Economic activity takes place within the confines of the environment and it is now increasingly recognised that ecological constraints are starting to make themselves felt. This course explores the history of concerns over carrying capacity and various approaches to its measurement; the concept of sustainability and the relationship this has to the finite nature of our planet; the feasibility and ecological coherence of conventional economic ideas of growth and some of the key insights from the physical sciences, specifically thermodynamics. In addition, it presents some of the formal economic analysis relating to the optimal use / depletion of natural resources and the basic economic theory relating to pollution externalities and the options for regulation. On successful completion of the course, students should be able to identify different categories of resources; appreciate and analyse the implications of a closed thermodynamic system for economic activity; explain the reasons for both historical and current concerns over resource limitations; discuss differing interpretations of the concept of sustainability and recognise the key implications for development; demonstrate an appreciation of the standard economic theory of natural resource economics and its limitations; and comment critically on the feasibility of 'Sustainable Development'.

10 weekly lectures of 2 hours each.

3 weeks of 2-hour tutorials.

Assessment

Reassessments are normally available for all courses, except those which contribute to the Honours classification. For non-Honours courses, students are offered reassessment in all or any of the components of assessment if the satisfactory (threshold) grade for the overall course is not achieved at the first attempt. This is normally grade D3 for undergraduate students and grade C3 for postgraduate students. Exceptionally it may not be possible to offer reassessment of some coursework items, in which case the mark achieved at the first attempt will be counted towards the final course grade. Any such exceptions for this course are described below. 

Normally, the group-based assessment listed above cannot be reassessed.

■ To explore how we should interpret the concept of sustainability and the relationship this has to the finite nature of our planet. 

■ To examine the feasibility and ecological coherence of conventional economic ideas of growth and to familiarise students with some of the key insights from the physical sciences, specifically thermodynamics.

■ To present some of the formal economic models relating to the optimal use/depletion of natural resources.

Students should be able to:

1. Analyse relevant theories and current practices within the fields of environmental economics and sustainability.

2. Apply economic theory and practice to a range of topics within the fields of environmental economics and sustainability, in relation to the UN Sustainable Development Goals.

3. Design and implement research projects within the field of environmental economics and sustainability.

4. Evaluate variety of economic policies with a particular focus on sustainability issues.

5. Perform data analysis using appropriate methods and software packages.

6. Demonstrate effective verbal communication and written skills in the field of environmental and sustainable development.

7. Collaborate with others to achieve common goals, acquiring team-working skills.

Students must submit at least 75% by weight of the components (including examinations) of the course's summative assessment.