HomeEasy to StartB.Tech Semester VIIIHS 409 Environmental Economics

The economy and the environment: economy-environment interaction, the first and
second law of thermodynamics, environmental degradation as market failure, Pigouvian
tax, property rights and transactions costs; Economics of natural resources:
renewable and non-renewable resources, common property resources, open access, the
tragedy of commons; Valuation methods: classification of environment and resource
flows, use values, option values and non-use value, contingent valuation, hedonic
pricing, travel cost method, environmental impact assessment; Pollution control:
pollution prevention, control and abatement, command and control instruments and
market based instruments – taxes vs. tradeable permits, overview of different
acts/laws for pollution control in India ; Environment and development:
environment-development trade off, environmental Kuznet-s curve, poverty and
environment, sustainable development- concepts and indicators, environmentally
adjusted GDP, System of Integrated Environmental and Economic Accounting (SEEA).

Texts:

  1. N. Hanley, J. F. Shogren and B. White, An Introduction to
    Environmental Economics, Oxford University Press2001
  2. C. Kolstad, Environmental Economics, Oxford University Press, 2000

References:

1.-U. Sankar (ed.), Environmental Economics (Readers in Economics), Oxford
University Press, 2001

2.-T. Tietenberg, Environmental and Natural Resource Economics,
Pearson Education, 2004

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