ECON 7016 - Resource & Environmental Economics PG

North Terrace Campus - Semester 1 - 2022

This course studies the application of economic analysis to the management of the environmental and natural resources. We will consider the role of economic theory in understanding and solving environmental and resource problems and discuss empirical examinations of the theory. Policy implications will be addressed with particular attention paid to analysing practical applications of the theories in different social, economic and political environments. A key assessment component will involve students undertaking a practical analysis of a resource or environmental policy of relevance to themselves or country of origin. Topics that may be covered include: air and water pollution, sustainability, plastic bags, household energy use, renewable and non-renewable resource management (fisheries, forests, and minerals), and the impact of trade.

  • General Course Information
    Course Details
    Course Code ECON 7016
    Course Resource & Environmental Economics PG
    Coordinating Unit School of Economics
    Term Semester 1
    Level Postgraduate Coursework
    Location/s North Terrace Campus
    Units 3
    Contact Up to 3 hours per week
    Available for Study Abroad and Exchange Y
    Incompatible ECON 3500
    Assumed Knowledge ECON 7011 or ECON 7241 or C&ENVENG 1008
    Restrictions Available to MHlthEcPol, MFin&BusEc, MGlobalFood&AgricBus, GCertAppEc, GDipAppEc, MAppEc, students only
    Course Description This course studies the application of economic analysis to the management of the environmental and natural resources. We will consider the role of economic theory in understanding and solving environmental and resource problems and discuss empirical examinations of the theory. Policy implications will be addressed with particular attention paid to analysing practical applications of the theories in different social, economic and political environments. A key assessment component will involve students undertaking a practical analysis of a resource or environmental policy of relevance to themselves or country of origin. Topics that may be covered include: air and water pollution, sustainability, plastic bags, household energy use, renewable and non-renewable resource management (fisheries, forests, and minerals), and the impact of trade.
    Course Staff

    Course Coordinator: Dr Stephanie McWhinnie

    Office hour: will be posted on MyUni
    Office location: Nexus 10, Level 3, Room 3.24
    Course Timetable

    The full timetable of all activities for this course can be accessed from Course Planner.

  • Learning Outcomes
    Course Learning Outcomes
    On successful completion of this course, students will be able to:
    1 Apply economic analysis to the management of the environment and natural resources.
    2 Analyse theoretical and empirical research in environmental and natural resource economics.
    3 Prepare an analytical policy report that develops knowledge and practical implementation of relevant economic theory in understanding and addressing an environmental or natural resource issue.
    4 Demonstrate good inter-personal and communication skills through writing a policy report, giving a group presentation and contributing to critical discussion.
    University Graduate Attributes

    This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

    University Graduate Attribute Course Learning Outcome(s)

    Attribute 1: Deep discipline knowledge and intellectual breadth

    Graduates have comprehensive knowledge and understanding of their subject area, the ability to engage with different traditions of thought, and the ability to apply their knowledge in practice including in multi-disciplinary or multi-professional contexts.

    1, 2 & 3

    Attribute 2: Creative and critical thinking, and problem solving

    Graduates are effective problems-solvers, able to apply critical, creative and evidence-based thinking to conceive innovative responses to future challenges.

    1, 2 & 3

    Attribute 3: Teamwork and communication skills

    Graduates convey ideas and information effectively to a range of audiences for a variety of purposes and contribute in a positive and collaborative manner to achieving common goals.

    4

    Attribute 4: Professionalism and leadership readiness

    Graduates engage in professional behaviour and have the potential to be entrepreneurial and take leadership roles in their chosen occupations or careers and communities.

    3 & 4

    Attribute 5: Intercultural and ethical competency

    Graduates are responsible and effective global citizens whose personal values and practices are consistent with their roles as responsible members of society.

    3 & 4

    Attribute 7: Digital capabilities

    Graduates are well prepared for living, learning and working in a digital society.

    3 & 4

    Attribute 8: Self-awareness and emotional intelligence

    Graduates are self-aware and reflective; they are flexible and resilient and have the capacity to accept and give constructive feedback; they act with integrity and take responsibility for their actions.

    3, 4
  • Learning Resources
    Required Resources
    Textbook (used for approximately half of the course): Perman R., Y. Ma, M. Common, D. Maddison, and J. McGilvray (2011) Natural Resource and Environmental Economics. Fourth Edition, Pearson-Addison Wesley.

    In addition to the textbook we will be specifically referring to a selection of journal articles, these will be linked on MyUni.
    Recommended Resources
    Access to a textbook from Intermediate Microeconomics may be helpful as the content is the assumed knowledge of this course.

