UWA Handbook 2017

Unit details

ECON5511 Climate, Energy and Water Economics

Credit 6 points
  Offering
(see Timetable)
AvailabilityLocationMode
Semester 2UWA (Perth)Face to face
Content Without energy or water, our way of life would collapse. Energy use and water availability are closely connected to climate change. How can we make effective decisions as a community about these three interconnected issues? This unit tackles this problem in three modules. Module 1 (energy and climate change) seeks to understand what drives society's demand for energy, how it is affected by energy markets and how energy policies affect greenhouse gas emissions. Module 2 (the economics of climate change) investigates the difficulties of evaluating the economic, environmental and social impacts of climate change and how this affects the effectiveness of climate change policies. Module 3 (water management and policy) seeks to understand what drives water demand and supply, how climate change affects this delicate balance and what policies can help societies adapt to the new climatic conditions. The unit focuses on the economic concepts and tools needed to explain and solve these problems, including supply issues and cost structures, pricing policies, property rights, externalities, cost-benefit analysis and risk management. The unit is a good preparation for those interested in working with electricity or water management agencies, relevant government departments, and industries that intensively use water or energy, such as mining, smelting, transport and power generation.
Outcomes Students are able to (1) undertake economic analysis of climate adaptation options in the water and energy sectors and (2) understand the issue of climate change and how it affects the economy.
Assessment Typically this unit is assessed in the following ways: (1) quizzes and (2) research reports. Further information is available in the unit outline.

Supplementary assessment is not available in this unit.
Unit Coordinator(s) Associate Professor Steven Schilizzi
Unit rules
Prerequisites: enrolment in the Master of Agricultural Economics (73530) or the Master of Economics (42620) or the Master of Agricultural Science (72510) or the Master of Science (70630) or honours in the Faculty of Science or honours in the Business School; ECON1120 Environmental Economics 1 or ECON1101 Microeconomics: Prices and Markets or ECON1102 Macroeconomics: Money and Finance or ECON2224 Environment Economics 2 or ECON4410 Environmental and Resource Economics (most recommended) or equivalent. Students who do not meet the prerequisites can contact the unit coordinator to discuss a possible exception.
Advisable prior study: Strongly recommended: ENVT4402 Analysis for Natural Resource Management or ECON4410 Environmental and Resource Economics or AGRI4402 Agribusiness
Contact hours lectures/tutorials: 3 hours per week for 10 weeks
Unit Outlinehttp://www.unitoutlines.science.uwa.edu.au/Units/ECON5511/SEM-2/2017
Note This unit can be taken in the Master of Economics.
Texts

Griffin, R. C. Water Resource Economics: the Analysis of Scarcity, Policies, and Project. MIT Press 2006


  • The availability of units in Semester 1, 2, etc. was correct at the time of publication but may be subject to change.
  • All students are responsible for identifying when they need assistance to improve their academic learning, research, English language and numeracy skills; seeking out the services and resources available to help them; and applying what they learn. Students are encouraged to register for free online support through GETSmart; to help themselves to the extensive range of resources on UWA's STUDYSmarter website; and to participate in WRITESmart and (ma+hs)Smart drop-ins and workshops.
  • Books and other material wherever listed may be subject to change. Book lists relating to 'Preliminary reading', 'Recommended reading' and 'Textbooks' are, in most cases, available at the University Co-operative Bookshop (from early January) and appropriate administrative offices for students to consult. Where texts are listed in the unit description above, an asterisk (*) indicates that the book is available in paperback.