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.

6 weeks of 1-hour tutorials.

1. Written assignment, including essay; Group; 2000 words; 25%; ILOs 1-2, 4-7.
2. Degree exam: online; Individual; 120 minutes; 75%; ILOs 1, 3-4, 6.

It is the default expectation that all courses will offer opportunities for reassessment or deferred assessment. Where it is not possible to offer this in some assessment components, the grade achieved at the first attempt will be counted towards the final course grade, and any exceptions for this course are described below.

[No exceptions]

■ 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.