This course fills a block of four weeks with four components:
- Ecological Economics
- Participatory techniques & stakeholder analysis
- Interdisciplinarity between natural and social sciences in coastal management
- Law of the sea and international environmental marine law
This course provides an introductory account of the way the issues relating to ecology are handled in economic analysis. For this purpose, we start with a highly simplified and stylized model of a market economy. Concepts such as market mechanism, economic rationality, consumer and producer objective functions, equilibrium, efficiency etc. are introduced, as these are central to the issue of valuation of resources (natural or otherwise), or more generally, all goods and services in any contemporary economy. Having introduced the core concepts and the basic model, questions regarding the adequacy of such a model for 'correct' valuation are raised. The focus of the discussion is the central issues in the literature on 'market-failure', and the main strands in this literature that are relevant to economic valuation of natural environment. A review of major problems in this regard, as identified in the economic analysis, and the associated policy prescriptions, both from micro and macro-theoretic perspectives, are discussed. Thus a broad framework is outlined which should be cosidered a primer as regards investigating the interface between economics and ecology. After sketching out the broad framework, a couple of ideas and techniques particularly relevant to the subject at hand are examined in greater detail. These include the concept of sustainable development, methodology of project preparation and evaluation, and the issues in cost-benefit analysis. The course concludes with exercises and presentations illustrating the uses of aforementioned ideas and techniques. The basic purpose of this course is to provide a brief chronological account of the evolution of ideas relating to ecology in economic analysis, and an overview of the current thinking on some of the major issues in ecological/resource economics. This would be done with the help of basic principles in both microeconomics and macroeconomics. The course would begin with a discussion of some of the key concepts of relevance from microeconomic theory; this would include a conception of a market economy, the notions of allocational efficiency and equilibrium in a market economy, the issue of market failure, the problem of valuation of ecological resources etc. From the perspective of macroeconomics, the discussion would include, among other things, issue of ecology and national income accounting, and the theme of appropriate trajectories for sustainable development. Part of the time allotted for the course would be used for exercises and problem-solving, to facilitate a better understanding of the concepts and theories involved.
Ecological Economics: Investigation of the cost-benefit-aspects of economic projects. Provide an overview on the principles of modern ecological economics.