Course Description
The course aims at providing students with the language and introductory knowledge of economic analysis applied to the environmental context, within a sustainability science perspective (i.e. the integration of the economic, social and environmental dimensions). The course starts from the fundamentals of microeconomics and then it moves to the bases and the main tools of economic analysis, evaluation methods and the principles of management of natural and environmental resources. Emphasis is on the evaluation of the services of the environment and their role for social and economic development.
Case studies and examples will be used to illustrate the main concepts and open issues, with the "Venice case" used as a reference throughout the course. Climate change will be explored in more detail as an example of an international environmental problem. The course will provide students with a working knowledge of the economic approaches for analyzing and managing the environment, as well as with the opportunity to enrich their own economic view about the environment and sustainability.

Learning Outcomes
1. Knowledge and understanding
1.1 Understand the main economic, social and environmental dynamics that contribute to defining possible solutions to environmental problems
1.2 Know and understand the principles and the main approaches to environmental economics (especially in microeconomic terms) and to the economic evaluation of environmental resources.
1.3 Know and understand the limits of the markets and their failures
1.4 Understand the links between development, well-being and exhaustible and renewable resources.
1.5 Understand the role of monetary and non-monetary valuation methods in decision-making processes
2 Ability to apply knowledge and understanding
2.1 Understand and represent the complex nature of environmental problems, drivers and implications in economic, social and territorial terms, providing economic actors and decision makers with conceptual models for analyzing and solving environmental problems
2.2 Analyze the flows and budgets that characterize the relationships between economy and the environment
2.3 Adopt a perspective based upon complex systems and system dynamics to develop cognitive and possibly operational model
2.4 Apply methods of evaluation of non-market goods and services
3 Ability to judge
3.1 Reflect on the relationships between economic activities and the environment with a minimum set of economic analysis methods and tools
3.2 Reflecting on sustainability as a criterion for long-term human development

Syllabus
- The logic and ethics of economics
- The concept and science of sustainability
- The market, demand and supply, consumers and producers
- Interdependence between economic and environmental systems
- The market and ecosystems
- Environmental policy instruments
- The general problem of - monetary and non-monetary - environmental valuation
- Relationships between development, welfare and renewable and non-renewable resources

Evaluation
15% attendance and contribution to discussion
30% oral presentations
55% final research paper:

Presentations and papers will be defined through individual assignments agreed before the mid-term break.

Teaching methods
The course foresees lecture-style presentations making use of powerpoint slides made available to students through the Moodle site of the course, seminars (given also by external experts), homework and students’ presentations.
The blog functionality provided by the Moodle platform is used for on-line communication between students and the professor.

Bibliography
Teaching materials made available by the instructor through the Moodle web site with the following main reference books:
COMMON, MICHAEL AND SIGRID STAGL, (2012), Ecological economics: an introduction, Cambridge University Press
The Core Team. The Economy. Selected chapters. Freely available at undefined

Course materials
Course materials (powerpoint slides, homework, forum, etc.) can be found in the VIU Moodle web site: https://elearning.univiu.org