    There are many interesting references in this field as it is a very active and issue-driven area of economics. For your further reference you might like to consider the following journals and books, available at, or online through, the Library. I am happy to recommend further material upon request.
    • Journal of Environmental Economics and Management
    • Journal of the Association of Environmental and Resource Economists
    • Land Economics
    • Ecological Economics
    • Environment and Resource Economics
    • Australian Journal of Agricultural and Resource Economics
    • Kahn, J.R. (2005) The Economic Approach to Environmental and Natural Resources. Third Edition, Thomson South-Western
    • Pearce, D.W. and R.K. Turner (1990) Economics of Natural Resources and the Environment. Prentice Hall
    • Hartwick, J.M. and N.D. Olewiler (1998) The Economics of Natural Resource Use. Second Edition, Addison Wesley
    • Tietenberg T. (2003) Environmental and Natural Resource Economics. Sixth Edition, Addison Wesley.
    Online Learning
    All course material including lecture notes and recordings, assessment information and material, readings and announcements will be provided on MyUni. Students are expected to check there regularly.
  • Learning & Teaching Activities
    Learning & Teaching Modes
    Lectures cover the key concepts of each topic through a combination of theoretical analysis and empirical evidence. Tutorials will consolidate your understanding of course material by working through analytical problems and expand your understanding of related material through group discussion of academic journal articles. You should use the relevant sections of the textbook and other assigned readings to enhance your understanding of topics covered in the lectures and tutorials.
    Workload

    The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

    The University expects full-time students (i.e. those taking 12 units per semester) to devote a total of 48 hours per week to their studies. This translates to 12 hours per week for a semester course.
    Learning Activities Summary
    Teaching & Learning Activities Related Learning Outcomes
    Lectures - core concepts 1,2
    Tutorials - working through examples 1,2
    Tutorials - group presentations of academic articles 2,3,4
    Individual research project 1,3

    The first part of the course deals with the environment, paying particular attention to pollution and climate change. We will introduce and consider issues relating to externalities, sustainability and valuation of the environment. The second part of the course deals with models of renewable resources, with a particular focus on fisheries and forests. We will consider the domestic and international management implications of these models and discuss the empirical evidence on fisheries depletion, deforestation and management techniques.
  • Assessment

    The University's policy on Assessment for Coursework Programs is based on the following four principles:

    1. Assessment must encourage and reinforce learning.
    2. Assessment must enable robust and fair judgements about student performance.
    3. Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
    4. Assessment must maintain academic standards.

    Assessment Summary
    Assessment Task Due Date/ Week Weight Length (Word,Time) Learning Outcomes
    Tutorial Assignments (best 4 out of 5) Weeks TBA 20% TBA 1
    Group Presentation Week TBA 10% TBA 1 - 4
    Active Tutorial Participation Weeks TBA 5% N/A 2,4
    Peer Assessment Week 9 5% TBA 4
    Research Project Week 10 20% TBA 1 - 4
    Final Exam Week TBA 40% 3 hours 1,2
    Total 100%
    Assessment Related Requirements
    Legible hand-writing and the quality of English expression are considered to be integral parts of the assessment process, and may affect marks.
    Assessment Detail
    Assignments: The five assignments will include a mix of question types including: analytical and numerical problems; and short answer and essay questions. Only your best four out of five assignments will count towards your grade.

    Group Presentation: Each tutorial section will be broken into small groups of students, each group will together be responsible for giving one 15-20 minute critical presentation of an academic journal article. A detailed assessment outline and criteria will be given in class and on MyUni.

    Tutorial Participation: Participation in discussion of analytical problems and the articles presented by other groups is important to aid development of critical analysis skills.

    Peer Review: The objective of the peer review is to develop skills in providing constructive comments to your peers and to provide an opportunity to receive and respond to feedback on a draft. A detailed assessment outline and criteria will be given at the start of the course.

    Research Project: The objective of the consultancy report is to develop a well-constructed 2000-word report that demonstrates your capacity to apply relevant economic theory and other material to understanding and addressing an environmental or natural resource issue. A detailed assessment outline and criteria will be given at the start of the course.

    Final Exam: The three-hour final exam will include analytical and numerical problems, and short answer and essay questions.
    Submission
    All assignments and reports are to be submitted as directed on the due dates. Should you wish to hand your assessment in late, it will be accepted but will be subject to a 20% penalty per day late (i.e. up to 24 hours late = 20% penalty, 24 to 48 hours late = 40% penalty, ... 96 to 120 hours late = 100% penalty). Late peer reviews will not be accepted. Lateness due to medical or compassionate reasons, supported by appropriate documents, will not be subject to penalty.

    It is intended that all assessment will be returned within two weeks.
    Course Grading

    Grades for your performance in this course will be awarded in accordance with the following scheme:

    M10 (Coursework Mark Scheme)
    Grade Mark Description
    FNS   Fail No Submission
    F 1-49 Fail
    P 50-64 Pass
    C 65-74 Credit
    D 75-84 Distinction
    HD 85-100 High Distinction
    CN   Continuing
    NFE   No Formal Examination
    RP   Result Pending

    Further details of the grades/results can be obtained from Examinations.

    Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

    Final results for this course will be made available through Access Adelaide.

    Additional Assessment
    If a student receives 45-49 for their final mark for the course they will automatically be granted an additional assessment. This will most likely be in the form of a new exam (Additional Assessment) and will have the same weight as the original exam unless an alternative requirement (for example a hurdle requirement) is stated in this semester’s Course Outline. If, after replacing the original exam mark with the new exam mark, it is calculated that the student has passed the course, they will receive 50 Pass as their final result for the course (no higher) but if the calculation totals less than 50, their grade will be Fail and the higher of the original mark or the mark following the Additional Assessment will be recorded as the final result.
  • Student Feedback

    The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

    SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.

    A summary of and response regarding past SELTs for this course is available on MyUni.
  • Student Support
  • Policies & Guidelines
  • Fraud Awareness

    Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.

The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.