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Environmental and Natural Resource Economics
(1
º Sem
2017/2018)
Code:
01109
Acronym:
01109
Level:
1st Cycle
Basic:
No
Teaching Language(s):
English, Portuguese
Friendly languages:
Be English-friendly or any other language-friendly means that UC is taught in a language but can either of the
following conditions:
1. There are support materials in English / other language;
2. There are exercises, tests and exams in English / other language;
3. There is a possibility to present written or oral work in English / other language.
1
6.0
0.0 h/sem
36.0 h/sem
0.0 h/sem
0.0 h/sem
0.0 h/sem
0.0 h/sem
1.0 h/sem
37.0 h/sem
113.0 h/sem
0.0 h/sem
150.0 h/sem
Since year
2017/2018
Pre-requisites
At least one previous course in Microeconomics is highly recommended.
Objectives
This unit is focused on the many facets of the interaction between environmental quality and economic agents. It is important to study corrective mechanisms that improve well-being and contribute to sustainability. The goal is for students to frame environmental problems in an economic perspective, so as to allow a more complete and rigorous analysis of such problems.
Program
1. Introduction and Fundamentals of Environmental Economics 1.1 Market Failures (externalities) 1.2 The Economics of Pollution 1.3 Decision support techniques 2. Environmental Instruments and Policies 2.1 Pollution control: targets, instruments and uncertainty 2.2 Valuing the Environment: Cost-Benefit-Analysis and Environmental Valuation 2.3 International Environmental Problems 3. Natural Resource Economics 3.1 Sustainability and Green Growth 3.2 Optimal Non-renewable Resource Management 3.3 Optimal Renewable Resource Management 3.4 Natural Resource Wealth and Development
Evaluation Method
There are two assessment methodologies: a) Continuous assessment: - minimum of 80% attendance - a group report on an environmental policy topic (50%) - written exam at the end of the term (50%), whose mark cannot be below 8v. in order to get a positive grade. b) Final exam: (100%)
Teaching Method
Each student should acquire analytical, information gathering, written and oral communication skills, according to the established learning goals. The following learning methodologies (LM) will be used: 1. Expositional, for presentation of the theoretical reference frames 2. Participative, with analysis and exercises resolution 3. Active, with the realization of individual and group works 4. Self-study, related with autonomous work by the student.
Observations
Students are expected to participate actively throughout the semester. This means studying before classes, solving the problem sets, and complying with the course assessment.
Basic Bibliographic
Textbooks: Field, B. and M. Field (2014), Environmental Economics: an Introduction, 6th Edition, New York, NY, McGraw-Hill. Perman, R., M. Common, J. McGilvray, Y. Ma (2011), Natural Resource and Environmental Economics, 4th edition, Pearson International Edition. Papers: James, A. (2015), The resource curse: A statistical mirage?. Journal of Development Economics, 114, 55-63. Smith, B. (2015), The resource curse exorcised: Evidence from a panel of countries. Journal of Development Economics, 116, 57-73. Smulders, S., Toman, M., & Withagen, C. (2014), Growth theory and 'green growth'. Oxford Review of Economic Policy, 30(3), 423-446. Mideksa, T. K. (2013), The economic impact of natural resources. Journal of Environmental Economics and Management, 65(2), 277-289.
Complementar Bibliographic
Stavins, Robert (2012), Economics of the Environment: Selected Readings, 6th Edition, W.W: Norton & Company. Tietenberg, T. and L. Lewis (2012), Environmental and Natural Resource Economics, 9th Edition, Pearson International Edition. Endres, A. (2011) Environmental Economics: Theory and Policy, Cambridge University Press. Hackett, S. (2011), Environmental and Natural Resources Economics: Theory, Policy and the Sustainable Society, 4th Edition, M.E. Sharpe. Keohane, N. and Olmstead, S. (2007), Markets and the environment, 2nd Edition, Island Press.
There may be additional recommended readings for specific topics.
