The course aims to provide an understanding of the economic principles related to the management of natural resources and the environment, with particular focus on regulation and public policy, as well as the broader legal challenges involved, such as potential sources of conflict and litigation.
Students will acquire the economic tools needed to analyze issues related to local and global pollution, climate change, the sustainable use of exhaustible and renewable natural resources, and the exploitation of extraterrestrial resources.
By the end of the course, students should be able to answer the following questions: What are the main differences between environmental resources and other economic goods? Why does the market fail to properly allocate environmental resources without appropriate regulation or clear property rights? What policy tools can public authorities use to address pollution and environmental degradation? How do different policies compare in terms of efficiency, intergenerational equity, and social justice? How is the optimal extraction rate of exhaustible and renewable natural resources determined? What are the implications of political decisions regarding the sustainable management of resources? What are the main economic issues related to the exploitation of space resources?
Students will acquire the economic tools needed to analyze issues related to local and global pollution, climate change, the sustainable use of exhaustible and renewable natural resources, and the exploitation of extraterrestrial resources.
By the end of the course, students should be able to answer the following questions: What are the main differences between environmental resources and other economic goods? Why does the market fail to properly allocate environmental resources without appropriate regulation or clear property rights? What policy tools can public authorities use to address pollution and environmental degradation? How do different policies compare in terms of efficiency, intergenerational equity, and social justice? How is the optimal extraction rate of exhaustible and renewable natural resources determined? What are the implications of political decisions regarding the sustainable management of resources? What are the main economic issues related to the exploitation of space resources?
teacher profile teaching materials
Resources, environment, and economic development
The theory of environmental externalities
Common resources and public goods
Circular economy
Part II: Economics and Policies for Pollution Control
Pigouvian taxes and subsidies
The trade of environmental permits
Compensation for environmental damage
Setting environmental standards and experimentalist governance
Market-based approaches to environmental protection
Part III: Climate Change
Global climate change: science and economics
Energy transition and adaptation strategies
Policy responses to climate change
Carbon credits and greenwashing
Climate justice and intergenerational equity
Part IV: Sustainability and Natural Resources
Agriculture, food, and the environment
Non-renewable resources: scarcity and abundance
Use and management of renewable resources
Part V: Space Economics
The economics of space: extraterrestrial resources and the challenge of space sustainability
Space externalities: managing space debris and environmental impacts
Other market failures in the exploitation of extraterrestrial resources
Additional teaching materiale on Moodle.
Programme
Part I: Introduction to Environmental and Natural Resource EconomicsResources, environment, and economic development
The theory of environmental externalities
Common resources and public goods
Circular economy
Part II: Economics and Policies for Pollution Control
Pigouvian taxes and subsidies
The trade of environmental permits
Compensation for environmental damage
Setting environmental standards and experimentalist governance
Market-based approaches to environmental protection
Part III: Climate Change
Global climate change: science and economics
Energy transition and adaptation strategies
Policy responses to climate change
Carbon credits and greenwashing
Climate justice and intergenerational equity
Part IV: Sustainability and Natural Resources
Agriculture, food, and the environment
Non-renewable resources: scarcity and abundance
Use and management of renewable resources
Part V: Space Economics
The economics of space: extraterrestrial resources and the challenge of space sustainability
Space externalities: managing space debris and environmental impacts
Other market failures in the exploitation of extraterrestrial resources
Core Documentation
• Turner, R.K, Pearce, D. W., e Bateman, I. “Economia Ambientale”, Il Mulino, 2003Additional teaching materiale on Moodle.
Reference Bibliography
• The Core Team - Economy 1.0- Unit 20 – The Environment • Harris J.M. and Roach B. (2022), Environmental and Natural Resource Economics: A Contemporary Approach, Routledge New York. • Tietenberg, T. “ Environmental and Natural Resource Economics”, Routledge, 2023.Attendance
Class attendance is required in accordance with university regulations.Type of evaluation
he assessment methods are designed to verify the achievement of the learning objectives and, in particular, the understanding of the fundamental concepts of environmental and natural resource economics, as well as the related analytical and applied tools. In assigning the final grade, several key factors will be taken into account. Among these, the level and depth of knowledge of the topics covered are of primary importance, together with the ability to critically analyze environmental and economic issues, demonstrating an informed understanding of their theoretical and practical implications. The use of specific and appropriate terminology, reflecting mastery of the economic and legal concepts addressed, will also be evaluated. These elements will jointly determine the final grade, reflecting a thorough assessment of the knowledge and skills acquired. Assessment in ordinary and extraordinary sessions The assessment consists of an oral examination covering the entire program. Registration: students are required to register for the exam through GOMP. Registration closes three days before the exam date, and late registrations will not be accepted. Ongoing assessment Presentations and active participation in practical activities (case study discussions, debates, and simulations) are foreseen. The evaluation will be completed with a short oral examination to be taken in one of the exam sessions immediately following the course delivery period. Registration: students are required to register for the exam through GOMP. Registration closes three days before the exam date, and late registrations will not be accepted.