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Environmental and Resource Economics

General data

Course ID: 2400-ERE-1 Erasmus code / ISCED: 14.3 / (0311) Economics
Course title: Environmental and Resource Economics Name in Polish: Environmental and Resource Economics
Department: Faculty of Economic Sciences
Course groups: English-language course offering of the Faculty of Economics
ECTS credit allocation (and other scores): (not available)
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Language: English
Type of course:

obligatory courses

Short description:

This is an English version of a course taught in the Economics Department. Its aim is to introduce main issues of environmental economics and policy. Particular emphasis is placed on discussing the role of markets, as well as questions of economic efficiency in using the natural environment and its resources. The lecture is recommended for Economics majors and it is obligatory for students enrolled in the Interdepartmental Curriculum in Environmental Protection. Basic text: H. Folmer and H. L. Gabel (eds.), Principles of Environmental and Resource Economics. A Guide for Students and Decision-Makers. Second Edition, Edward Elgar Publishing 2000.

Full description:

The aim of the lecture is to introduce students into economics of environmental protection and resource conservation. Particular emphasis will be put on determining the role of markets in an efficient use of these resources. The knowledge of elementary economic concepts is necessary, but the class is self-contained and thus accessible for non-economic students as well. The lecture includes such theoretical economic topics as efficiency of competitive markets, market failure in the presence of externalities and public goods, discounting and Coase theorem. It also covers a number of issues related to environmental policy such as: policy instruments, especially Pigouvian taxes and transferable permits, natural resource management (both exhaustible and renewable ones) and the Hotelling rule. In addition, environmental valuation problems will be addressed in the class.

1 Review of contemporary environmental problems and their economic contexts; pp.xxi-xxxii.

2 Basic concepts of a market economy. Efficiency of competitive markets. Market failures accompanying external effects and public goods; pp.3-33.

3 Correcting for externalities. Coase theorem, Pigouvian taxes, marketable permits; pp.3-33.

4 Public policies. Democracy and environmental protection; pp.363-395.

5 Decision making under uncertainty; pp.396-419.

6 Intertemporal choice. Discounting; pp.104-129.

7 Economics of exhaustible resources. Hotelling rule; pp.665-699.

8 Economics of renewable resources. Maximum Sustainable Yield concept; pp.665-699.

9 Welfare indices and the environmental resource base. Environmental damages and national product; pp.564-601.

10 Economic role of environmental resources. Valuing the environment; pp.34-71

11 Valuation methods; pp.72-103.

12 Environmental policy: goals, principles and constraints. Typical policy failures; pp.130-156.

13 Environmental policy instruments; pp.157-201.

14 "Eco-taxation" issues; pp.529-563.

15 Final exam (multiple choice test; additional oral exam upon request)


H. Folmer and H. L. Gabel (eds.), Principles of Environmental and Resource Economics. A Guide for Students and Decision-Makers. Second Edition, Edward Elgar Publishing 2000.

This course is not currently offered.
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