OVERVIEW

"Environmental economics" illustrates the extensions of economic theory in three directions:

• the management of optimal resource allocation problems in the presence of market failures (environmental economics);
• the interface between ecological and economic systems and the introduction of bio-ecological constraints and feedback (ecological economics);
• the interface between physical and economic systems and the introduction of physical-technical constraints in resource and energy management (circular economics).

The perspective is that of public economics. The theoretical tools and methods cdiscussed in classroom are pre-requisite and foundation for decision-making processes that are the responsibility of different levels of government.

AIMS AND CONTENT

LEARNING OUTCOMES

The course aims to provide a theoretical framework for interpreting the links between the economic system and the environment and for analyzing the decision-making process of the public operator from both a normative and a positive approach in order to deal with environmental problems deriving from economic activities.

AIMS AND LEARNING OUTCOMES

The learning objective is knowledge and understanding of methods and tools for analyzing phenomena related to environmental degradation and externalities, resource use and their interactions with the functioning of the economy and the process of economic growth and development.

Intended Learning Outcomes to be ascertained are:

• Knowledge and Understanding: acquiring adequate knowledge and ability to understand (a) the relationships between environmental preservation, pursuit of economic efficiency and market failure (b) strategies for arriving at a synthesis between the ability to promote economic growth (through the optimal allocation of resources and goods) and the ability to preserve the ecological basis of development itself (sustainable development);
• Ability to apply knowledge and understanding: being able to apply knowledge and evaluate, critically and independently, the role of environmental policy and public intervention in guiding and regulating markets and actors toward the goal of sustainability: evaluate how public and private environmental choices affect the distribution of resources and income on the national economy, between rich and poor countries of the world, and the allocation of resources to future development; evaluate independently the main economic effects of alternative hypotheses of environmental instruments and policies (environmental taxation, pollution certificates, green economy, etc.);
• Autonomy of judgment: knowing how to use the knowledge acquired with autonomous evaluation skills and ability in different application contexts. Upon completion of the course, students will achieve autonomous judgment skills and a critical spirit on environmental policy proposals and choices. They will be able to analyze the main economic effects of public and private choices in environmental matters, both from the point of view of equity and efficiency;
• Communication skills: to acquire the technical language typical of the discipline in order to communicate clearly and unambiguously with specialist and non-specialist interlocutors: companies and institutions that relate to environmental and economic variables in formulating their decisions;
• Learning skills: to develop adequate learning skills that will enable students to continue to independently explore the main themes of the discipline especially in the work contexts in which they will be working.

PREREQUISITES

There are no specific requirements

TEACHING METHODS

The teaching methodology includes lectures, seminars, exercises to be carried out at home and/or in the classroom, and group work.

Regarding organizational aspects (live and/or online teaching), all necessary information and any updates due to extraordinary situations will be provided on the AulaWeb platform.

In any case, the University of Genoa regulations regarding the conduct of teaching apply.

SYLLABUS/CONTENT

Topics covered include:

• Scarcity, optimal allocation, and the environment
• An integrated environment-economy model: ecosystem services
• Resources and residues
• Scarcity and resource stock management
• Market failures
• Environmental externalities
• Tools for controlling environmental externalities
• Environmental valuation
• Cost-benefit analysis

RECOMMENDED READING/BIBLIOGRAPHY

To supplement the slides, made available regularly and in advance of the lectures on Aulaweb, you can consult the text R.K. Turner, D.W. Pearce, I. Bateman, Economia Ambientale, 2003, Il Mulino.

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

TEACHERS AND EXAM BOARD

LESSONS

LESSONS START

First Semester from September 2025 according to the published timetable

Class schedule

The timetable for this course is available here: Portale EasyAcademy

EXAMS

EXAM DESCRIPTION

The Examination involves a written test. The examination test is structured with open questions and numerical exercises. Each answer is worth a maximum of 5/30 or 10/30, depending on the type. The test is passed by scoring at least 18/30.

The lecturer reserves a subsequent oral assessment if he/she has doubts or reservations about the overall evaluation of the written test.

There is no limitation on the number of exam sessions a student may attend.

ASSESSMENT METHODS

For the verification of the expected learning outcomes, the written test is structured to specifically assess knowledge and understanding and ability to apply it, autonomy of judgment and communication skills through the formulation of open-ended questions in which the ability to autonomously evaluate and critical spirit on proposals and choices of Environmental Economics and Policy inspired by the issues on the agenda of policy makers and in the current economic debate is required.

Parameters of evaluation include: quality of exposition; ability to formalize also in graphical or analytical terms the exposition; use of appropriate tencical language; autonomy of thought and capacity for critical judgment.

FURTHER INFORMATION

For more information contact the lecturer.