ECON5511 Climate, Energy and Water Economics

6 points
(see Timetable)
Semester 2UWA (Perth)Face to face
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.
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.
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
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
This unit can be taken in the Master of Economics.

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

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