[ 572ESUMUMOK20 ] KS Environmental Economics

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Workload Education level Study areas Responsible person Hours per week Coordinating university
3 ECTS B2 - Bachelor's programme 2. year Economics Franz Hackl 2 hpw Johannes Kepler University Linz
Detailed information
Pre-requisites (*)KS Einführung in die Volkswirtschaftslehre KS Einführung in die Mikroökonomie
Original study plan Bachelor's programme Economics and Business 2020W 2020W
Objectives Students understand the different paradigmatic approaches to the economic use of natural resources. Students know the reasons of market failures and political failures in environmental areas. Students are familiar with the environmental policy instruments and know about the advantages and disadvantages of using the instruments for different environmental problems. Students understand both the welfare theory basics and the different methods that are used in the area of cost and benefit analyses. Students understand the basics of using exhaustible and renewable resources.
Subject Paradigmatic principles of environmental economics: neoclassical environmental economics, ecological economics, contradictions, consequences for environmental policy, sustainability, safe minimum standard

Market and political failures as causes of environmental problems: external effects, common property problems (non-exclusibility, non-rivalry and collective goods), Public Choice and environmental problems.

Instruments of environmental policy: negotiations (Coase Theorem), liability regulations, command and control, environmental taxes, subsidies, permits, environmental policy under uncertainty (Weitzmann Theorem)

Cost-benefit analysis as an environmental policy instrument: welfare-theoretical basics (welfare measures, use and non-use values), indirect procedures for assessing environmental benefits (expenditure method, hedonic prices, travel expenses approach, ...), direct procedures for assessment (contingent valuation), benefit transfer

Introduction into Resource Economics: exhaustible Resources, renewable Resources

Criteria for evaluation Exam
Methods Lecture, discussion, case studies
Language German
Study material Environmental Economics in Theory and Practice, Nick Hanley, Jason F. Shogren, Ben White, Macmillan, 1997.

The theory of environmental policy, William J. Baumol and Wallace E. Oates, 2. edition, Cambridge University Press, 1988.

Cost-Benefit Analysis and the Environment, Nick Hanley, Clive Spash, Edward Elgar, 1993.

Changing subject? No
On-site course
Maximum number of participants 200
Assignment procedure Assignment according to priority