KUK - LMS

Syllabus

MODULE NO / UNIT	COURSE SYLLABUS CONTENTS OF MODULE	NOTES
Course Code: M-BECOE -037 Course Name: Group - III Resources Economics) - Economics Envirornment & Social Sector-I
1	Market Efficiency and Market Failure Environment, ecology and economy; Pareto optimality and perfect competition; External effects in production and consumption; Market failure in case of environmental goods - incomplete markets, externalities, non-exclusion; non-rivalry; non-convexities and asymmetric information. Reading List • Bhattacharya, Rabindra Nath (2002). Environmental Economics: An Indian Perspective. Oxford India. • Hanley, N., Shogern, J.F. & White, B. (1997). Environmental Economics in Theory and Practice. Macmillan. • Henderson, J. M. & Quandt, R.E. (2003).Microeconomic Theory: A Mathematical Approach, McGraw Hill, New Delhi. • Koutsoyiannis, A. (1979). Modern Microeconomics, Macmillan Press, London.
2	Environment Policy and Regulations Environmental policy framework in India - problems of command & control regime; New Environment Policy. Natural resources: types, classification and scarcity; Elementary capital theory; Economics of natural resources. Reading List • Bhattacharya, Rabindra Nath (2002).Environmental Economics: An Indian Perspective. Oxford India. • Chary, S.N. and Vyasulu, Vinod (2000).Environmental Management - an Indian Perspective. Macmillan, New Delhi. • Hanley, N., Shogern, J.F. & White, B. (1997). Environmental Economics in Theory and Practice. Macmillan. • Sankar, U. (Ed.). (2001). Environmental Economics. Oxford University Press, New Delhi. • Ministry of Environment & Forest Website.
3	Environment Protection Instruments Economic instruments for environmental protection: Pollution charges, ambient charges, product charges, subsidies; Liability rules - non-compliance fees, deposit refund system, performance bonds; Marketable pollution permits; Evaluative criteria of and practical conditions for use of the economic incentives; Mixed instruments; Choice among policy instruments; Estimation of marginal cost of pollution abatement for designing the pollution tax. Reading List • Hanley, N., Shogern, J.F. & White, B. (1997). Environmental Economics in Theory and Practice. Macmillan. • Hussen, A.M. (1999). Principles of Environmental Economics. Routledge, London. • James, A.J., Murty, M. N. & Misra, Smita (1999). Economics of Water Pollution – The Indian Experience. Oxford University Press, New Delhi. • Jeroen. C.J.M. &Bergh, Van Den (1999).Handbook of Environmental and Resource Economics. Edward Elgar Publishing Ltd., U.K. • Painuly, J. P.(1995). Economic Instruments: Application to Environmental Problems (Working paper no 3). Risø National Laboratory, UNEP Risø Centre. UNEP Collaborating Centre on Energy and Environment, Denmark. • Pearce, D.W. & Turner R. (1991). Economics of Natural Resource Use and Environment. John Hopkins University Press, Baltimore. • Sankar, U. (Ed.). (2001). Environmental Economics. Oxford University Press, New Delhi.
4	Valuation of Environmental Costs and Benefits Coase’s bargaining solution and collective action. Measures of economic value of environment WTP and WTAC; Contingent valuation method; Travel cost method; Hedonic market methods; Averting behaviour approach - household health production function method. Reading List • Cropper, Maureen (1999). Valuing Environmental Benefits. Edward Elgar. • Hanley, N., Shogern, J.F. & White, B. (1997). Environmental Economics in Theory and Practice. Macmillan. • James, A.J., Murty, M. N. & Misra, Smita (1999). Economics of Water Pollution – The Indian Experience. Oxford University Press, New Delhi. • Sankar, U. (Ed.). (2001). Environmental Economics. Oxford University Press, New Delhi.