KNOWLEDGE AND UNDERSTANDING: Know the main theoretical models and empirical evidence describing the relationship between economics and the environment. Know the basic theoretical models and the evaluation methods used for natural resources and the environment. Know the main environmental policies. Understand the multidisciplinary notion of sustainable development and the concept of circular economy.
APPLYING KNOWLEDGE AND UNDERSTANDING: Knowing how to understand and interpret the complexity of the relationships between the economic system, the environmental ecosystem and the social context, according to the multidisciplinary approach of sustainable development, with reference to different sectors and production contexts.
MAKING JUDGEMENTS: At the end of the course, students should demonstrate their knowledge of the topics proposed during the course and their ability in carrying out an autonomous critical analysis of specific case studies assigned during the course.
COMMUNICATION SKILLS: The written exam on the main topics analyzed during the course and on the articles assigned by the teachers, aims to verify the student's ability to communicate with the proper disciplinary lexicon the concepts learned during the course.
LEARNING SKILLS: At the end of the course student must demonstrate that they have acquired a) the knowledge and skills described in this syllabus, and b) a critical analytical ability by taking a written exam on the topics presented during the course and on one of the scientific papers assigned by the teachers.

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1. Introduction: economics, natural resources and the environment
2. Markets and public goods
3. Environmental policies
4. Environmental evaluation: principles and methods
5. Renewable and nonrenewable resources economics

Pindyck, R. S., Rubinfeld, D. Microeconomics (8th ed) L. PEARSON
Tietenberg, T., Lewis, L. Environmental and natural resource economics, Routledge, 11 ed.
Hanley, N., Schogren, J., White, B. Environmental Economics (2nd ed) Oxford

1. Introduction: economics, natural resources and the environment
1.1 Economic growth, population growth and the environment
1.2 Sustainable development: origin and evolution of the notion
1.3 Green Economy, Bioeconomy and Sustainable Development
1.4 The United Nations 2030 Agenda
1.5 Circular economy: origin and evolution of the notion
1.6 Case studies
2. Markets and public goods
2.1 The demand for private goods
2.2 The supply of private goods
2.3 The market equilibrium
2.4 Externalities and public goods
2.5 Sources of market failure
2.6 Case studies
3. Environmental policies
3.1 Environmental regulation, command and control instruments
3.2 Environmental taxes
3.3 Subsidies and incentives for environmental protection
3.4 The Coase theorem
3.5 Negotiable environmental permits
3.6 The role of innovation
3.7 Uncertainty and intergenerational equity
3.8 Case studies
4. Environmental evaluation: principles and methods
4.1 Cost-benefit analysis
4.2 Hedonic pricing method
4.3 Travel cost method
4.4 Contingent evaluation
4.5 Case studies
5. Renewable and nonrenewable resources economics
5.1 Irreversibility, risk and uncertainty
5.2 Economics of climate change
5.3 Waste management
5.4 Economy of non-renewable natural resources
5.5 Renewable resource economics: fisheries and forests
5.6 Agriculture and the environment
5.7 Management of water resources
5.8 Case studies

Lectures, discussions on economic reports and articles, individual or team working.

Any changes to the methods described here will be announced on the course's Moodle website and during lectures.

The written exam will focus on the topics covered during the course and on the articles presented during the course. The exam will include open-ended questions, multiple choice questions and exercises. Students will be allowed to take partial tests as an alternative to the final exam, in this case each intermediate test has to be positively evaluated (18/30) to pass the exam. It is possible to take again the intermediate tests if the evaluation is not positive at the end of the course.
The program of the course and the exams rules apply also to Erasmus students and to students participating in other international mobility projects.
The final exam aims to verify the students’ knowledge and understanding of the topics presented during the course, their ability to apply knowledge and understanding, to make critical judgments, their learning and communication skills.
70% of the exam evaluation will be based on the questions and exercises dealing with the topics covered during the course, while 30% on the questions focused on the papers presented and discussed during the course. To pass the exam both parts of the test has to be positively evaluated (18/30).

This course focuses on some topics closely related to one or more objectives of the 2030 Agenda for Sustainable Development of the United Nations.