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M.Sc. in Environmental and Natural Resource Economics

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In Southeast Asia, the rapid structural economic changes have resulted in increasing pressure on the environment: population growth, higher consumer demands, industrialisation and urbanisation. While the need to protect the environment is recognised by most sectors of society, but how to achieve a balance between economic growth, social welfare and environmental health is widely debated.

Environmental Economics, which is a new and exciting branch of economics, integrates the disciplines of economics with environmental sciences such as ecology, biology, chemistry and physics. It analyses the conflict between societal production and consumption patterns and the limitations of the environment.

The Master of Science in Environmental and Natural Resource Economics was established in the Faculty of Economics in June 1997. The Programme is an international master degree programme taught in English and open to graduates of all disciplines and nationalities. Fully equipped facilities, English as the medium of instruction and in-depth training produce qualified graduates with a thorough understanding of environmental economics.

The Programme examines the application of economic principles to environmental and natural resource issues within an interdisciplinary setting, resulting in an integration of economics with other social and environmental sciences and policy mechanisms. The Programme also places a heavy emphasis on the formulation of environmental and natural resource policies in Thailand and other countries in the Asia-Pacific region.

Objectives of the Programme

		To provide essential training in the economic, ecological and sociological dimensions of environmental policies and management.
		To strengthen the ability to evaluate alternative means of environmental regulation at the global, regional, and local level and also the ability to adapt a multi-disciplinary approach to environmental problem solving and decision making.
		To clarify the nature and implications of environmental policy options.
		To improve the decision making process in the environmental sector.

Course Structure

The MSc is designed to ensure that students are introduced to the range of interdisciplinary perspectives that contribute to environmental economics, management strategy and policy analysis. A highly competent student should complete one's study within one year while others may spend more time. In any case, one should be able to complete the study programme within two years.

The student needs 36 credits to graduate. The programme starts with eight compulsory courses, each course lasting one month with 3 credits. When the student obtains the necessary 24 credits, one can alternatively choose between two study plans; Plan A and Plan B.

		Plan A :	Students must complete the dissertation module (12 credits). Students select their own dissertation topics that must be approved by the MSc administrative staff.

		Plan B :	The dissertation is substituted by a series of five courses (each worth three credits) of which the student chooses only four. This allows the student to specialise in the chosen field. One of the courses (code 2948711: Individual Study in Environmental and Natural Resource Economics) can be a short paper to be completed within one month, on a topic proposed by the student and approved by the MSc administrative staff. The student may also substitute one course (code 2948612 : Special Topic in Environmental and Natural Resource Economics) with another relevant course (approved by the MSc administrative committee) including one offered by other faculties.

Each course is one month long, with three-hour lectures in the evenings for a total of 48 hours. The comprehensive examination will be arranged at the end of each term and cover the subjects in most courses. The student has to pass the examination within two attempts.

Field trips are planned to relevant organisations in Bangkok and Thailand. A one week field work is planned in Surat Thani Province where students can develop some projects in small groups under the supervision of the academic staff.

Course Outline

Students must take a total of 36 credits. Each course gives 3 credits, except the dissertation (code 2948811) that gives 12 credits.

	First Term : (12 Credits)

		2940603 Advanced Economic Theory 1
		2940604 Advanced Economic Theory 2
		2948603 Principles of Ecology for Economists 1
		2948604 Principles of Ecology for Economists 2

	Second Term : (12 Credits)

		2948605 Theories of Ecological Economics
		2948607 Economic Valuation of Environmental and Natural Resources
		2948609 Environmental Database and Information Systems
		2948608 Research Methods in Environmental and Natural Resource Economics

	Third Term : (12 Credits)

		Plan A

		2948811 Thesis

		Plan B

		2948711 Individual Study in Environmental & Natural Resource Economics

	Plus a choice of 3 out of the following 4 courses:

		2948606 Theories of Collective Action and Application to Environmental Management
		2948610 Society, Business and Environment
		2948611 Seminar in Environmental Problems and Management
		2948612 Special Topic in Environmental and Natural Resource Economics (e.g.: Energy Economics and Climate Change Modelling)

Foreign Collaborators

		Dr. Mushtaq H. Khan, Professor, University of London, United Kingdom
		Dr. Dan Tony Vadnjal, Professor, Swedish University of Agricultural Sciences, Sweden;
		Dr. Gareth Edward Jones, University of Wales, United Kingdom;
		Dr. Robert J. Buschbacher, WWF (Fundo Mundial para a Natureza Brasil;
		Dr. Christian Dufournaud, University of Waterloo, Canada;
		Dr. Jack Ruitenbeek, H.J. Ruitenbeek Resource Consulting Limited, Canada; etc.

