Economics of the Environment

Code:

1EC403

Acronym:

EA

Keywords
Classification	Keyword
OFICIAL	Economics

Instance: 2021/2022 - 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	146	Bologna Syllabus since 2012	3	-	3	42	81

Teaching language

Portuguese and english

Objectives

This UC analyzes the links between Economics and the 
Environment, which are fundamental today and have an 
increasing relevance. The behaviors of the various 
economic agents involved are analyzed, as well as their 
consequences. The main methods of environmental 
assessment are explored. Environmental policy strategies
to internalize environmental externalities are analyzed.

Learning outcomes and competences

At the end of the course, students are expected to be 
familiar with the basic concepts of Environmental 
Economics. They must also be able to critically analyze 
the existence of environmental problems, the challenges 
they entail, and the possible policy or market solutions 
to these problems.

Working method

Presencial

Program

1.Introduction: interaction between Economics and the 
Environment;Basic concepts.

2.The current paradigm and the circular economy

3.Central concepts in mainstream environmental economics:
 Tragedy of the commons; Common pool resources; 
 Externalities.
     
4.Total economic value of the environment:
 Monetary evaluation; Theoretical fundamentals;
 most common evaluation methods (substitution and 
 hypothetical markets). 

5.Environmental policy instruments:
 Socially efficient level of pollution; 
 Command-and-control approach; 
 Pollution taxes and charges; Subsidies. 
 Green Tax Reform and Double Dividend.     

6.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 without final exam

Assessment Components

Designation	Weight (%)
Teste	70,00
Trabalho escrito	30,00
Total:	100,00

Amount of time allocated to each course unit

Designation	Time (hours)
Estudo autónomo	32,00
Frequência das aulas	39,00
Trabalho de investigação	10,00
Total:	81,00

Eligibility for exams

Investigation work and final test.

Calculation formula of final grade

Distributed assessment: Final grade = 30% (research work and its oral apresentation)+ 70% (final test)

For this regime, students must attend a minimum of 70% of classes. Attendance and participation in classes will give students a bonus that can reach one point (1/20).
Minimum grade in the test: 6.0 (in 20).

Examinations or Special Assignments

Research work.

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.