Course Topics
Environmental Economics Micro- and game-theoretical foundations, economics and the environment, the theory of externalities and public goods, Coase's theorem and negotiated solutions, overview of environmental policy instruments and criteria for their evaluation, regulatory policy, taxes and tradable certificates, international aspects of environmental economics, behavioral aspects of environmental economics Resource Economics Dynamic efficiency; non-renewable resources; transition to renewable resources; recyclable resources; water, land, and forest resources; collectively usable resources; sustainable economic development.

Propaedeutic courses
Previous attendance of an introductory course in microeconomics is strongly suggested, in order to properly follow the lectures.

Teaching format
Lectures, exercises, student presentations

Educational objectives
ILO (Intended Learning Outcomes) ILO 1 Knowledge and understanding ILO 1.1 the ability to apply the concepts of game theory to the economic behaviour of public and private actors; ILO 1.2 the ability to understand the role of governments in market economies; ILO 1.3 the ability to understand complex economics texts in the three languages of instruction; ILO 1.4 Recognise and understand the conditions necessary for sustainable economic development, taking into account the environment and natural resources; ILO 2 Ability to apply knowledge and understanding ILO 2.1 the ability to communicate fluently and spontaneously with native speakers on economic topics; ILO 2.2 the ability to understand the role of the state in relation to various economic policy issues and to consider possible economic policy solutions; ILO 2.3 the ability to understand the impact of the economy on the environment and resources and to develop strategic alternatives; ILO 3 Making judgements ILO 3.1 Acquire the necessary judgement and methodological tools to critically analyse data, sources, assumptions and implications of scientific practice and the political, ethical and legal contexts in which economic phenomena are situated and with which they interact. ILO 4 Communication skills ILO 4.1 Proficiency in written and spoken Italian, German and English, including the translation of these languages. Intercultural competence. Conceptual conciseness, ability to capture facts in writing, especially for scientific and science-based texts ILO 5 Learning skills ILO 5.1 Fostering critical thinking and analytical skills to recognise complex problems in their long-term dynamics and in the diversity of their - also ethical - implications

Assessment
Both the written exam and the course project are mandatory. The exam addresses topics covered in the lecture. For attending students, the project may be done in groups of two and consists of two parts: a seminar paper (about 10-15 pages) to be submitted 7 days before the exam and a presentation of the main ideas (approx. 10-15 minutes) during the semester. Attending students must define their paper topic by November 30th. Non-attending students write their seminar paper independently and submit it 7 days prior to the exam date. Instructors must approve the paper topic at least 30 days before the exam date, otherwise any paper submitted is not valid. In addition, non-attending students may have to answer additional exam questions for not having to present their paper. The written exam counts for 60% and the course project for 40% towards the final grade. ILO 1-2 are assessed with the written exam. ILO 3-5 are assessed through the course project.

Evaluation criteria
The written exam assesses the quality and clarity of answers, language skills, and ability to accurately relate to the topics covered. The course project assesses creativity, critical thinking, synthesis skills, judgment.

Required readings

Phaneuf, D. & T. Requate. "A course in environmental economics". Cambridge University Press, 2017. 

Tietenberg, T. und Lewis, L. 2015. "Environmental and Natural Resource Economics". 10th Edition.

Further information
For the written exam, textbooks or other teaching materials or electronic devices are not allowed. Dictionaries without notes and simple calculators are permitted.