Ecological Economics N

Course aim

To develop an evidence based analytic perspective of economics that is consistent with the laws of thermodynamics and environmental science.

Course content

Descriptive treatment of economic measurement techniques; introduction to geographical information systems; overview of relational databases and database queries; storage and manipulation of environmental and socio-economic information.

Ecological Economics is an emerging transdisciplinary endeavour that reintegrates the natural and social sciences toward the goal of developing a united understanding of natural and human-dominated ecosystems and designing a sustainable and desirable future for humans on a materially finite planet. In this course we start with a basic overview and summary of the neo-classical economic perspective with a particular focus on the recognised market failures of public goods, common property, and externalities. The perspective of ecological economics consists of both positive and normative approaches to scientific and social problems. Positivistic elements of ecological economics insist that the laws of thermodynamics hold for all natural and human systems. Normative elements of ecological economics are inherent in contemporary ideas of the notion of sustainability (e.g. distributional equity across space and through time).

This course builds on the seminal and contrasting ideas of Adam Smith, Thomas Robert Malthus, and Charles Darwin as they pertain to a growing human population with increasing levels of technology, energy throughput, and social complexity on a planet with limited and finite resources. We begin with a reconceptualisation of economic theory by imposing scientific constraints (e.g. conservation of mass and energy, the laws of thermodynamics, evolutionary theory etc.).

Using the ideas developed in this reconceptualization of economic theory we explore the implications for international trade and myriad public policies associated with the ethical, environmental, and economic aspects of sustainability.

Textbook(s)

Daly, HE & Farley, J 2011, Ecological Economics: Principles and Applications, 2nd edition, Island Press, Washington

Prerequisite(s)

Nil

Corequisite(s)

Nil

Teaching method

Note: These components may or may not be scheduled in every study period. Please refer to the timetable for further details.

Assessment

Examination, Presentation, Project

Fees

EFTSL*: 0.125
Commonwealth Supported program (Band 2)
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Fee-paying program for domestic and international students
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* Equivalent Full Time Study Load. Please note: all EFTSL values are published and calculated at ten decimal places. Values are displayed to three decimal places for ease of interpretation.