EFB226 Environmental Economics and Policy
To view more information for this unit, select Unit Outline from the list below. Please note the teaching period for which the Unit Outline is relevant.
| Unit code: | EFB226 |
|---|---|
| Equivalent(s): | EFX226 |
| Credit points: | 12 |
| Timetable | Details in HiQ, if available |
| Availabilities |
|
| CSP student contribution | $2,124 |
| Pre-2021 CSP student contribution | $1,663 The pre-2021 commonwealth supported place (CSP) contribution amount only applies to students enrolled in a course prior to 2021. To learn more, visit our Understanding your fees page. |
| Domestic tuition unit fee | $3,204 |
| International unit fee | $4,512 |
Unit Outline: Semester 1 2025, Gardens Point, Internal
| Unit code: | EFB226 |
|---|---|
| Credit points: | 12 |
| Equivalent: | EFX226 |
| Coordinator: | Clevo Wilson | clevo.wilson@qut.edu.au |
Overview
The objective of the unit is to introduce students to some of the current environmental and natural resource issues confronting society and how planners and decision-makers could better understand and address these problems using economics. The unit demonstrates why economics matters more to environmental and natural resources policy and how the approach taken in this unit is free of the constraints of orthodox economics. The unit also explores what would happen when environmental considerations get left out of economics and what happens when economics gets left out of environmental policy-making and resource management decisions. The unit would benefit those who wish to work in government, the private sector or for a non-governmental organisation.
Learning Outcomes
On successful completion of this unit you will be able to:
- Identify and analyse key environmental issues facing societies within an economic framework incorporating interdisciplinary work. [KS 1.1, HO 2.1]
- Propose appropriate responses to reduce or solve key environmental issues facing society using market and non market instruments and techniques. [HO 2.1, 2.2]
- Identify and analyse various obstacles to providing economic solutions to environmental problems. [KS 1.1, HO 2.1]
- Use information literacy skills, and communicate effectively and professionally in oral and written forms. [PC 3.1, 3.2]
Content
The unit is divided into two parts. Part I explores some important concepts/techniques in economics and illustrates why they matter for environmental issues. Part II deals with how economics can help us to understand the causes of a series of important problems, and more importantly, to understand how best we can manage them.
Part I (Economic Theory/Tools - 7 lectures)
Economics and the Living Environment: Two Parts of a Whole (1 lecture); Economic growth and sustainable development (1 lecture); Markets for the environment (1 lecture); Regulation and instruments of pollution control and environmental conservation (1 lecture); Valuing the Environment and Natural Resources (1 lecture); Environmental Cost-Benefit Analysis (1 lecture).
Part II (Applying Theory - 6 lectures)
Energy: The Transition from depletable to renewable resources (1 lecture);Urban Water Conservation and Management (1 lecture); Transport and the Environment (1 lecture); Economics of Climate Change (1 lecture); Is More Really Better? Consumption and Welfare (1 lecture); Poverty, Population and the Environment (1 lecture); Epilogue: What happens when the environment gets left out of economics and what happens when economics gets left out of the environment (1 lecture).
QUT Business Capabilities (Undergraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
2.2 Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
The unit will be delivered in weekly three-hour blocks, two hours of which will typically take the form of a lecture presentation. Relevant readings for each week will be placed on the Course Materials Database (CMD). Tutorial sessions will be conducted from week 2. Assessment 1 will be in the form of a podcast presentation and a written abstract. Podcast presentation topics will be provided by the lecturer at the beginning of the semester. Students can submit their podcast presentation between Week 4 and Week 13. The podcast and abstract that follows will be given a mark and weighted at 20%. This will be followed by an essay on a topic assigned by the lecturer at the beginning of the semester. This is worth 30%. The rest of the marks (50%) will be from the final examination. The exam will consist of a mixture of both theoretical and practical questions. All materials covered during the semester will be examinable.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment in this unit aims to support your achievement of the unit learning outcomes and course assurance of learning goals. The assessment has been designed in order to allow you to:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment);
- demonstrate your learning in order to achieve a final grade (summative assessment).
Students may be required to attend campus or an assessment centre for the purposes of assessment, regardless of the attendance mode for the unit.
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Oral (podcast) Presentation and Abstract
Oral presentation during tutorials and abstract writing.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1, 2.2), PC (3.2)
Assessment: Assignment
Only one assignment topic.
