Course Details

Subject {L-T-P / C} : HS5414 : Environmental Economics { 3-0-0 / 3}

Subject Nature : Theory

Coordinator : Prof. Bikash Ranjan Mishra

Syllabus

Modules:

Unit-1 – Meaning, Definition, and Scope of Environmental Economics, Environmental Economics vs. Traditional Economics, Rational of Environmental Economics, Evolution and Growth of Environmental Economics, Environmental Problems and Generic Approach to Solving Environmental Problems, Environment and Economy, Tracing Environmental Inputs into the Economy, Environment and Economic Growth, and Environment and Development.

Unit-2 - Environmental Goods – Characteristics, Consumption and Demand, Production and Supply, Marginal Analysis, Markets and Market Failures, Government Intervention and Public Policy Failure, Concepts and Theories – Social Benefits, Cost, and Welfare Function, Pareto Principle, Compensation Principle, Hardin’s Thesis, Prisoners’ Dilemma Game, Olson’s Theory of Collective Action, Methods of Abatement of Externalities, Optimal Stationary Policy for Renewable Resources, Social Cost Benefit Analysis, Cost-Effectiveness Analysis.

Unit-3 – Environmental Valuation – Meaning and Types, Measures of Economic Values, Valuation of Intangible Benefits of the Environment, Environmental Accounting – Historical Development of National Accounts in India, Genesis of Environmental Accounting, Salient Features of SEEA, Forest Resource Accounting – A Case Study, Integration of Environmental Accounts into the System of National Accounts, Environmental Management – A Conceptual Framework, Action System for Environment Management, Forms of Government Intervention.

Unit-4
i) Land and Environment – Nature and Extent of Land Degradation, Economic Logic of Land Degradation, Alternatives for Restoration of Degraded Lands and Improving the Environment, Water and Environment – Current Status of Water Resources, Water-Related Problems and Improving the Environment, Forests, and Environment – Role of Forests in India’s Economy, Deforestation and Degradation of Forests and their Environmental Consequences, Socially Optimal Level of Exploitation of Forests, Alternatives for Mitigating the Problems of Degradation and Depletion of Forest Resources, Fisheries, and Environment - Types and Extent of Fishery Resources, Problems of Fisheries and their Underlying Causes, Determining Optimum Level of Harvesting of Marine Fish, Instruments of Managing Fisheries, Policies and Programs for Fishery Development
ii) Biodiversity Conservation and Environment – Functions of Ecosystem and Biodiversity, Identification and Valuation of Benefits from Biodiversity Conversation, Causes of Loss of Biodiversity and Consequences, Determining Local and Global Optimum Levels of Biodiversity Conservation, Instruments of Biodiversity Conservation, Biodiversity Conservation Policy and Programs of India.
iii) Climate Change and Environment – Acid Rain, Global Warming, Ozone Depletion, Climatic Aberrations.
iv) Environment Management Policy - Need for an Environment Policy, Vision, Goals and Objectives, Management Systems for Environment Policy, Instruments of Environment Policy, Enlisting Stakeholders’ Participation, Institutional Mechanism for Integration, A Critique of India’s Environment Policy.

Course Objectives

Course Outcomes

CO1: It enhances students’ knowledge in the field of environmental economics. <br />CO2: It brings students’ interest in the modern body of environmental literature. <br />CO3: It enables students to improve conceptual understanding of numerous developmental issues. <br />CO4: It increases the ethical value of students towards the protection of environmental quality.

Essential Reading

Supplementary Reading