Natural Resource and Environmental Economics

Course description

The course is concerned on the relationship between environment and economic activities; the issue and role of property rights; optimal and sustainable utilization of non-renewable and renewable resources; and on the optimal pollution control issues. The issue of valuation of environmental goods and services and environmental impact assessment are also points intensively discussed in the course. Since every rational individual and the society as a whole is concerned on the balance between human activities and preservation of safe environment for the existing and future generations; the basic question is how to use those resources in an optimal and sustainable manner. The course aims at enabling the students with ample policy tools to meet the above agenda.

Course outcomes

Upon the completion of this course, students will be able to:

• Analyze the nexus between environment and development
• Equip with wide ranges of policies for sustainable development
• Examine causes and correcting mechanisms of market failures
• Evaluate different models about the optimal use of renewable resources such as forest and fisheries
• Analyze optimal depletion of non-renewable resources such as minerals and energy resources
• Acquire skill about the environmental policy instruments to control pollution
• Acquire an in-depth understanding of the different environmental goods and services valuation techniques
• Acquire skill to undertake rigorous Environmental Impact Assessment (EIA)

Course contents

Click the down arrow icon [ 🔽 ] to expand and collapse the course topics.

🔽 0 h 44 min | Introduction
  • Emergence of Natural Resource and Environmental Economics (NREC)
  • Classical, neoclassical and modern economic thoughts
  • Efficiency, optimality and sustainability
  • Fundamental issues needed to achieve efficiency, optimality and sustainability
🔽 1 h 39 min | The Concept of Sustainability Problem
  • Sustainability
  • The economy and the environment
  • Weak and strong sustainability
  • The drivers of environmental impact
  • The analysis of sustainability issues
  • The roles of policy and institutional conception, incentives and information in sustainability
🔽 1 h 22 min | Welfare Economics and the Environment
  • The concepts of efficiency and optimality in allocation
  • Realization of an efficient allocation
  • Market to produce efficient allocation
  • Market failure
🔽 2 h 06 min | Environmental Valuation
  • The categories of economic value assigned to the natural environment, and the distinction between use and non-use values
  • Valuation techniques
  • Travel cost method and Hedonic pricing to tourism and property valuation
  • Contingent valuation and choice experiment models work in valuing the non-use values of the environment
🔽 0 h 47 min | Economics of Pollution Control
  • Types of pollutants
  • The pollution taxonomy
  • Waste flows
  • Efficient allocation of fund and stock pollutants
  • Cost effective policies for efficient and optimum allocation of pollutions
🔽 0 h 43 min | Efficient and Optimal Use of Natural Resources
  • The role of time and interest in resource allocation
  • The role of elasticity of substitution and the innovative mechanisms available to enhance elasticity of substitution
  • Static and dynamic efficiency
  • The Hotelling’s rule in non-renewable resource allocation
  • Non-renewable allocation in competitive and monopoly markets
🔽 1 h 32 min | Allocation of Renewable Resources
  • The tragedy of the commons and the importance of the commons for the poor
  • The importance of property rights in natural resource use
  • Bio-economic modeling of fishery under the different property rights
  • Challenges of sustainable forest utilizations
  • Profit maximizing timber harvesting interval


This course includes:

    8 h 55 min recorded video

    Downloadable resources (books and articles)

    One year access

    Access on mobile and TV

    Advanced Level

    Certificate of completion


1 year of access
This course does not have any sections.
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