Syllabus (ECONOMICS)

Course Type: MAJ-14

Semester: 8

Course Code: BECOMAJ14T

Course Title: Environmental and Resource Economics

(L-P-Tu): 5-0-1

Credit: 6

Practical/Theory: Theory

Course Objective:

Learning Outcome: Course Objective: This course is prepared to give a concrete foundation on environment economics. Environmental problems with the progress of economic activity will create ideas for the students about the path of sustainable development of the countries.

Environmental Economics: Concepts; Review of Microeconomics and Welfare Economics; Theory of Externalities, Pareto Optimality and Market Failure; Property Rights and the Coase Theorem (10)

1. Environmental Policy: Design and Implementation; Pigouvian Taxes and Effluent Fees; Tradable Permits; Transaction Costs (10)
2. Environmental Problems: Trans-boundary Environmental Problems; Economics of Climate Change; Partial Equilibrium Model of Trade and Environment (10)
3. Valuation and Evaluation: Measurement with Cost-Benefit Analysis of Environmental Improvements; Non-Market values and measurement methods; risk assessment and perception. Concepts of Sustainable Development; MDG (10)
4. Resource Economics: Ecological Economics; Environmental Macroeconomics; Energy-Economy-Environment Model; Natural Resource Accounting; Renewable and Non-renewable Resources (10)
5. Ecological Economics: Interdisciplinary Issues; Ethical Aspects; Energy, Value, Ecology and Economics (5)
6. Environmental Models: Input-Output Analysis; General Equilibrium Model; Game Theory; Decomposition Methodology (5)

Reading References:

►Rabindra N. Bhattacharya, 2002, Environmental Economics: An Indian Perspective, Oxford India Paperbacks.

►Jeroean C.J.M. van den Bergh, 1999, Handbook of Environmental and Resource Economics, Edward Elgar Publication.

►Charles Kolstad, 2010, Intermediate Environmental Economics, Oxford University Press, 2^nd edition.

► Robert N. Stavins, 2005, Economics of the Environment: Selected Readings, W.W. Norton, 5^th edition.

► Roger Perman, Yue Ma, James McGilvray and Michael Common, 2003, Natural Resource and Environmental Economics, Pearson Education/Addison Wesley, 3^rd edition.
► Maureen L. Cropper and Wallace E. Oates, 1992, Environmental Economics: A Survey Journal of Economic Literature, Volume 30:675-740.

►Ulaganathan Sankar, 2001, Environmental Economics, Oxford India Paperbacks.

►Katar Sing and Anil Shishodia, 2007, Environmental Economics: Theory and Applications, Sage Publications.

►Pranab Mukhopadhyay, Nandan Nawn, Kalyan Das, 2017, Global Change, Ecosystems, Sustainability: Theory, Methods, Practice, SAGE Publication India.

►Jon M. Conrad, 2010, Resource Economics, Cambridge University Press, 2^nd Edition, ISBN: 9780521697675.

►Steven C. Hacket, 1997, Environmental and Natural Resource Economics, Taylor & Francis, ISBN: 9780765601094.

► N. Ghosh, P. Mukhopadhyay, A. Shah and M. Panda, 2016, Nature, Economy and Society: Understanding and Linkages, Springer Publications.

► J. Bandyopadhyay, K. Chopra and N. Ghosh, 2012, Environmental Governance: Approaches, Imperatives and Methods, Bloomsbury Publication.

►Conrad, J.M. and Clark, C.W., 1987, Natural Resource Economics: Notes and Problems, Cambridge University Press.