SYLLABUS ENVIRONMENT ECONOMICS

Environment Economics

B.A. (HONS) Business Economics Semester VI – Paper XXI                     Environmental Economics

Guidelines for paper XXI ENVIRONMENTAL ECONOMICS formulated following the meeting held on 25^th November 2009 for the sixth semester of 2009-2010

Unit 1 Environment & Development                                                                            (15 marks)

A.      Sustainable Economic Development

B.      Concept of  Sustainable Development

Readings: Perman et al: Natural Resources and Environmental Economics, Second Edition, Longman Publication, 1999. Chapter 2 & Chapter 3                                                                      

Unit 2 Externalities & Market Failure                                                                        (15 marks)

a.       Concept of externalities, Public Goods and Market Failure

b.       Economic Instruments

Readings: Perman et al: Natural Resources and Environmental Economics, Second Edition, Longman Publication, 1999. Chapter 6 & Chapter 12

Note: Sections 12.6, 12.7 and the matrix given on pg 324 may be excluded.                                

Unit 3 Economic Valuation                                                                                             (10 marks)

1.       Contingent Valuation Technique

2.       Travel Cost Method

3.       Hedonic Pricing

4.       Household Production Method- Defensive Expenditure

Readings:      i) Perman et al: Natural Resources and Environmental Economics, Second Edition, Longman Publication,1999. Chapter 14 (please exclude pg 394-396 and all boxes and tables) & include pg 402 (total WTP) and 405-412 (WTP OR WTA)

ii) Charles D. Kolstad: Environmental Economics, 2000- Oxford University Press. Chapter 17 – pages 337-341

Unit 4 Environmental Accounting                                                                 (10 marks)

Readings:              i) Ravindra N. Bhattacharya, (Edited): Environment Economics – An Indian Perspective, OUP, 2001- chapter 5 pg 170-172 and 179-188

ii) Perman et al: Natural Resources and Environmental Economics, Longman Publication, 1996 (First Edition) – chapter 14 – pg 362-372            

Unit 5 Environmental Regulation and Policies                                                        (10 marks)

a.       Environmental Regulation and Policies(Indian Context) – Ch 3 Ravindra N. Bhattacharya, (Edited): Environment Economics – An Indian Perspective, OUP, 2001

b.       Global Environmental Issues in particular reference to Climate Change

Readings:              i) Ravindra N. Bhattacharya, (Edited): Environment Economics – An Indian Perspective, OUP, 2001- chapter 3 pg 100-119

ii) Perman et al: Natural Resources and Environmental Economics, Longman Publication, 1999 (Second Edition) – chapter 13 – pg 337-346

iii) R. Kerry Turner, David Pearce and Ian Bateman: Environmental Economics:- An Elementary Introduction (1994) Harvester Wheat sheaf-     chapter 19 pg 267-279

Note:  Non mathematical is recommended