Cooperation with Overseas Institutions:

		United States:-	University of Washington, University of Georgia, University of Maryland, Resources for the Future, and the Harvard International Institute of Development;
		United Kingdom:-	University of York, University of London, University of Cambridge, University of Hull, and Bath University;
		The Netherlands:-	University of Twente and University of Utretcht; etc.

Course Description

		2940603 Advanced Economic Theory 1(3 credits)
		Analyses of micro-economic theory in the areas of : the theory of the consumer and producer; different types of markets such as perfect and imperfect competition, oligopoly and monopoly; game theory; uncertainty and imperfection of information; welfare and social optimality.

		2940604 Advanced Economic Theory 2 (3 credits)
		Deepening in economic theory and its use in ecological economics. Determination of aggregate demand and supply; monetary and fiscal policies; goods markets and capital markets; various types of macro-economic models; the theories related to the major macro-economic variables such as consumption, investment, and business cycles. Computer skill is essential in practising the model simulation exercises.

		2948603 Principles of Ecology for Economists 1 (3 credits)
		Analyses of key concepts, principles, and mechanisms of interactions between ecological systems and environment; analyses of the basic fundamental relationships of structure and functions of the ecological systems by holistic approach; control and stability; a comprehensive understanding of how nature works.

		2948604 Principles of Ecology for Economists 2 (3 credits)
		Prerequisite: Principles of Ecology for Economists 1 (code # 2948603) System approach and modelling techniques to ecological systems analyses; relevance of ecological theories and paradigms to environmental and resources management; laboratory work and field study.

		2948605 Theories of Ecological Economics (3 credits)
		Introduction of economic models and techniques for environmental issues analyses; design of policies to foster sustainable development; exploration of economic methodologies in theory and practice by evaluating their applications in case studies; normative study of optimal allocation of various types of resources; determination of the environmental quality of environmental goods based on their market characteristics; comparison of different instruments for environmental management;required knowledge for evaluation of environmental policy and contribution of economics to its design and implementation; awareness of the limitations of economic methodologies for environmental problems and their scope for contribution to policy debate.

		2948606 Theories of Collective Action and Application to Environmental Management (3 credits)
		Analyses of theories and practices of collective action in the Asia-Pacific Zone and beyond; theory of collective action and conflict solution including the condition under which cooperative action will be the outcome and feasibility of collective action and obstacles; application of theories including game theory, to analyse resource allocation problems relating to common property resources; and the establishment of rules for the optimal utilisation of those resources.

		2948607 Economic Valuation of Environmental and Natural Resource (3 credits)
		Application of techniques used to value environmental resources are introduced through discussion of inter-generating equity and efficiency, risk and uncertainty, and theoretical and practical application of various methodologies for the valuation of environmental resources. Techniques to be discussed are; those based on direct and indirect market information (hedonic price approach) such as total economic value, actual use value, option value, property value, wage rates (cost of human capital), expenditure on related goods and production function approach; those based on stated preferences (surrogate markets) in the absence of markets, as expressed through contingent valuation and travel cost methods, willingness to pay and willingness to accept, and intrinsic value; those based on dose-response data linking environmental changes to pollution and environmental degradation, such as protection expenditure and compensation approach.

		2948608 Research Methods in Environmental & Natural Resource Economics (3 credits)
		Covering research methods principles and applications to environmental and natural resource economics including ethical and resource implications of research strategies, specific and practice-based knowledge of research techniques, and an ability to evaluate their appropriateness to particular research settings and objectives; an appreciation of the linkages between empirical research and theoretical and substantive issues within economic and environmental studies;formulation of research problems and testing of hypotheses; and methods for the dissemination and effective presentation of results.

		2948609 Environmental Database and Information Systems (3 credits)
		Overview of development, roles and uses of database for environmental purposes. Preparation of environmental data and information; analyses of cost, revenue, and efficiency in environmental management; the role of environmental database and information; principles of remote sensing and geographic information systems (GIS) and their application in environmental accounting; environmental auditing; concepts and principles of environmental accounting; disclosure of environmental accounting data at the enterprise level. Using state of the art software including ARC-INFO and ARCVIEW to display and manipulate digital map data.

