|
|
JOHN CABOT UNIVERSITY
COURSE CODE: "EC 380"
COURSE NAME: "Environmental Economics"
SEMESTER & YEAR:
Spring 2025
|
SYLLABUS
INSTRUCTOR:
Rodrigo Salcedo Du Bois
EMAIL: [email protected]
HOURS:
MW 8:30 AM 9:45 AM
TOTAL NO. OF CONTACT HOURS:
45
CREDITS:
3
PREREQUISITES:
Prerequisites: EC 201, EC 202
OFFICE HOURS:
|
|
COURSE DESCRIPTION:
This course addresses the main economic problems concerning the environment, to equip students to analyze policies concerning water and air pollution, energy, climate change, and human health. This course combines theoretical analysis with discussions of such specific topics as sustainable development and international cooperation, renewable energy, and state-of-the-art production technology.
|
SUMMARY OF COURSE CONTENT:
Environmental economics is a well-established and multidimensional branch of economic studies. Production and consumption of socio-economic systems require natural resources as inputs and generate (other than goods and services) pollution/waste as output. Policy makers should consider the negative externalities associated to such flows while often fail to understand the fundamental drivers behind renewable resource extinction and are over-optimistic when it comes to the environmental consequences of unsustainable economic growth. This course aims to provide an introduction from the perspective of economics of public policy issues regarding the management of natural resources and the protection of environmental quality and covers both conceptual and methodological topics and recent applications.
The topics covered will include: environmental externalities and market failures, economics of pollution control (the efficient level of environmental pollution, taxes, tradeable permits, command-and-control), the economics of natural resource use (non-renewable resources as well as renewable resources), valuation of ecosystem services, economics of renewable energy and waste management, the economics of climate change and the principles of sustainable development.
|
LEARNING OUTCOMES:
At the end of this course students will understand the main dynamics of environmental economics. They will have the awareness of how principles of sustainable development and optimal management of natural resources should be included in the analysis of all the micro and macroeconomic topics studies so far and in the next graduate studies of economics. A rigorous knowledge of the theory of policy instruments to correct the environmentally related market failures will be integrated with the study of existing international policy and market-based solutions.
|
TEXTBOOK:
| Book Title | Author | Publisher | ISBN number | Library Call Number | Comments | Format | Local Bookstore | Online Purchase |
| Natural Resources and Environmental Economics | Perman, R; Ma, Y; Common, M; Maddison, David; Mcgilvray, J | Pearson; 4th edition (June 23, 2012) | 978-0321417534 | | | | | |
|
REQUIRED RESERVED READING:
RECOMMENDED RESERVED READING:
| Book Title | Author | Publisher | ISBN number | Library Call Number | Comments |
| Georgescu-Roegen versus Solow, Stiglitz | Stiglitz, J., 1997 | Ecological Economics | | | |
| Georgescu-Roegen versus Solow:Stiglitz | Solow, G., 1997 | Ecological Economics | | | |
| Georgescu-Roegen versus Solow:Stiglitz | Daly, H., 1997a,b | Ecological Economics | | | |
| Climate Change 2022: Impacts, Adaptation and Vulnerability | Intergovernmental Panel on Climate Change, Working Group II | IPCC | 9781009325844 | | |
| Economic value of tropical forest to coffee production | Ricketts, T. et al, 2004 | Proceedings of the National Academy Sciences | | | |
| The demand for air quality: evidence from the housing market in Bogotá, Colombia | Carriazo, F, Gomez-Mahecha, J., 2018 | Environment and Development Economics | | | |
| The Tragedy of the Commons | Hardin, G., 1968 | Science | | | |
| Revisiting the Commons: Local Lessons, Global Challenges | Ostrom et al., 1999 | Science | | | |
| The Economics of Biodiversity: The Dasgupta Review | Dasgupta, P. | London: HM Treasury | 978-1-911680-29-1 | | |
| Ecosystems, Externalities, and Economies | Crocker T., Tschirhart, J., 1992 | Environmental and Resource Economics | | | |
| The value of the world's ecosystem services and natural capital | Costanza et al., 1997 | Nature | | | https://doi.org/10.1038/387253a0 |
| Ecosystems and Human Well-being. A Framework for Assessment | Millenium Ecosystem Assessment | Island Press | 1559634030 | | |
| Ecological Economics | Daly, H., Farley, J. | Island Press | 1559633123 | | |
| Weak versus Strong Sustainability. Exploring the Limits of Two Opposing Paradigms, Fourth Edition | Eric Neumayer | Edwar Elgar Publishing | 9781781007075 | | |
|
GRADING POLICY
-ASSESSMENT METHODS:
| Assignment | Guidelines | Weight |
| Evaluation 1 | Project: Ecosystem Services Valuation applied to investment project economic assessment | 20 |
| Evaluation 2 | Case study on optimal use of natural resources. | 20 |
| Evaluation 3 | Project: White paper/Macro report. | 20 |
| Participation | In-class activities, participation in forums, discussions. | 10 |
| Final Exam | Composed by 4 sections, 10 multiple choice questions plus 3 short case studies to be solved using the concepts, definitions and tools developed in class. The exam will cover all the material taught up until the last day of the course. | 30 |
-ASSESSMENT CRITERIA:
AWork of this quality directly addresses the question or problem raised and provides a coherent argument displaying an extensive knowledge of relevant information or content. This type of work demonstrates the ability to critically evaluate concepts and theory and has an element of novelty and originality. There is clear evidence of a significant amount of reading beyond that required for the course.
