EC334: Environmental Economics

Module code: EC334

Module provider: Economics; School of Philosophy, Politics and Economics

Credits: 20

Level: Level 3 (Honours)

When you'll be taught: Semester 2

Module convenor: Dr Stefania Lovo, email: s.lovo@reading.ac.uk

Pre-requisite module(s):

Co-requisite module(s):

Pre-requisite or Co-requisite module(s): BEFORE OR WHILE TAKING THIS MODULE YOU MUST TAKE EC201 OR TAKE EC201NU (Compulsory)

Module(s) excluded:

Placement information: NA

Academic year: 2024/5

Available to visiting students: Yes

Talis reading list: Yes

Last updated: 23 May 2024

Overview

Module aims and purpose

This module aims to provide an overview of the theories, methodological tools, and evidence to understand contemporary environmental problems such as climate change, pollution, and sustainable development. The framework taught in the module can be used to evaluate various important policy questions such as: should air regulations be tightened or loosened? Does economic development necessarily result in a higher environmental damage? Is globalisation bad for the environment? Are we running out of oil and other natural resources? What are the policy tools to address climate change?

Module learning outcomes

By the end of the module, it is expected that students will be able to:

1. Understand the issues concerning the environment, climate change and natural resources and how they affect our economies and societies
2. Solve and manipulate a variety of diagrammatic and algebraic models in environmental economics, and critically evaluate those models
3. Use methods and tools for valuing environmental resources.
4. Critically evaluate current and proposed policies dealing with climate change and the environment
5. Understand the limitations of economic analysis to provide guidance on environmental issues
6. Express an informed view regarding the potential of economics to help societies achieve their environmental goals

Module content

Overview of climate change, environmental and natural resource problems.

Natural resources and energy economics: the management of common resources and the modelling of renewable and non-renewable resources.

Decision making and environmental protection: Cost-benefit analysis and the evaluation of natural resources

Environmental policy:  optimal design of pollution control policy instruments (command and control policy, taxation and tradable permits) and real-world applications and impacts.

Globalisation and the environment: interaction between the environment, trade, , and global development.

Structure

Teaching and learning methods

Lectures will be used to present the material. Seminars will review some parts of the lecture and will also involve an interacting component with in-class exercises, simulations and discussions

Study hours

At least 20 hours of scheduled teaching and learning activities will be delivered in person, with the remaining hours for scheduled and self-scheduled teaching and learning activities delivered either in person or online. You will receive further details about how these hours will be delivered before the start of the module.

Please note the independent study hours above are notional numbers of hours; each student will approach studying in different ways. We would advise you to reflect on your learning and the number of hours you are allocating to these tasks.

Semester 1 The hours in this column may include hours during the Christmas holiday period.

Semester 2 The hours in this column may include hours during the Easter holiday period.

Summer The hours in this column will take place during the summer holidays and may be at the start and/or end of the module.

Assessment

Requirements for a pass

Students need to achieve an overall module mark of 40% to pass this module.

Summative assessment

Penalties for late submission of summative assessment

The Support Centres will apply the following penalties for work submitted late:

Assessments with numerical marks

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of three working days;
• the mark awarded due to the imposition of the penalty shall not fall below the threshold pass mark, namely 40% in the case of modules at Levels 4-6 (i.e. undergraduate modules for Parts 1-3) and 50% in the case of Level 7 modules offered as part of an Integrated Masters or taught postgraduate degree programme;
• where the piece of work is awarded a mark below the threshold pass mark prior to any penalty being imposed, and is submitted up to three working days after the original deadline (or any formally agreed extension to the deadline), no penalty shall be imposed;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

Assessments marked Pass/Fail

• where the piece of work is submitted within three working days of the deadline (or any formally agreed extension of the deadline): no penalty will be applied;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension of the deadline): a grade of Fail will be awarded.

The University policy statement on penalties for late submission can be found at: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/qap/penaltiesforlatesubmission.pdf

You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Formative assessment

Formative assessment is any task or activity which creates feedback (or feedforward) for you about your learning, but which does not contribute towards your overall module mark.

Reassessment

Additional costs