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ECO-20061 - Module Specification
Keele Business School
Faculty of Business, Law, Humanities & Social Sciences

For academic year: 2026/27 Last Updated: 26 April 2026

ECO-20061 - Environmental Economics
Coordinator: Rosa Maria Fernandez Martin
Lecture Time: See Timetable...
Level: Level 5
Credits: 30
Study Hours: 300
School Office: 01782 733094

Programme/Approved Electives for 2026/27

None

Available as a Free Standing Elective

No

Co-requisites

None

Prerequisites

n/a

Barred Combinations

If this module is taken 'Environmental and Climate Change Economics' cannot be taken at Level 6.

Description for 2026/27

In this module you will develop a deeper understanding of how economic policy instruments can be used to achieve environmental goals. Giving an economic value to environmental goods and services helps policymakers design the right economic incentives for sustainable behavioural change. You will learn about cost-benefit analysis but also about environmental taxes, subsidies, and carbon markets. You will also be introduced to environmental valuation techniques and to the different policy options for natural resources' and waste management.

Aims
This module builds on the knowledge gained in the 'Sustainability and the Global Economy' module and the topics related to externalities covered by the core micro and macroeconomics modules. The main aim is for students to develop deeper understanding of the economic policy instruments that can be used to achieve environmental goals (such as environmental taxes, subsidies or carbon markets). Quantitative and qualitative approaches will be used to introduce topics such as giving an economic value to environmental goods and services, which helps policymakers design the right economic incentives for sustainable behavioural change. This will lead to the exploration of different environmental valuation techniques, which together with cost-benefit analysis also help private business in their strategic decision-making.

Intended Learning Outcomes

assess the adequacy of environmental valuation techniques to capture the real value of environmental goods and services.: 2
apply quantitative and qualitative analytical techniques to assess effectiveness and measure the impacts of environmental policy interventions and instruments.: 1
illustrate the use of evidence for environmental policy decision-making in a way that becomes accessible to a variety of audiences.: 1
determine the role of environmental impact assessments as part of policy and business strategy development.: 2
relate the limitations of environmental valuation techniques and cost-benefit analysis to make decisions on the implementation of environmental projects.: 2

Study hours

34 hours of lectures
10 hours of seminars
4 hours of oral presentations
22 hours of class activity preparation.
100 hours of assessments' preparation.
130 hours of independent study. These will include reading of additional sources complementary to main readings; practice activities online; audio-visual materials. It will be suggested to keep a 'News diary' with a record of news related to the topics covered.

School Rules

None

Description of Module Assessment

1: Presentation weighted 50%
Individual oral presentation
Individual presentation (10 minutes + Q & A) in which students will select a country of their choice and summarise its use of environmental policy instruments (taxes, subsidies, participation in carbon markets) and assess the success (or lack thereof) to achieve the instruments’ goals. Students will present in front of the rest of the class (unless in cases where individual adjustments prevent this).

2: Research Report weighted 50%
Research report
Students will produce a 2000 words report in which they will critique a real environmental impact assessment document or the environmental valuation of a real project or event, assessing its completeness and complementarity to socio-economic impact assessment elements, and the use of relevant environmental valuation techniques.

The University undertakes a continuous review of its teaching and research provision to ensure programmes are of a high quality and changes may be made to modules where it is necessary and reasonable to do so. Please be aware that minor changes to modules, such as a change to an individual assessment, can occur up until enrolment, although we endeavour to give you as much notice as possible of any changes. Details about the circumstance in which changes are made to programmes can be found in the Student Agreement, available at: https://www.keele.ac.uk/legalgovernancecompliance/governance/actcharterstatutesordinancesandregulations/studenttermsconditions/

Last Updated: 26 April 2026