ENS 203
Economics of Environmental Standards
3
Course Description
At the end of this course students will be able to:
1. define basic concepts in Environmental Economics;
2. explain the location theory and its applicability in environmental economics;
3. discuss the economic basis for urbanization;
4. explain the relationship between land use and land value;
5. state the interaction between land use and value on the workings of the price mechanism; and
6. apply economic analyses to practical situations involving land regulation.
Course Outline
Land as a scarce and exhaustible resources. Location theory, economic basis of urbanization,
conflicting and competing demands for land use and conservation. Relationship between land use
and land value. Effect of land use and land value on the operation of price mechanism. The
process of land development economics of real estate, nature and function of the urban property,
urban area, financial development and economic concepts.