100.0 - 97.0 = A+
96.9 - 92.0 = A
91.9 - 90.0 = A-
BThis is highly competent level of performance and directly addresses the question or problem raised. There is a demonstration of some ability to critically evaluate theory and concepts and relate them to practice. Discussions reflect the student's own arguments and are not simply a repetition of standard lecture and reference material. The work does not suffer from any major errors or omissions and provides evidence of reading beyond the required assignments.
89.9 - 87.0 = B+
86.9 - 82.0 = B
81.9 - 80.0 = B-
CThis is an acceptable level of performance and provides answers that are clear but limited, reflecting the information offered in the lectures and reference readings.
79.9 - 77.0 = C+
76.9 - 72.0 = C
71.9 - 70.0 = C-
DImportant information is omitted and irrelevant points included. In effect, the student has barely done enough to persuade the instructor that s/he should not fail.
69.9 - 67.0 = D+
66.9 - 62.0 = D
61.9 - 60.0 = D-
FThis work fails to show any knowledge or understanding of the issues raised in the question. Most of the material in the answer is irrelevant.
59.9 - 0.0 = F
-ATTENDANCE REQUIREMENTS:
You cannot make-up a major exam (midterm or final) without the permission of the Dean’s Office. The Dean’s Office will grant such permission only when the absence was caused by a serious impediment, such as a documented illness, hospitalization or death in the immediate family (in which you must attend the funeral) or other situations of similar gravity. Absences due to other meaningful conflicts, such as job interviews, family celebrations, travel difficulties, student misunderstandings or personal convenience, will not be excused. Students who will be absent from a major exam must notify the Dean’s Office prior to that exam. Absences from class due to the observance of a religious holiday will normally be excused. Individual students who will have to miss class to observe a religious holiday should notify the instructor by the end of the Add/Drop period to make prior arrangements for making up any work that will be missed.
|
|
|
ACADEMIC HONESTY
As stated in the university catalog, any student who commits an act of academic
dishonesty will receive a failing grade on the work in which the dishonesty occurred.
In addition, acts of academic dishonesty, irrespective of the weight of the assignment,
may result in the student receiving a failing grade in the course. Instances of
academic dishonesty will be reported to the Dean of Academic Affairs. A student
who is reported twice for academic dishonesty is subject to summary dismissal from
the University. In such a case, the Academic Council will then make a recommendation
to the President, who will make the final decision.
|
STUDENTS WITH LEARNING OR OTHER DISABILITIES
John Cabot University does not discriminate on the basis of disability or handicap.
Students with approved accommodations must inform their professors at the beginning
of the term. Please see the website for the complete policy.
|
|
|
SCHEDULE
|
|
|
|
| Session | Session Focus | Reading Assignment | Other Assignment | Meeting Place/Exam Dates |
| Week 1 | Introduction to the course.
Ecosystem services framework. | | | |
| Week 2 | Property rights, externalities and environmental problems.
Ecosystem services valuation
| | | |
| Week 3 | Ecosystem services valuation.
Cost-benefit analysis.
| | | |
| Week 4 | Cost benefit analysis. | | Evaluation 1: February 12-13 | |
| Week 5 | Non-renewable resources.
Recyclable resources. | | | |
| Week 6 | Energy transition to renewable sources.
Optimal water management.
| | | |
| Week 7 | Optimal water management.
Common-pool resources. | | | |
| Week 8 | Renewable resources – fisheries.
Land use change, forests, biodiversity. | | Evaluation 2: March 12-13 | |
| Week 9 | Economics of pollution control.
Local and non-point sources of pollution. | | | |
| Week 10 | Paradigms of sustainability.
The quest of sustainable development.
| | | |
| Week 11 | Macroeconomics and the environment.
Environmental national accounts.
| | | |
| Week 12 | Measures of wealth.
Poverty and the environment.
| | Evaluation 3: April 9-10 | |
| Week 13 | Special topic: Climate change, climate funds and carbon markets. | | | |
| Week 14 | Special topic: Planetary boundaries
| | | |
| Week 15 | May 5-9: Final Exam in class | | | Final exam. |
|