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2024/25 Taught Postgraduate Module Catalogue

SOEE5095M Environmental Economics and Policy

15 creditsClass Size: 165

Module manager: Jouni Paavola

Taught: Semester 2 (Jan to Jun) View Timetable

Year running 2024/25

This module is not approved as an Elective

Module summary

The module introduces the micro-economic approach to environmental issues, which conceptualises environmental problems as market failures leading to a loss of social welfare and environmental policies as interventions that seek to restore optimal allocation of resources. The module provides an overview of the key areas of environmental economics and helps students develop an ability to interpret, analyse and assess in economic terms environmental issues and policies that they will encounter as part of their studies and careers.


The main module objective is to give students a critical understanding of the key concepts and terminology of environmental economics, and an ability to explore the relationships between economic activity and the environment using these key concepts. The module provides a foundation in environmental economics that students can apply in their research or use as a base for more advanced study. The module builds on the principles of active learning and active preparation and engagement by the student.

Learning outcomes
On completion of this module, the students should:
- have developed a critical literacy in environmental economics
- be able to understand the economic rationale and implications of different environmental policy instruments;
- have developed a capacity to conduct economic analyses which are essential for practitioners, policy makers, and academics;
- have a capacity to engage in further economics-related studies.

Skills outcomes
The module emphasises critical analysis, synthesis, and summarising of information and ideas presented in the economic literature. The module also develops skills in application of economic assessment methods as well as in independent research and written composition.


1. What is environmental economics?
2. Market failures and the environment
3.Policy instruments: regulations, charges and subsidies
4. Policy instruments: market creation & emulation
5. Monetary valuation of the environment
6. Cost-benefit analysis I
7. Cost-benefit analysis II
8. Multi-criteria analysis I
9. Multi-criteria analysis II
10. Environmental economics in action
11. Research project support surgery

Teaching methods

Delivery typeNumberLength hoursStudent hours
Private study hours128.00
Total Contact hours22.00
Total hours (100hr per 10 credits)150.00

Private study

- Preparation for lectures. Completion of analysis introduced in seminars.
- Wider reading for and writing up of assignments.

Opportunities for Formative Feedback

Feedback on student progress will be provided on each weekly session. Assessment in the module is based on a 2500 word individual project report, which amounts to 100% of the module mark.

Methods of assessment

Assessment typeNotes% of formal assessment
Report2500 words100.00
Total percentage (Assessment Coursework)100.00

Any student who fails the module will be required to prepare an individual 2500 word project report (similar to the individual project), but student will be expected to change topic to a new one.

Reading list

The reading list is available from the Library website

Last updated: 29/04/2024 16:20:31


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