ECON5511 Climate, Energy and Water Economics

Credit
6 points
Offering
(see Timetable)

If this unit does not have an online alternative, then students who are presently unable to enter Western Australia and whose studies would be delayed by an inability to complete this unit, should contact the unit coordinator (details given on this page) to ascertain, on an individual case-by-case basis, if alternate arrangements can be made to support their study in this unit.

AvailabilityLocationMode
Semester 2UWA (Perth)Online timetabled 100% Online Unit. NO campus face-to-face attendance is required to complete this unit. All study requirements are online only. Unit includes some synchronous components, with a requirement for students to participate online at specific times.
Semester 2UWA (Perth)Face to face Predominantly face-to-face. On campus attendance required to complete this unit. May have accompanying resources online.
Semester 2AlbanyOnline timetabled 100% Online Unit. NO campus face-to-face attendance is required to complete this unit. All study requirements are online only. Unit includes some synchronous components, with a requirement for students to participate online at specific times.
Details for undergraduate courses
  • Honours option in Environmental Science; Natural Resource Management [Bachelor of Science (Honours)]
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, renewable energy or water management agencies, relevant government departments, and industries that intensively use water or energy, such as mining, smelting, transport and power generation. Students will learn much of the content by studying in small groups a set of articles carefully selected according to their specific backgrounds, so that students in each group can complement their understanding using their respective strengths.
Outcomes
Students are able to (1) undertake economic analysis of climate adaptation options in the water and energy sectors and (2) demonstrate an understanding of the issue of climate change and how it affects the economy.
Assessment
Indicative assessments in this unit are as follows: (1) quizzes; (2) written assignments; and (3) in-class activities. Further information is available in the unit outline.

Supplementary assessment is not available in this unit.
Unit Coordinator(s)
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 Master of Environmental Science (72530)or Master of Petroleum Geoscience (73540) or Master of Ocean Leadership (62540) 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 equivalent. Students who do not meet the prerequisites can contact the unit coordinator to discuss a possible exception.
Contact hours
lectures/tutorials: 3 hours per week for 10 weeks
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.
  • Unit readings, including any essential textbooks, are listed in the unit outline for each unit, one week prior the commencement of study. The unit outline will be available via the LMS and the UWA Handbook one week prior the commencement of study. Reading lists and essential textbooks are subject to change each semester. Information on essential textbooks will also be made available on the Essential Textbooks. This website is updated regularly in the lead up to semester so content may change. It is recommended that students purchase essential textbooks for convenience due to the frequency with which they will be required during the unit. A limited number of textbooks will be made available from the Library in print and will also be made available online wherever possible. Essential textbooks can be purchased from the commercial vendors to secure the best deal. The Student Guild can provide assistance on where to purchase books if required. Books can be purchased second hand at the Guild Secondhand bookshop (second floor, Guild Village), which is located on campus.