Philosophy & Economics of the Environment
Introduction
Rationale, Aims and Objectives
Environmental issues are prominent in public discourse and will remain so for the foreseeable future. They raise fundamental questions about valuation, justice between generations, decision-making under uncertainty, international collective action and the roles of market-based solutions and regulation. The literature on environmental issues is vast and cuts across many traditional academic disciplines. The course will be interdisciplinary. PPE students will thus have the chance to apply the analytical skills learned in the different disciplines to a topic of vital public interest.
Aims. The aims of the paper are to provide students with (i) an understanding of the philosophy and economics of the environment, and (ii) the ability to analyse critically key conceptual and applied issues in this field using both a philosophical approach and the theoretical and empirical tools of economics.
Objectives. At the end of the course, students should have a knowledge of the philosophy and economics of the environment, including theories of value, decision-making under uncertainty, market failures, international environmental agreements and the politics of the environment, intergenerational ethics and discounting, the choice of instruments, how human life and how nature may be valued, and the foundations of cost-benefit analysis (including methods for valuing non-market goods).
The paper will cover, as appropriate, applications to environmental problems such as climate change, acid rain, and local water and air pollution. In order to retain flexibility, however, these are not included in the rubric.
Further Information
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