ISCTE-IUL > Education > LE

Environmental and Natural Resource Economics (2 º Sem 2019/2020)

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.

Semester	ECTS Credits	Theoretical Lesson (T)	Theoretical and Pratical Lesson (TP)	Practical and laboratorial lesson (PL)	Seminary (S)	Field Work (TC)	Training Period (E)	Tutorial Orientation (OT)	Contact Hours	Autonomous Work	Others (O)	Total Load Hours [?]Contact Hours + Autonomous Work
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	2018/2019
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 and the Optimal Environmental Quality 1.3 Methods to Analyse Environmental Issues (Decision support techniques and Cost-Benefit Analysis) 2. Environmental Instruments and Policies 2.1 Environmental Valuation Methods 2.2 Pollution control: Criteria and Instruments of Environmental Policy (informal, standards, emissions charges, subsidies, transferable discharge permits) 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 Renewable Energies 3.5 Economics of the Ocean 3.6 Economics of the Climate Change
Evaluation Method	There are two assessment methodologies: a) Continuous assessment: - minimum of 2/3 attendance - group report (40%), whose mark cannot be below 7,5v. in order to get a positive grade. - written exam at the end of the term (60%), whose mark cannot be below 7,5v. in order to get a positive grade. - participation in class (including workouts resolution) is highly encouraged (can give a bonus of 1v.) 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	Books: Field, B. and M. Field (2017), Environmental Economics: an Introduction, 7th Edition, New York: McGraw-Hill. Perman, R., M. Common, J. McGilvray, Y. Ma (2011), Natural Resource and Environmental Economics, 4th edition, Pearson International Edition. Papers: Kaika and Zervas (2013), The environmental Kuznets Curve (EKC) theory - Part A: Concept, causes and the CO2 emissions case, Energy Policy, Article in Press. Abdmouleh, Alammari and Gastli (2015), Review of policies encouraging renewable energy integration & best practices, Renewable and Sustainable Energy Reviews, 45, pp. 249-262. Del Rio (2012), The dynamic efficiency of feed-in tariffs: The impact of different design elements, Energy Policy, 41, pp. 139-151. OECD (2016), The Ocean Economy in 2030, OECD Publishing, Paris. Goulder and Pizer (2006), The Economics of Climate Change, Resources for the Future - Discussion Paper, June.
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. Koldstad, C. (2010), Environmental Economics, 2nd edition, Oxford University Press. Keohane, N. and Olmstead, S. (2007), Markets and the environment, 2nd Edition, Island Press. Pierce, D. and K.R. Turner (1991), Economics of Natural Resources and the Environment, John Hopkins Press, Baltimore. Dinda (2004), Environmental Kuznets Curve Hypothesis: a Survey, Ecological Economics, 49, pp. 431-455. Menanteau, Finon and Lamy (2003) Prices versus quantities: choosing policies for promoting the development of renewable energy, Energy Policy, 31, pp. 799-812. Stern Review -The Economics of Climate Change. There may be additional recommended readings for specific topics.