Course Outline : Environmental and Natural Resource Economics
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African Economic Research consortium
This course reviews the origins and evolution of natural and environmental resource economics. It describes and studies the application of economic principles and analytical methods for sustainable development of natural resources. Sources of inefficiency and causes of environmental degradation are examined. An introduction to the concepts and methods underlying the design and implementation of environmental policies are provided. Economic valuation of natural and environmental resources is introduced. Natural resources (e.g. land, water, soil and air) provide a fundamental input to production in the sense that it may be physically impossible to produce welfare enhancing output, without using natural resources as inputs. In this course, an attempt is made to connect sustainable environment and natural resources management with sustainable welfare. The course aims at preparing students for the more technically advanced courses in environmental and natural resources economics. To make this course accessible to a wide variety of students, the presentation is overall non-technical.