Economics of the Environment

Code:

1EC403

Acronym:

EA

Keywords
Classification	Keyword
OFICIAL	Economics

Instance: 2018/2019 - 2S

Active?	Yes
Responsible unit:	Agrupamento Científico de Economia
Course/CS Responsible:	Bachelor in Economics

Cycles of Study/Courses

Acronym	No. of Students	Study Plan	Curricular Years	Credits UCN	Credits ECTS	Contact hours	Total Time
LECO	129	Bologna Syllabus since 2012	3	-	3	42	81

Teaching language

Portuguese and english

Objectives

This course will analyze the links between economics and the environment, both on a global scale and in the behavior of economic agents, with particular emphasis on companies. Our behavior as consumers/producers influences the state of the environment; changes in environmental quality and the increasing scarcity of natural resources have negative and sometimes irreversible consequences in the economy. The economic crisis has as its basis an "environmental crisis" for which there is time to find answers. With this purpose, the main current themes of environmental economics will be presented. The theoretical frameworks will be accompanied with the analysis of concrete experiences.

Learning outcomes and competences

The subjects taught have mainly the intention of covering the different central themes of Environmental Economics. At the end of the semester the students should have acquired sufficient skills to develop any of these areas, applying the lessons learned in the practice, and being able to solve new challenges.

Working method

Presencial

Program

1.       Environment and Economics: Introduction: Interaction; Basic concepts: Notion of Environmental and Natural Resource Economics. 

2.       The mainstream in environmental economics: Central concepts - Common pool resources; Externality. 

3.    Total economic value of the environment. Monetary evaluation of the environment. Theoretical fundamentals, most common evaluation methods (substitution and hypothetical markets). 

4.        Instruments of environmental politics - economic perspective: Social efficient level of pollution; Command-and-control approach; Pollution taxes and charges; Subsidies; Property rights and negotiations; Marketable Pollution Permits. Green Tax Reform and Double Dividend. Markets for tradable Allowances: European market for CO2 allowances – origins, main features, challenges. Voluntary approaches: environmental management and green marketing: firms and financial sector.    

5. Sustainable development: weak and strong sustainability; sustainability indicators.

Mandatory literature

Field, Barry C.; Field, Martha K.;, ; Environmental Economics – An Introduction , McGraw-Hill, 2002 (3rd ed.)
Pearce, David W.; Turner, R. Kerry; Economics of Natural Resources and the Environment, Harvester Wheatsheaf, 1990

Complementary Bibliography

Määttä, Kalle:; Environmental taxes : an introductory analysis, Edward Elgar, 2006

Teaching methods and learning activities

The methodology is based on conventional teaching with both theoretical and practical issues, giving particular importance to the participation of the students in the classes and their ability of critical positioning regarding the topics under consideration.

keywords

Social sciences > Economics > Environmental economics

Evaluation Type

Distributed evaluation with final exam

Assessment Components

Designation	Weight (%)
Teste	100,00
Total:	100,00

Amount of time allocated to each course unit

Designation	Time (hours)
Estudo autónomo	120,00
Frequência das aulas	42,00
Total:	162,00

Eligibility for exams

Conditions: 1. the students have to be present at least at 50% of the classes (to be accepted to final exam) 2. or more than 75% (to be accepted to distributed assessment)

Calculation formula of final grade

Distributed assessment: 2 tests: The final mark is calculated as follows: 40% * Test1 + 60% * Test2.
Each test should reach a mark higher than 6.0 (in 20).

Possibility to have a bonus for participating in the class, till 1.5 points in 20:

Aspects to consider in getting the bonus: to attend over 90% of classes, to prepare and pay attention to classes, frequency and quality of intervention.

Observations

Students are not allowed to not use cell phones and other electronic devices, which may disturb the functioning of the class, except with allowance of the teacher.