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Indian Institute of Technology Madras

Environmental & Resource Economics

Indian Institute of Technology Madras and NPTEL via Swayam

Overview

This course is designed to guide students through the frontier areas of environmental economics. We begin by studying interaction between economy and the environment. Then we try to understand the welfare implication of national income and discuss the issues of sustainable development. We examine the impact of economic growth on environmental degradation. The issues of externalities and methods to regulate externalities are discussed next. We then examine the impacts of uncertainty and information asymmetry on the choice of policy instruments for regulating externalities. We then try to understand the methods for economic valuation of environmental goods and services. We end the course by discussing the optimal extraction strategy for renewable and non-renewable resources. After successful completion of the course students will understand issues related to environmental degradation and optimal resource extraction. In an era of corporate social responsibility, this course will be highly useful in industry and academia.INTENDED AUDIENCE : Anyone interested to understand the issues related environmental degradation and policy makingPRE REQUISITE :Principles of economics/microeconomicsSUPPORTED INDUSTRIES : Manufacturing, Oil & Gas, Mining

Syllabus

Module 1:Interaction between economy and the environment Module2:Welfare implication of national income and sustainable development
Module3:Economic growth and environmental degradation: Environmental Kuznets Curve (EKC) hypothesis Module4:Externalities and market failure
Module5:Incentive design
Module6:Environmental regulation and competitiveness
Module7:Environmental efficiency and cost of pollution control
Module8:Theory and methods for environmental valuation Module9:Optimal extraction of renewable and non-renewable resources

       

Taught by

Prof. Sabuj Kumar Mandal

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