Economics and Policy 8 ECTS

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CMM05 Core course 8 ECTS
Period W17 - V19 08.04.13 - 03.05.13
Instructor Gabriela Sabau and Daði Már Kristófersson

Description

Various incentives, policies and management initiatives are used to influence human behaviour and to promote sustainable development.

This course gives an overview of environmental and resource management and public policy tools and instruments - in the context of management of coastal and marine environments and sustainable development (SD). It introduces elements of standard economic analysis (neo-classical economics) as well as other approaches, such as ecological economics. It focuses on how to manage for healthy ecosystems and a healthy economy, and aims at providing students with the necessary tools to assess objectives and to make choices when it comes to environmental and resource management in coastal and marine regions.

The course is broken into three modules:

In the first module we look at neo-classical economics. We discuss economics tools of environmental analysis and valuation both within markets and when markets are absent. Special emphasis will be given to implementation of these tools in practical instances of decision-making concerning use or conservation of the coastal and marine resources.

In the second module we focus on relevant, international instruments (conventions, declarations etc.) of environmental governance. We assess the concept of SD from economic, social and environmental perspectives. We compare the concepts of economic growth and SD and ask if the two are compatible. Action plans such as the Rio, Johannesburg, Agenda 21, and initiatives such as the Environmental Kuznets Curve, the Resource curse, the Porter hypothesis, and Sustainability indicators at micro and macro levels will be covered. 

In the third module we examine the ideological foundations of environmental and natural resource policies, and assess various policy tools and instruments used in coastal and ocean situations. The main focus will be on instruments, policies and management approaches in selected case studies.

Learning outcomes

At the end of the course, students will:
· have gained a systematic understanding of the role of policy in the sustainable management of coastal and marine areas.
· be able to discuss and apply theories of environmental economics and various policy instruments.
· be able to determine which research methods in the field of economics are suitable for a given research question dealing with economic aspects of coastal or marine areas.
· be able to develop/plan, draft, revise and complete a research writing project.
· be able to propose a realistic, detailed policy recommendation by using the course concepts.
· be able to share this work effectively in a short presentation.

Assessment

  • · Policy research proposal (due on the first day of week 2) 5%
    · Research paper draft 1 (due on the first day of week 3) 15%
    · Research paper presentation (due on the last day of week 4) 10%
    · Research paper final submission (due on the last day of week 4) 20%
    · Problem sets x 2 (25%)
    · In class quiz (6%)
    · Reading Commentaries (4 in total due at beginning of class, worth 3% each) 12%
    · Position paper (due on the last day of week three) 7%
    · Total 100%

Instructor

[mynd 1 h]Dr. Sabau currently teaches at Sir Wilfred Grenfell College, the western campus of Memorial University in Newfoundland, Canada. Among her courses are: Principles of Micro and Macroeconomics, Intermediate Macroeconomics, Environmental Economics, Ecological Economics and a senior seminar in Environmental Studies. Her research interests include theoretical aspects of the knowledge society and knowledge-based economy; the theory of choice and moral knowledge; the economics of sustainable development; environmental and natural resource economics; ecological economics and problem-based learning.

[mynd 2 v]Daði Már Kristófersson is Associate Professor of environmental and resource economics at the University of Iceland (UI), as well as Director of Development and Alliances at UI's Office of the Rector. His research area is environmental and resource economics.

In 2005 Dadi Mar Kristófersson defended his Ph.D. thesis in economics at the Norwegian University of Life Sciences. The Ph.D. thesis, called Markets and Heterogeneous Goods, is based on studies by the author on price of fish, including Icelandic fish auctions. He completed his master degree in Resource Economics from the same university in 2000. Daði earned his B.Sc. degree in agricultural sciences from the Agricultural University of Iceland in 1997.
In 2008, Daði Már Kristófersson was appointed expert with special emphasis on natural resources economics at the Institute of Economic Studies, UI. Before that, he was employed at the Farmers Association of Iceland, and in 2005, a teacher at the Norwegian University of Life Sciences.


Guest lecturer

Further reading