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TI501 Sustainability, Environment & Development

Master/Diploma in Rural Development

This module employs economic tools for the analysis of environmental and natural resource issues. It considers the issue of sustainable development including concepts of sustainability and the inter-connectedness of human and environmental systems. Weak and strong sustainability. Sustainable development. Limits to growth, the ecological footprint. The theory of externalities, public goods, common resources and the importance of missing markets and property rights. Total Economic Values including direct, indirect, option value and existence value. The optimal use of natural resources (renewable and non-renewable). Application and use of environmental policy instruments to address environmental problems and promote sustainability. Specific environmental problems, namely river pollution, deforestation, biodiversity loss and the trade in wildlife products, global warming and acid rain are discussed.

Priority Research Area: Industry Clustering

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