OVERVIEW

The course is structured around three fundamental theoretical problems in resource economics: (I) market failures that result from the extraction of exhaustible resources (II) those that affect markets on which these resources are traded and, finally, (III) the footprint determined by the use of these resources. For all these issues, energy is a key example and, as a result, electricity and gas will be used as the leitmotif of the learning path.

AIMS AND CONTENT

LEARNING OUTCOMES

Students will receive a graduate-level introduction to the economic theories, models, and empirical evidence of modern macroeconomics, with particular reference to the economics of growth. By the end of the course, students will have acquired the knowledge necessary to summarize, reproduce, and manipulate various macroeconomic models, to derive and analyze the associated policy recommendations, and to engage with existing empirical evidence. With this knowledge, students will be able to use theoretical and applied macroeconomic techniques to understand the proximate causes of growth, the role of physical and human capital accumulation and technological progress, and the influence of public policies and changes in economic fundamentals. Furthermore, students will acquire the basic conceptual and mathematical tools necessary to read and comprehend the contemporary literature in theoretical and applied macroeconomics.

AIMS AND LEARNING OUTCOMES

The learning objective is to develop knowledge and understanding of the tools for the analysis of phenomena related to the management of natural resources and the functioning of energy markets.

Expected Learning Outcomes to be ascertained are:

-  Knowledge and understanding of the main problems associated with the exploitation of resources: the market failures that result from the extraction of exhaustible resources; those affecting the markets on which these resources are traded; the footprint that is left by the use of these resources. For all these issues, energy (electricity and gas) is a case in point

- Ability to apply knowledge and understanding: ability to evaluate, critically and autonomously, issues of natural resource economics

- Autonomy of judgment: ability to apply knowledge and evaluate independently and with skill in different application contexts

- Communication skills: command of the technical language typical of the discipline in order to communicate clearly and unambiguously with specialist and non-specialist interlocutors: companies and institutions that deal with the use of resources and energy markets in formulating their decisions

- Learning skills: development of adequate learning skills that will enable students to continue to explore the main topics of the discipline independently, especially in the working contexts in which they will operate.

TEACHING METHODS

The teaching methodology includes lectures, seminars, case studies, exercises to be completed at home and/or in class, and group work.

For students with disabilities, specific learning disorders (SLD), or special educational needs (SEN)

Students with disabilities, SLD, or SEN are reminded that, in order to request exam accommodations, they must first upload their certification to the University website at servizionline.unige.it, in the “Students” section.

The documentation will be reviewed by the University Office for the Inclusion of Students with Disabilities and SLD.

At the beginning of the course, students are advised to contact the instructor to agree on examination arrangements that, while respecting the learning objectives of the course, take individual learning needs into account.

To request compensatory tools or exemption measures, students with disabilities or SLD must complete the dedicated webform available at https://unige.it/disabilita-dsa at least 7 working days before the exam.

Students with SEN may instead submit their request by email to the instructor, copying the Department Contact Person, Prof. Elena Lagomarsino, at inclusione.economia@unige.it, and the Inclusion Office at inclusione.studenti@info.unige.it. Requests will be assessed by the instructor and may be approved or rejected.

SYLLABUS/CONTENT

The course will be organized into a series of thematic units:

1) Introduction to the issue of natural resources and to the joint environmental-economic modelling framework, with a focus on optimization under environmental constraints.

2) Valuation of natural resources and non-market valuation: theory and practice of the main valuation methods, with empirical applications using data analysis software.

3) Models for the efficient management of exhaustible resources, with specific applications to mineral, forest and marine resources, freshwater, and land use.

4) In-depth focus on the energy sector: resources, market characteristics, market failures, and supply.

RECOMMENDED READING/BIBLIOGRAPHY

The reference texts and materials supporting the lectures will be made available on the Aulaweb at the beginning of the lessons.

All students are invited to periodically consult the page for this course on the AulaWeb e-learning portal (accessible from the University website or at http://www.aulaweb.unige.it/). All further information and materials relating to this teaching are published exclusively on that site.

TEACHERS AND EXAM BOARD

LESSONS

Class schedule

The timetable for this course is available here: Portale EasyAcademy