This course introduces learners to the knowledge of environmental and natural resource economics. It exposes learners to the application of economic theory and methods of environmental conservation and preservation. It will equip students with skills necessary on resource usage, as well as enable them learn about environmental management. The course seeks to explore models of environmental conservation, and it will provide an understanding of the role of the State in environmental management, while at the same time ensuring students not only understand but also apply basic concepts about efficient use of natural resources.

By the end of this course, the learner should able to:

ELO 1. Explain basic concepts and principles of environmental and natural resource economics

ELO 2. Analyze economy-environment and natural resource interaction;

ELO 3. Design models on environmental and natural resource economics

ELO 4. Analyze management of the environment and natural resource conversation policies

Nature and scope of environmental and natural resource economics; economy-environment and natural resource interaction; the material balance principle; entropy law; resource scarcity; limits to growth; 

Environment as a public good; Theory of environmental economics; externalities. Property rights, efficiency and social welfare, market and policy failures. 

The economics of pollution; optimal and efficient solutions. Environmental problems and pollution control policy in developed and the developing countries.

 Natural resources; renewable and non-renewable (exhaustible) resources. Common property resources. The efficient and optimal use of natural resources. The theory of optimal resource extraction; production and consumption.  Resource-use and the environment, cases: 

Energy, Fisheries, Forestry, Water, Wildlife and recreation.  Resource endowment and economic development. Environment and natural resource sustainability; Indicators of sustainability; relation between development and environment stress; environmental Kuznet curve. 

Environmental accounting: resource accounting methods; international environmental issues; climate change; likely impact mitigation efforts and international treaties