This is an assignment for the purposes of an extension.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1, 2.2), PC (3.1)
Assessment: End of Semester Examination
In this exam students will be required to answer two essay type questions (each worth 25%).
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1, 2.2)
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
Resources
Resource Materials
Prescribed text(s)
Nick Hanley, Jason Shogren, and Ben White (2019). Introduction to Environmental Economics,Third Edition, Oxford University Press.
Recommended text(s)
Callan and Thomas - Environmental Economics and Management: Theory, Policy, and Applications, 6th ed, Cengage.
Hanley, N., Shogren, J. and White, B. (1997). Environmental Economics: In theory and Practice, Macmillan Press.
Hanley, N., Shogren, J. and White, B. (2001). Introduction to Environmental Economics, Oxford University Press
Miller, T. (2007). Introducing Sustainability, Thomson, Custom Publishing.
Renwick, M and Archibald, S. (1998). Demand side management policies for residential water use: who bears the conservation burden?, Land Economics, 74 (3): 343-359.
Robinson, T. (2007). Work, leisure and the environment. The vicious circle of overwork and over consumption, Edward Elgar
Several other textbooks and journal articles will also be used in this unit. The references will be provided during each lecture.
Tietenberg, T. and Lewis, L. (2009). Environmental and Natural Resource Economics, Eight Edition, Pearson International Edition.
Turner, K., Pearce, D. and Bateman, I. (1994). Environmental Economics: An Elementary Introduction, Harvester Wheatsheaf.
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to
view the Emergency video.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
Engineers Australia Stage 1 Competency Standard for Professional Engineer
3: Professional and Personal Attributes
Relates to: End of Semester Examination
Relates to: Oral (podcast) Presentation and Abstract
Relates to: End of Semester Examination
QUT Business Capabilities (Undergraduate)
HO (2.1): Critical Analysis
Relates to: ULO1, ULO2, ULO3, Oral (podcast) Presentation and Abstract, Assignment
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO2, Oral (podcast) Presentation and Abstract, Assignment
KS (1.1): Discipline Knowledge
Relates to: ULO1, ULO3, Oral (podcast) Presentation and Abstract, Assignment
PC (3.1): Professional Communication (Written)
Relates to: ULO4, Assignment
PC (3.2): Professional Communication (Oral)
Relates to: ULO4, Oral (podcast) Presentation and Abstract
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, ULO3, Oral (podcast) Presentation and Abstract, Assignment - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, ULO2, ULO3, Oral (podcast) Presentation and Abstract, Assignment - Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Relates to: ULO2, Oral (podcast) Presentation and Abstract, Assignment - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO4, Assignment - Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Relates to: ULO4, Oral (podcast) Presentation and Abstract
Unit Outline: Semester 1 2025, Online
| Unit code: | EFB226 |
|---|---|
| Credit points: | 12 |
| Equivalent: | EFX226 |
Overview
The objective of the unit is to introduce students to some of the current environmental and natural resource issues confronting society and how planners and decision-makers could better understand and address these problems using economics. The unit demonstrates why economics matters more to environmental and natural resources policy and how the approach taken in this unit is free of the constraints of orthodox economics. The unit also explores what would happen when environmental considerations get left out of economics and what happens when economics gets left out of environmental policy-making and resource management decisions. The unit would benefit those who wish to work in government, the private sector or for a non-governmental organisation.
Learning Outcomes
On successful completion of this unit you will be able to:
- Identify and analyse key environmental issues facing societies within an economic framework incorporating interdisciplinary work. [KS 1.1, HO 2.1]
- Propose appropriate responses to reduce or solve key environmental issues facing society using market and non market instruments and techniques. [HO 2.1, 2.2]
- Identify and analyse various obstacles to providing economic solutions to environmental problems. [KS 1.1, HO 2.1]
- Use information literacy skills, and communicate effectively and professionally in oral and written forms. [PC 3.1, 3.2]
Content
The unit is divided into two parts. Part I explores some important concepts/techniques in economics and illustrates why they matter for environmental issues. Part II deals with how economics can help us to understand the causes of a series of important problems, and more importantly, to understand how best we can manage them.
Part I (Economic Theory/Tools - 7 lectures)
Economics and the Living Environment: Two Parts of a Whole (1 lecture); Economic growth and sustainable development (1 lecture); Markets for the environment (1 lecture); Regulation and instruments of pollution control and environmental conservation (1 lecture); Valuing the Environment and Natural Resources (1 lecture); Environmental Cost-Benefit Analysis (1 lecture).
