CEV 432 - Environmental Economics

Course Objectives

Course objectives are as followed:
1. to be able to apply the principles of engineering economics to real problems
2. to comprehend the fundamentals of environmental economics and to be able to use it in real life
3. to understand the relation between economy and sustainability

Course Description

General economical concepts; production functions; consumer behavior; indifference curves; supply-demand curve; elasticity; rant; social welfare; Pareto's optimum; externality concept; sustainable development. Finance mathematics; nominal and effective interest rate. Cost and its components. The measurement of benefit. Cost-benefit analysis. Treatment costs. Comparison of project alternatives and selection of the most economic project. Economical analysis of environmental quality. Human, market and environment. private and social cost. Economic instruments in environmental protection. The polluter/user pays principles and applications.