Introductory description

This module aims to introduce students to some of the key economic concepts and perspectives related to global sustainable development. In particular, by adopting problem-based learning as a teaching and learning model, it examines the relationship between Economics and Public Policy in sustainable development, and the ways in which economists address real-world dilemmas linked to sustainable development.

Module web page

Module aims

Outline syllabus

This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.

An Introduction to Global Sustainable Development in Economics

• How Do Economists Measure Sustainable Development?

The 'Fundamental' Determinants of Economic Development: Geography vs. Institutions

Economic Development, Poverty and the Environment

The Economic Case for Sustainable Development Intervention: Market Failure

• Externalities. Human Capital Investment
• The 'Tragedy of the Commons'. Environmental Quality
• Risk and Uncertainty. Land Productivity
• Asymmetric Information. Access to Credit

The Economic Case for Sustainable Development Intervention: Governance Failure

• The Principal-Agent Approach to Governance

Learning outcomes

By the end of the module, students should be able to:

• Apply fundamental economic principles and techniques to the analysis of global sustainable development problems and describe how economic activity relates to social and environmental development
• Understand the basic measures of economic development, criticise these methods, and discuss the advantages and disadvantages of alternative frameworks to measure sustainable economic progress
• Understand some of the most important economic cases for sustainable development policy intervention, such as theories of externalities, theories of ethics and efficiency, game theoretical explanations of collective outcomes, theories of property rights and decision-making under risk and uncertainty
• Interpret abstract economic models and apply basic quantitative information about global sustainability towards explaining and evaluating policy design
• Demonstrate an ability to undertake independent learning and research.

Indicative reading list

• Acemoglu, D. and Robinson, J. (2012) Why Nations Fail: The Origins of Power, Prosperity, and Poverty. Profile Books.
• Banerjee, A.V. and Duflo, E. (2011) Poor Economics. Penguin Books.
• Hanley, N., Shrogen, J. and White, B. (2013). Introduction to Environmental Economics, Oxford University Press.
• Jackson, T. (2011) Prosperity without Growth: Economics for a Finite Planet, Routledge.
• Ostrom, E. (2012) Understanding Institutional Diversity.
• Sachs, J.D. (2015). The Age of Sustainable Development, Columbia University Press.
• Stern, N. (2006) Stern Review: The Economics of Climate Change.
• Todaro, M.P. and Smith, S.C. (2015). Economic Development, Pearson.
  Additional journal articles and resources will be made available on the Moodie site.

View reading list on Talis Aspire

Interdisciplinary

This is a core module on the Global Sustainable Development course which adopts an interdisciplinary approach spanning the arts, humanities, social and natural sciences fields in order to engage with the major global challenges facing contemporary society, explore these 'big problems,' from a variety of perspectives and consider a range of possible solutions.

Subject specific skills

Apply fundamental economic principles and techniques to the analysis of global sustainable development problems and describe how economic activity relates to social and environmental development.
Understand the basic measures of economic development, criticise these methods, and discuss the advantages and disadvantages of alternative frameworks to measure sustainable economic progress.
Understand some of the most important economic cases for sustainable development policy intervention, such as theories of externalities, theories of ethics and efficiency, game theoretical explanations of collective outcomes, theories of property rights and decision-making under risk and uncertainty.
Interpret abstract economic models and apply basic quantitative information about global sustainability towards explaining and evaluating policy design.

Transferable skills

Ability to undertake independent learning and research.