		2948610 Society, Business, and Environment (3 credits)
		Introduction to the complexity of the real world policy making and encourage students to think constructively about environmental protection as a societal task; analyses of different players in the environmental debate and their roles; analyses of public policies as the outcome of political processes among different groups in pursuit of conflicting interests, expectations, and ideologies; the role of law and environmental management systems in improving the environmental performance of industry; the role of social institutions and organisations in environmental management; law and social practices in relation to the environment; business and environmental management, business policy towards the environment, business strategy and environmental management, environmental monitoring systems, environmental report; training, public relations and the participation of non-governmental organisations in environmental management.

		2948611 Seminars in Environmental Problems and Management (3 credits)
		The series of seminars by external and internal experts will focus on one specific subject, with an in-depth discussion of the issues involved.This is an opportunity for students to acquire knowledge from a professional experts and discuss about the potential and limitation of applying environmental economics to several real world problems such as land rights, water charge collection, community forests, sustainable agriculture, industrial pollution control, eco-tourism, biological diversity, and the global climate change.

		2948612 Special Topic in Environmental and Natural Resource Economics ( 3 credits)
		In depth study of a special topic in the field of environmental and natural resource economics, covering both theoretical and applied aspects. The students can choose to follow a wide range of courses organised by the Faculty of Economics or by other faculties of Chulalongkorn University. This course will allow students to specialise in a field in which they wish to work. The choice of study must be accepted by the faculty members, but students can follow their chosen route freely with the guidance from the faculty members.

		2948711 Individual Study in Environmental and Natural Resource Economics (3 credits)
		An individual student will propose a specific topic for an in-depth study in the environmental and natural resource economics under the supervision of a faculty member. The study will focus on both research methods and the critical analysis of data. Students can choose their own topics in agreement with the supervisors, who will be responsible for guiding and advising them. The topic should be an analysis of current environmental problems in the regional, national, or global level.

		2948811 Thesis (12 credits)
		Students choosing Plan A will prepare a Master's thesis associated with a relevant policy or field capable of attaining scholarly research and debate. The aims are to provide the opportunity to undertake an independent piece of work of a demanding nature, investigating in-depth of a subject that the student has a particular interest; to develop intellectual and technical skills; encourage the development of new approaches, forms of analysis, conclusions and policies; encourage the development of original contributions to knowledge and practice within the field of study; develop the methods necessary for acquiring various types of evidence needed in analysis and the effective use, presentation of the knowledge generated. The thesis will obviously vary in styles, contents, and methodologies. It is important to follow the Chulalongkorn University guidelines concerning the consistent format of Master's thesis. Also, there are some components that should normally be included; a clear statement of objectives; a rationale for the selection of the research problem; a critical discussion of the theoretical, substantial and methodological issues involved; an appropriate selection and use of methods of research; the collection of data and the appropriate analysis of data; a clear overall structure and development of the specific topic; a well developed conclusion, which may involve policy recommendations. The general content of the thesis has to be of publishable standard.

Library and Facilities

Students can use the facilities provided by the Economic Documentation and Information Centre (EDIC), which has over 15,000 volumes of books, journals, as well as related economic documents and publications. Information networks are available to support study and research; such as, DataStream Database network and University's Chulalinet.

Computer Services

		The Faculty provides two computer rooms for students with all computer facilities and some necessary technical assistance.
		Internet and email services. All students have access to the Internet with their individual email addresses.
		The Faculty also provides the most up-to-date GIS softwares to support the processing of spatial data for study and research.

Other Services

		Cafeteria and Canteen:	The Faculty of Economics has its own cafeteria with many selection of food. Moreover, there are many other cafeterias and canteens around the university campus.
		Bookstore:	The Chulalongkorn University Bookstore has variety of general books, textbooks, magazines, journals, etc. It is the largest bookstore in Thailand.
		Other services:	such as, Chulalongkorn consumer Cooperative, post office and many sporting facilities (swimming pool, tennis courts, football and indoor stadiums, etc.)

Admission Criteria

		An applicant should hold an internationally accredited degree in Economics or other related fields.
		The Admission committee would evaluate each candidate's potential for academic success and for subsequent contribution to the environmental sector in one's home country.

Documents Required

		Official transcript from university previously attended.
		Evidence of full or part time work experience, current position, career aspirations.
		Test of English as a Foreign Language (TOEFL) score of at least 500
		Two letters of recommendation from persons who are able to evaluate academic performance.
		Completed application form provided by the MSc Programme in Environmental and Natural Resource Economics.

Expenses * subject to revision

		Baht
	1. Application form	200
	2. Application fee	625
	3. Admission fee	500
	4. Field trip fee	13,500
	5. First-term tuition fee	65,000
	6. Second-term tuition fee	65,000
	7. Third-term tuition fee	65,000
	Total for one year	209,825