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721334S Environmental Economics, 6 ECTS cr 
Code 721334S  Validity 01.01.1950 -
Name Environmental Economics  Abbreviation Environmental E 
Scope6 ECTS cr   
TypeAdvanced Studies Discipline6311 Economics 
TypeCourse   
  Grading1 - 5, pass, fail 
 
   
Unit Oulu Business School 

Teachers
Name
Huuki Hannu 

Description
ECTS Credits 

6 credits

 
Language of instruction 

English

 
Timing 

Period 4 (year 2020)

 
Learning outcomes 

Student is able to graphically and mathematically describe the socially optimal level of pollution and define the efficiency conditions of the crucial policy instruments of pollution control. Moreover, student identifies comparative merits of different policy instruments. He/she can apply the most important methods for monetary valuation of environmental benefits and empirically examine the demand of environmental commodities. In addition, student is able to formally present the models describing optimal use of natural resources and apply these models in practical decision making. Students are also able to act professionally in teams, express their ideas analytically and effectively both in written and oral form.

 
Contents 

Sustainability problem, externalities, socially optimal pollution level, command-and-control regulation of pollution, pollution taxes, marketable permits, climate, change economics, demand for environmental commodities, environmental valuation methods. Regarding natural resources, the course covers topics on the optimal use of minerals (the Hotelling rule), the problem of open access in fishery, and forest rotation models.

 
Mode of delivery 

Face-to-face teaching.

 
Learning activities and teaching methods 

Sustainability problem, externalities, socially optimal pollution level, command-and-control regulation of pollution, pollution taxes, marketable permits, climate, change economics, demand for environmental commodities, environmental valuation methods. Regarding natural resources, the course covers topics on the optimal use of minerals (the Hotelling rule), the problem of open access in fishery, and forest rotation models.

 
Target group 

First year Master’s students.

 
Prerequisites and co-requisites 

 

 
Recommended optional programme components 

 

 
Recommended or required reading 

Perman, Ma, Common, Maddison & Mcgilvray (2011). Natural Resource and Environmental Economics (4th Ed or newer). (The required sections of the books and the other material will be informed later.)   

 
Assessment methods and criteria 

Lecture specific problem questions, final essay and exercises. 

 
Grading 

The course utilizes a numerical grading scale 1-5. In the numerical scale zero stands for a fail.

 
Person responsible 

Professor Artti Juutinen and Doctoral student Enni Ruokamo.

 
Working life cooperation 

Students improve their skills regarding the use of software that are widely applied in working life (MsExell, MsWord, MsPowerPoint). Students also improve their presentation and co-operation skills.

 


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