Demand, supply and market equilibrium. Elasticity of supply and demand. Theory of consumer choice and demand. Theory of supply. The material Balance Approach. Sustainable development. The first theorem of welfare economics. Externalities. Public goods. Causes of market failure. Economic value of environmental assets. Methods for evaluating environmental values. Cost benefit analysis. Environmental policy instruments.
Begg D., Fischer S., Dornbusch R., Economia, McGraw-Hill Education, 2014
Turner K., Pearce D., Bateman I., Economia ambientale, Il Mulino, 2003
Learning Objectives
Knolewdge acquired: principles of political economy. Knowledge on the issues related to the sustainable management of natural resources and environmental policy instruments.
Competence acquired
Understanding of the environmental policy intruments.
Skills acquired (at the end of the course):
Students will be able to analyse the instruments of environmental politics.
Prerequisites
Teaching Methods
Lectures and practicals
Further information
Type of Assessment
The test will consist of an oral examination.
The evaluation will cover the ability to illustrate concepts and solve problems; the ability of critical reasoning; the competence in the use of specialized terms.
Course program
Demand, supply and market equilibrium. Elasticity of supply and demand. Theory of consumer choice and demand. Theory of supply. Circular flow of income. The material Balance Approach. Sustainable development. The first theorem of welfare economics. Externalities.Public goods. Causes of market failure. Economic value of environmental assets. Methods for evaluating environmental values. Cost benefit analyisis. Environmental policy instruments.