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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

TopConsideration 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

TopNIL
The module is structured on the premise that participants have no prior knowledge of economics

PRECLUSIONS: PP5269 Environmental Economics and Policy

Teaching Modes

TopLectures
Seminars
Break-Out Sessions
Computer Lab Exercise

Schedule

Top
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

Top 
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

TopGrades 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
 
 

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