Content, progress and pedagogy of the
module
This module presents the foundations for analyzing the
interactions between the economy and the environment from different
schools of economic thought, to later use them in the analysis of
climate change and the economics of the low-carbon transition
framed in the Paris Agreements of 2015. The introduction to the
course presents the most recent stylized facts about planetary
boundaries and the scientific consensus upon which the current
economic policy discussions are based. The theoretical sections of
the course explore the main analytical tools used by the different
approaches. As far as the neoclassical school is concerned,
environmental degradation is presented as a market failure that
must be resolved fundamentally from the precepts of marginalist
analysis. Regarding heterodox approaches, the economy is presented
as a subsystem within nature, so economic and environmental
problems must be analyzed from more holistic and transdisciplinary
perspectives, emphasizing the concept of "strong
sustainability". In the final part of the course, specific
issues currently at the center of the debate about the green
transition are addressed: the change in the energy matrix, the
secondary effects that the transition will produce, and the
economic policies that can facilitate its successful
implementation. The different topics of the course are illustrated
with real-world examples that help understand their
relevance.
Learning objectives
Knowledge
- Understand the importance of integrating the environment in
economic analysis and how it is done by different schools of
economic thought.
- Comprehend the problem of climate change in its economic and
environmental dimensions.
- Acquire key concepts that have been progressively gaining space
in the debate about climate change and economy-environment links,
which are currently part of most economic analyses in the
field.
- Recognise different dimensions of the low-carbon the world
economy will go through and the main debates about it, as well as
the policies that would make it possible and the risks that might
put it in jeopardy.
- Familiarise with the legal frameworks and international
agreements that regulate the low-carbon transition.
Skills
- Comprehend and use widespread reports and articles combining
elements from economics and environmental sciences.
- Apply economic analysis techniques to calculate the
environmental impacts of human activity.
- Assess the different transmission channels through which
economies are and will be affected by climate change and the
low-carbon transition.
- Identify suitable economic policy tools to tackle the problems
regarding climate change and the low-carbon transition.
Competences
- Analyse economic processes holistically, combining elements
from different disciplines (economics and environmental sciences at
least) and schools of thought.
- Critically assess economic (and to a certain extent
environmental) policies using solid theoretic foundations.
- Successfully contribute to inter and transdisciplinary
professional environments working on different economy-environment
interactions.
Exam
Prerequisite for enrollment for the exam
- The prerequisites for participating in the exam are the
following:
- • Three assignments consisting of short essays combining
elements of different lectures, on which students will receive
written feedback.
- To pass the course the prerequisites must be handed
in.
Exams
Name of exam | Ecological Economics |
Type of exam | Written or oral exam
Individual |
ECTS | 5 |
Assessment | Passed/Not Passed |
Type of grading | Internal examination |
Criteria of assessment | The criteria of assessment are stated in the Examination
Policies and Procedures |