Environmental Economics

This course provides participants with a basic understanding of the key concepts in environmental economics and how they can be applied to public policy challenges.

Economics provides a powerful lens within which to consider and test “what is”, “what could be” and even “what should be”. Within the context of environmental economics defining these questions, let alone answering them, can be as much of an art as it is a science.
Participants will be exposed to (for better or worse) how different economists think about the environment, (more importantly) how they try to incorporate it in decision making, and the toolkit for policy interventions.

Participants will become familiar with policy interventions that are based on environmental economics, particularly those in a New Zealand context including the Quota Management System and Emissions Trading Scheme.

This is the first time we have run the course so we will be using an adaptive management framework to delivery. That means we will see how it is going and adjust accordingly. It also means we are particularly open to feedback to help improve the future delivery of this course.

Course objectives

On completion of this course, participants should:

• Understand key environmental economics concepts and when to apply them;
• Understand the main strengths and weaknesses of key decision-making frameworks in an environmental context;
• Be familiar with environmental economics policy tools in the New Zealand context (especially the Emissions Trading Scheme and Quota Management System), including their strengths and weaknesses;
• Be aware of the environmental economic toolkit; and
• Be concerned for the future of human existence yet optimistic that we can get our sh*t together in time.

Session outline and delivery

The course will be delivered over four sessions from 9am – 2pm, afternoon tea will be provided each session.

Day 1 – Key Concepts

• Strong vs Weak Sustainability
• Alternative frameworks (e.g., Doughnut, Wellbeing)
• Rationale for policy intervention
• Managing common pool resources (e.g. Quota Management System)
• Environmental examples of market failures and interventions
• Willingness-to-pay and willingness-to-accept
• Distributional impacts

Day 2 – Environmental Valuation

• Benefit – cost analysis – an introduction
• Discount rates
• The importance of the counterfactual
• Valuation methods (anthropocentric vs intrinsic, use vs non-use, market vs non-market)
• Natural capital
• Alternative approaches

Day 3 – Climate Deep Dive

• Climate change as a global market failure
• Climate-economic modelling approaches
• Discount rates – round 2
• Quantifying the externality – social cost of carbon
• Economic policy instruments – price vs quantity
• Emissions pricing vs complementary measures
• International issues and context
• Adaptation – options, considerations and costs

Day 4 – Bringing it Together

• Scenario analysis
• Where to next?

By submitting this Registration Form, you are confirming your availability to attend the GEN Training Course.

1. Cancellation will not be accepted. The booking will be charged and invoiced with the full fee.
2. If a registrant is unable to attend the course, the registration may be transferred to another suitable person to attend 2 days before start. All transfer requests must include the new attendee’s name, email address and telephone number and received in a written format and can be emailed to info@gen.org.nz.
3. No refunds will be given by GEN for no-shows.

DECLARATION: I hereby certify that I am duly authorised to complete this registration form and have read and understand the terms and conditions as stipulated above.