. To give an awareness of the wider implications and requirements of a shift from a ‘resource-exploitative’ to a ‘sustainable development’ economy.
  7. To provide a range of transferable skills including literature review, academic writing, active participation in debates.

Learning outcomes

Knowledge and Understanding:

  • Apply core economic theory and economic reasoning to applied topics.
  • Show understanding of analytical methods, both theory- and model-based.
  • Demonstrate understanding of verbal, graphical representation of economic ideas and analysis, including the relationship between them.

Intellectual Skills:

  • Work with abstract concepts and in a context of generality.
  • Reason logically and work analytically.
  • Understand the context in which a problem is to be addressed.

Professional / Practical Skills:

  • Select and apply appropriate techniques to solve problems.
  • Justify conclusions using economic arguments with appropriate rigour.

Transferable Skills:

  • Apply graphical techniques in an appropriate manner.
  • Communicate effectively and clearly in written and oral formats.

Please note: This information is subject to review and change without notice.