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Topic 4: Economics and environment /2548

Topic 4

Lecture handouts

w24: Introduction to ecological / biophysical / doughnut economics

w28: Energy, sustainability and economy

Ecological economics

Gowdy, J and Erickson, JD (2005a), The approach of ecological economics, Cambridge Journal of Economics, v29, pp207-222

Gowdy, J and Erickson, JD (2005b), Ecological economics at a crossroads, Ecological Economics, 53 pp17-20

** Raworth K (2017), Doughnut economics: seven ways to think like a 21st century economist, London: Penguin Random House [see the Doughnut Economics YouTube channel as well]

Biophysical economics

Costanza, R et al (2009), Beyond GDP: The need for new measures of progress?, The Pardee Papers, no. 4, January

Coyle, D (2014), GDP: A Brief but Affectionate History, Princeton: Princeton University Press

Farley, J (2012), Ecosystem services: The economics debate, Ecosystem services, v1 i1, pp1-10

Gowdy, J, Hall, C, Klitgaard, K and Krall, L (2010), What every conservation biologist should know about economic theory, Conservation Biology, v24 i6 pp1440-1447

Harris, JM and Codur, AM (2011), Macroeconomics and the environment, Encyclopedia of Earth, April 26th

Juniper, T (2013), What Has Nature Ever Done For Us?, London: Profile Books

Klitgaard, K (2012), The Essence of Biophysical EconomicsNYSEA Proceedings, Volume 5, pp100-109

Climate change

Berners-Lee, M and Clark, D (2013), The burning question, London: Profile book

Carbon Tracker Initiative (2011), Unburnable Carbon – Are the world’s financial markets carrying a carbon bubble, CTI

Carbon Tracker Initiative / Grantham Research Institute (2013), Unburnable Carbon 2013: Wasted capital and stranded assets, CTI

McCandless, D (2012), How many gigatons of carbon dioxide… ?, Information is Beautiful, December

Stern, N (2006), The economics of climate change, HM Treasury

Stern, N (2014), Climate change is here now and it could lead to global conflict, The Guardian, Feb 14th

Stewart, H and Elliott, L (2013), Nicholas Stern: ‘I got it wrong on climate change – it’s far, far worse’, The Guardian, Jan 26th


Gupta, AK and Hall, CAS (2011), A review of the past and current state of  EROI data, Sustainability, v3, pp1796-1809

Hall, CAS and Klitgaard, KA (2006), The need for a new, biophysical-based paradigm in economics for the second half of the age of oil, International Journal of Transdisciplinary Research, v1 no.1, pp4-22

Hall, CAS, Balogh, S and Murphy, DJR (2009), What is the minimum EROI that a sustainable society must have?, Energies, v2, pp25-47

Johnson, V et al (2012), The economics of oil dependence: A glass ceiling to recovery, New Economics Foundation, November 10th

MacKay, D (2009), Sustainable Energy – without the hot air, Cambridge: UIT Cambridge Ltd [see his TEDx talk]


Ellen MacArthur Foundation (2013), Towards the circular economy Vol 2, EMF

McDonough, W and Braungart, M (2002), Cradle to cradle: remaking the way we make things, Northpoint press [see TED talk]

Raymond, T (2012), Ecovative Design: wiping out polystyrene with fungus and farm waste, Wired, February [see founder Eben Bayer’s TED talk]

Webster, K and Johnson, C (2010), Sense & Sustainability: Educating for a circular economy, Ellen MacArthur Foundation

UN (1987), Report of the World Commission on Environment and Development: Our Common Future, United Nations


Centre for the Advancement of the Steady State Economy (CASSE)

Ellerman, AD and Joskow, PL (2008), The European Union’s Emissions Trading System in perspective, Pew Center on Global Climate Change, May

Jaffe, A.B., Newell, R.G., Stavins, R.N. (2005), A tale of two market failures: Technology and environmental policy, Ecological Economics, Vol. 54, Issues 2-3, pp. 164-174