Part II (Applying Theory - 6 lectures)
Energy: The Transition from depletable to renewable resources (1 lecture);Urban Water Conservation and Management (1 lecture); Transport and the Environment (1 lecture); Economics of Climate Change (1 lecture); Is More Really Better? Consumption and Welfare (1 lecture); Poverty, Population and the Environment (1 lecture); Epilogue: What happens when the environment gets left out of economics and what happens when economics gets left out of the environment (1 lecture).
QUT Business Capabilities (Undergraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
2.2 Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
The unit will be delivered in weekly three-hour blocks, two hours of which will typically take the form of a lecture presentation. Relevant readings for each week will be placed on the Course Materials Database (CMD). Tutorial sessions will be conducted from week 2. Assessment 1 will be in the form of a podcast presentation and a written abstract. Podcast presentation topics will be provided by the lecturer at the beginning of the semester. Students can submit their podcast presentation between Week 4 and Week 13. The podcast and abstract that follows will be given a mark and weighted at 20%. This will be followed by an essay on a topic assigned by the lecturer at the beginning of the semester. This is worth 30%. The rest of the marks (50%) will be from the final examination. The exam will consist of a mixture of both theoretical and practical questions. All materials covered during the semester will be examinable.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment in this unit aims to support your achievement of the unit learning outcomes and course assurance of learning goals. The assessment has been designed in order to allow you to:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment);
- demonstrate your learning in order to achieve a final grade (summative assessment).
Students may be required to attend campus or an assessment centre for the purposes of assessment, regardless of the attendance mode for the unit.
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Oral (podcast) Presentation and Abstract
Oral presentation during tutorials and abstract writing.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1, 2.2), PC (3.2)
Assessment: Assignment
Only one assignment topic.
This is an assignment for the purposes of an extension.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1, 2.2), PC (3.1)
Assessment: End of Semester Examination
In this exam students will be required to answer two essay type questions (each worth 25%).
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1, 2.2)
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
Resources
Resource Materials
Prescribed text(s)
Nick Hanley, Jason Shogren, and Ben White (2019). Introduction to Environmental Economics,Third Edition, Oxford University Press.
Recommended text(s)
Callan and Thomas - Environmental Economics and Management: Theory, Policy, and Applications, 6th ed, Cengage.
Hanley, N., Shogren, J. and White, B. (1997). Environmental Economics: In theory and Practice, Macmillan Press.
Hanley, N., Shogren, J. and White, B. (2001). Introduction to Environmental Economics, Oxford University Press
Miller, T. (2007). Introducing Sustainability, Thomson, Custom Publishing.
Renwick, M and Archibald, S. (1998). Demand side management policies for residential water use: who bears the conservation burden?, Land Economics, 74 (3): 343-359.
Robinson, T. (2007). Work, leisure and the environment. The vicious circle of overwork and over consumption, Edward Elgar
Several other textbooks and journal articles will also be used in this unit. The references will be provided during each lecture.
Tietenberg, T. and Lewis, L. (2009). Environmental and Natural Resource Economics, Eight Edition, Pearson International Edition.
Turner, K., Pearce, D. and Bateman, I. (1994). Environmental Economics: An Elementary Introduction, Harvester Wheatsheaf.
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to
view the Emergency video.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
Engineers Australia Stage 1 Competency Standard for Professional Engineer
3: Professional and Personal Attributes
Relates to: End of Semester Examination
Relates to: Oral (podcast) Presentation and Abstract
Relates to: End of Semester Examination
QUT Business Capabilities (Undergraduate)
HO (2.1): Critical Analysis
Relates to: ULO1, ULO2, ULO3, Oral (podcast) Presentation and Abstract, Assignment
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO2, Oral (podcast) Presentation and Abstract, Assignment
KS (1.1): Discipline Knowledge
Relates to: ULO1, ULO3, Oral (podcast) Presentation and Abstract, Assignment
PC (3.1): Professional Communication (Written)
Relates to: ULO4, Assignment
PC (3.2): Professional Communication (Oral)
Relates to: ULO4, Oral (podcast) Presentation and Abstract
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, ULO3, Oral (podcast) Presentation and Abstract, Assignment - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, ULO2, ULO3, Oral (podcast) Presentation and Abstract, Assignment - Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Relates to: ULO2, Oral (podcast) Presentation and Abstract, Assignment - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO4, Assignment - Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Relates to: ULO4, Oral (podcast) Presentation and Abstract