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PP5414
FOUNDATIONS OF SUSTAINABLE DEVELOPMENT AND ENVIRONMENTAL ECONOMICS
2014/2015, Semester 1
Lee Kuan Yew School of Public Policy (Lee Kuan Yew School Of Public Policy)
Modular Credits: 4
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Learning Outcomes
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Consideration of environmental sustainability is a vital part of policy making. This module provides a comprehensive coverage of sustainable development and is structured on the following premises:
(1) The natural environment is the core of any economy and economic sustainability cannot be attained without environmental sustainability; and
(2) Sustainable development requires the maintenance of a steady stock of environmental capital.
The module is designed to enable graduates to work in multidisciplinary teams, to understand the sustainable development perspective and to be able to critique policy and practice. The module has a constructive alignment between outcomes, activities, and assessment tasks set at a postgraduate level.
The module integrates key concepts of economics and science that define environmental sustainability. These include: entropy law of thermodynamics, assimilative capacity of ecological systems and economic equilibrium.
Prerequisites
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NIL
The module is structured on the premise that participants have no prior knowledge of economics
PRECLUSIONS: PP5269 Environmental Economics and Policy
Teaching Modes
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Lectures
Seminars
Break-Out Sessions
Computer Lab Exercise
Schedule
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Date
Topic
Basic Reading
Lecturer
14-Aug-14
Environment and the Economy
Chapter-1
Dodo
21-Aug-14
Laws of Thermodynamics and the Economy
Chapter-2
Dodo
28-Aug-14
Markets - Demand and Supply and Costs
Chapter-3
Seck
4-Sep-14
Market Failure, Property Rights
Chapter-4
Seck
11-Sep-14
Extensions of Market Analyses
Chapters 5
Seck
18-Sep-14
Extensions of Market Analyses
Chapters 6
Seck
25-Sep-14
Mid-Semester Break
2-Oct-14
Macroeconomics and the Environment
Chapters 10
Dodo
9-Oct-14
Macroeconomics and the Environment
Chapter 11
Dodo
16-Oct-14
Environmental Macroeconomic Modelling
Chapter-12
Dodo
23-Oct-14
Valuation of Environmental Goods and Services
Chapters 16-17
Dodo
30-Oct-14
Group Assignment Analyses
Dodo
6-Nov-14
Class Presentations
Dodo
13-Nov-14
POLICY
Chapter 18
Dodo
Syllabus
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1. THE ENVIRONMENTAL CAPITAL AND THE ECONOMY
1.1 The Environmental Capital in the History of Economic Thought
1.2 Laws of Thermodynamics and the Environmental Capital
2. THE MARKET AND THE ENVIRONMENTAL CAPITAL
2.1 The Market Model and Property Rights
2.2 Environmental Goods and Market Failure
3. THE EXTENSIONS OF MICROECONOMIC ANALYSIS
3.1 Management of Nonrenewable Resources
3.2 Management of Renewable Resources
3.3 Management of Nonrenewable Resources with Renewable Services
4. MACROECONOMICS AND THE ENVIRONMENTAL CAPITAL
4.1 The Basis for Environmental Accounting
4.2 An Aggregate Approach to Environmental Capital
4.3 An Introductory Model of Environmental Macroeconomics
4.4 Macroeconomic Policies for the Environment
5. THE VALUATION OF ENVIRONMENTAL GOODS AND SERVICES
5.1 Methods based on Demand Concepts
5.2 Methods based on Supply (Opportunity Cost) Concepts
6. POLICY ANALYSIS
6.1 Microeconomic Policies
6.4 Macroeconomic Policies
Assessment
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Grades in this course will be determined by
three assignments, and an examination.
The distribution of grades is as follows.
Component
Marks (%)
Deadline
Assignment-1
15
31 August 2014
Assignment-2
15
28 September 2014
Assignment-3
20
02 November 2014
Examination
50
TBA