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ECO3030 Sustainable Economies

Units : 1
Faculty or Section : Faculty of Business, Education, Law and Arts
School or Department : School of Business
Student contribution band : Band 4
Grading basis : Graded
Version produced : 20 May 2022

Overview

The tremendous improvements in our standards of living during the twentieth century are the fruits of economic growth. However, when considering environmental and other costs associated with growth, the question being raised is: are there limits to economic growth? Many believe that this is not an either/or choice; rather a balance between environment and development is both possible and is happening. Countries do not have to abandon their development potentials to preserve the environment. In fact economic development is essential to maintaining our standards of living. The notion of sustainable economies allows economic development not based on the exploitation of natural resources and the environment in a way that cannot be sustained. Policies and strategies can be designed and implemented to improve economic efficiency, and thus promote economic development, minimise adverse environmental effects and internalise the externalities into the decision making process.

This course introduces students to a way of thinking about environmental problems and achieving sustainable economic development, based on economic principles. The course provides a background to the study of resource and environmental economics by putting it in the context of economy-environment interdependence and sustainability concerns, and the fundamental characteristics of an economic approach to environmental problems and their assessment. Both macro and microeconomic principles and their application are covered, as is the essence of economic perspectives. Both regulatory and market-based approaches are explored in an effort to protect natural resources and improve environmental quality. General emphasis is placed upon the improvement of economic welfare through the application of economic principles in the search for sustainable economic development.

Course offers

Semester Mode Campus
Semester 2, 2022 Online
Date printed 20 May 2022