Skip to content
printicon
Main menu hidden.
Syllabus:

Environmental Economics Profile Course, 30 Credits

Swedish name: Miljöekonomisk profilkurs

This syllabus is valid: 2021-07-05 valid to 2022-01-02 (newer version of the syllabus exists)

Course code: 2NE073

Credit points: 30

Education level: Second cycle

Main Field of Study and progress level: Economics: Second cycle, has second-cycle course/s as entry requirements

Grading scale: VG Pass with distinction, G Pass, U Fail

Responsible department: Department of Economics

Revised by: Rector of Umeå School of Business and Economics, 2021-06-24

Contents

The course consists of four modules, each covering 7.5 ECTS: Energy Economics, Natural Resource Economics, Environmental Economics and Production and the Environment.

Module 1: Environmental Economics and Policy, 7.5 ECTS
The module aims to provide a deeper and advanced understanding of environmental economics and policy issues related to the environment and natural resources. The module also aims to provide knowledge to analyze and understand the economic impact of environmental policies. Furthermore, the module aims to provide advanced knowledge of both theoretical and empirical tools in order to make environmental economic analysis. The module is primarily conducted in seminars with mandatory attendance at seminars in environmental and natural resource economics. The examination of the module is in the form of seminars and report writing.

Module 2: Natural Resource Economics, 7.5 ECTS
The module contains theoretical studies on how microeconomics is used for analyzing natural resource problems. Theories on sustainable and efficient use of renewable resources will be presented. Attention will also be on theories on optimal use of non-renewable resources. The uses of many natural resources are regulated through some form of policy measure. A part of the module is, therefore, devoted to theories on market and regulation failures and the possibilities and limitations of different policy measures when it comes to correcting these failures. The module also involves a small course project on a chosen natural resource problem, which should be presented in written form and in a seminar.

Module 3: Energy Economics, 7.5 ECTS
The module aims to provide a comprehensive understanding of energy markets, as well as knowledge of how to analyze them and how they interact with the rest of the economy. A further aim of is to give students advanced tools to analyze how energy and environmental policies affect the demand and supply of different types of energy. The module will address a number of different types of issues related to demand and supply of energy. For example, one may ask how climate policy affects the energy markets. The literature that will be used consists mainly of a collection of separate articles attached to respective issue.

Module 4: Production and the Environment, 7.5 ECTS
The generation of unintended residuals when producing intended outputs is the key factor behind our serious problems with pollution. The way this joint production is modelled is therefore of crucial importance for our understanding and empirical efforts to change economic activities in order to reduce harmful residuals. The course is an introduction to advanced production theory analysis in general and production and the environment in particular. Production theory offers a mathematical framework for modeling important relationships between production activities and the environment. These include the generation and valuation of production-related environmental effects, environmental contributions to production processes, and production effects of environmental management practices. In this course, we review the seminal and recent empirical work in these areas. Specifically, the course will be focusing on the following topics:
  • Modeling production and the environment
  • Externalities, efficiency, and productivity
  • Network and multi-function models
  • Valuation and substitution
  • Environmental policy and firm performance

