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.
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 economic instruments for environmental protection.
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.
Teaching Methods
Lectures and practicals
Type of Assessment
A test will be given halfway through the course to verify the knowledge acquired in the first part of the programme. Students who pass the mid-term test will be expected to take the final examination only on the second-part of the programme. Students who instead do not take the mid-term test or who fail to pass the test will be expected to take the final examination on the entire programme. The first test will consist of a written test. The final test will consist of an oral examination.
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.