Week 1 : Basic concepts and tools from microeconomics and welfare economics; meaning, definition and relevance of environmental economics; comparison with other sub-disciplines like ecological economics and natural resource economics.
Week 2 : Goods- public, private and collective; collective action problem- Hardins’ thesis of the tragedy of the commons, Prisoners’ dilemma game and Olson’s logic of collective actions and group behavior.
Week 3 : Poverty, environment and economic growth linkage- Environmental Kuznets
Curve, Environmental goods and ecosystem services.
Week 4 : Environmental sustainability- ecological footprints and environmental
Week 5 : Consumer demand of environmental goods and welfare effects of price
Week 6 : Benefit-cost analysis, Values, environmental values and valuations.
Week 7 : Non-market environmental valuation approaches- Revealed preference
methods; Stated preference methods.
Week 8 : Market- efficiency, optimality, consumers and producers surplus.
Week 9 : Optimum provision of public goods and bads.
Week 10 : Externality and market failure, Pigouvian fees.
Week 11 : Coase theorem and property rights.
Week 12 : Environmental Regulations and basic regulatory instruments- command and
control approaches and market based approaches.