Expected learning outcomes

Module 1: Environmental Economics and Policy, 7.5 ECTS
After completion of this module, students should:
  1. Have a thorough knowledge of advance theories of externalities and how to internalize these
  2. Have a deeper understanding of the relationship between economic theory and choice of methods to reduce negative environmental impact
  3. Have an understanding of important advanced methods used to value environmental goods, and their strengths and limitations
  4. Be able to analyze current environmental policy issues based on relevant theories in environmental and natural resource economics.
Module 2: Natural Resource Economics, 7.5 ECTS
After completion of this module, students should:
  1. Be able to read and interpret advanced literature on resource economic issues,
  2. Be able to apply advanced economic theory to analyze typical natural resource management problems,
  3. Be able to report and present their findings in written form and in a seminar,
  4. Have insights about the need for government policy measures in different resource economic areas and the possibilities and limitations of different policy measures.
Module 3: Energy Economics, 7.5 ECTS
After completion of this module, students should:
  1. Understand and interpret the research literature on energy economic issues
  2. Be able to theoretically and empirically describe the demand and supply of energy, and how these interact in a market.
  3. Be able to analyze the effects of energy and environmental policies on the supply and demand of different types of energy
  4. Have a good understanding of the need for government policies in various energy markets, and to analyze the possibilities and limitations of various policy measures.
  5. Have the ability to report and present the result of its own analyzes, both in writing and orally in a seminar
Module 4: Production and the Environment, 7.5 ECTS
After completion of this module, students should:
  1. Have a comprehensive knowledge of theories and applications related to the production and the environment, as well as productivity and efficiency measurement.
  2. Have a deeper understanding of the relationship between economic theory and choice of methods to measure environmental productivity and efficiency.
  3. Understand advanced key methods used in empirical applications, such as data envelopment analysis (DEA) and stochastic frontier analysis (SFA).

Required Knowledge

90 ECTS of undergraduate courses in economics, whereof 30 ECTS on C-level (G2F). Proficiency in English equivalent to the Swedish upper secondary course English B/6. Mathematical Economics I D7, Econometrics I D12 and Microeconomic Analysis I D25, or the equivalent.

Form of instruction

The education will take the form of lectures, excercises and seminars.

Examination modes

The examination consist of written examination, assignments and seminars. The result from the mid-module exams, assignments and seminars are only valid during the current semester.

A second exam opportunity is always offered within a short time span after the regular exam date for those students not achieving a Pass. The subsequent exam opportunity is either the re-take opportunity the week before the fall semester or the next regular exam date.

The following grading system will be used: Pass with Distinction (Väl Godkänd) Pass (Godkänd) Fail (Underkänd). Grades on the course are awarded when the student has passed all examinations and compulsory course elements on all four modules. The grade Pass with Distinction on the course requires the grade Pass with Distinction on at least three out of four modules.

There is normally not possible to make additional examinations to reach a higher grade. Exceptions can be made for a student with the grade Fail on any of the examinations if the examiner (not the lecturer) finds this appropriate. The task must be a minor undertaking, closely related to the learning outcome not reached, and performed in close proximity to the original examination.

When a student has failed an examination on two occasions, he or she has the right to ask for another examiner. A written request for an alternative examiner should be handed to the Director of Studies no later than two weeks before the next examination opportunity.

Exceptions from examination form as stated in the syllabus can be made for a student who has a decision on pedagogical support for disabilities. Individual adaptations of the examination form should be considered based on the student's needs. The examination form shall be adapted within the framework of the expected learning outcomes stated in the course syllabus. At the request of the student, the course responsible teacher, in consultation with the examiner, must promptly decide on the adapted examination form. The decision must then be notified to the student.

Credit transfer
Academic credit transfers are according to the University credit transfer regulations.

Literature

Valid from: 2021 week 27

Module 1

Natural resource and environmental economics
Perman Roger, Perman Roger
4th ed. : New York : Pearson Addison Weslay : 2011. : xxx, 712 s. :
ISBN: 978-0-321-41753-4 (pbk.)
Search the University Library catalogue

Module 2

Natural resource and environmental economics
Perman Roger, Perman Roger
4th ed. : New York : Pearson Addison Weslay : 2011. : xxx, 712 s. :
ISBN: 978-0-321-41753-4 (pbk.)
Search the University Library catalogue

Module 3

Bhattacharyya Subhes C.
Energy economics : concepts, issues, markets and governance
London : Springer : c2011. : xxvi, 721 p. :
ISBN: 0857292676
Search the University Library catalogue

Module 4

An Introduction to Efficiency and Productivity Analysis [electronic resource]
Coelli Timothy J., Battese George E., O’Donnell Christopher J., Prasada Rao D.S.
Second Edition. : Boston, MA : Springer Science+Business Media, Inc. : 2005. :
Table of Contents / Abstracts
ISBN: 978-0-387-25895-9
Search the University Library catalogue