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).


  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


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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