ENVIRONMENTAL ECONOMICS AND POLICY
Learning outcomes of the course unit
a) Knowledge and Understanding
The course aims to provide knowledge of the compatibility and
interaction between economy and environment, in particular as regards
the use of common resources and sustainable development. The
approach starts by widening the notion of "economic system" to
understand those parts traditionally excluded in economics textbooks,
due to the non-applicability of market mechanism.
b) Ability to apply knowledge and understanding
The aim of the course is to equip the student to solid theoretical tools in
order to analyze the complex relationships of the economic system with
its environment, including the social relations and collective preferences
in relation to environmental values. This will allow the student to manage
in their working and professional life the increasingly strict environmental
c) Making judgments
The object of the course is to provide tools for independent judgment
regarding the interpretation and management of economic facts that go
beyond the mainstream micro and macro textbooks.
d) Communication skills
This course is designed to provide suggestions and ideas for many issues
widely discussed in various institutional and organizational levels.
e) Learning skills
The course aims to provide the analytical tools to engage critically with
the complex picture of environmental issues in the global economy.
Basic elements of micro- and macroeconomics
Course contents summary
1. Economy and environment: two parts of a whole
2. Natural resources and market failure
3. Willingness to pay and Cost Struccture
4. Efficiency and Sustainability.
5. Public Policy for Natural Resources.
6. Analysis and Evaluation of Natural Resources.
7. The policy of sustainable resources management
8. Economic models of natural resources
9. Non-renewable resources: measuring the economic value and
10.Renewable resources models: fresh water management and
Barry C. Field, NATURAL RESOURCE ECONOMICS, An Introduction.
Waveland Press Inc., 2015
Lectures and discussions.
Reading, analysis and presentation in a workgroup, from recent literature.
Every document will be available on Elly platform, if part of programme.
Assessment methods and criteria
The final exam is written. There are three open questions, with similar weight, with a time limit of one hour.
- Making judgements and Communication and Learning skills
- One question deals with theoretical or empirical topics in broad terms, the other concerns an in-depth study labelled in the syllabus as box.
- Answers must be rigorous, pertinent and complete, because the aim is toshow that a good understanding has been achieved.
Workgroup for attending students will be weighted as 10/30, and 20/30 will be marked for written exam.
All other candidates will be weighetd on 30/30 marks.
No additional material is needed to take the exam, but a pen. Exam results will be available no later than one week on Esse3 platform, and will be automatically sent via e-mail at the institutional e-mail address of the student.
On-line registration is compulsory.
Not attending students will only have to rely on this syllabus to prepare for the exam.
The syllabus for attending students will be slightly different, according to study cases and slides used during lectures.
Please note that to attest attendancy a time-randomly raising of signatures would be collected in classroom.
Please check teacher's webpage for updates on dates of exams, office hours and so on.