University of Liege | Version française
	Study programmes 2010-2011 Last update : 11/04/2011
	ECON2248-1   Environmental economy Duration :   24h Th Credits/ECTS :   Master in Agricultural Bioengineering, Professional Focus, 2nd year First semester 2 Master in Chemistry and Bio-industries, Professional Focus, 2nd year First semester 2 Master in Forests and natural Areas Engineering, Professional Focus, 1st year First semester 2 Required preliminary complements to register in the Advanced master in bio-engineering: sanitary engineering First semester 2 Required preliminary complements to register in the Advanced Master in Rural Economics and Sociology First semester 2 Holder(s) :   Philippe Lebailly Language :   French language Course contents :   1. Introduction to environmental economics and sustainable development 2. Theoretical foundations Equilibrium, exchange, optimality, Paretian analysis, welfare economics 3. Externalities or market failure in environmental economics Externalities, property rights, public goods, internalising the externalities (Coasian and Pigovian approaches) 4. Economics of environmental projects Monetary valuation (general principles and specific techniques) Discounting Benefit-cost analysis (general principles and alternatives) 5. Environmental policy instruments Economic instruments, Command-and-Control approach and comparison 6. Economics of natural resources Theory of exhaustible resources, renewable resources and the overexploitation of common property resources 7. Examples of current problems in environmental economics Course objective :   Studying environmental problems and their solutions from a microeconomic standpoint After completing the course the student is expected to Understand the environmental problems and their stakes Know the theoretical bases of the environmental economy and the economy of the natural resources Understand the instruments of the environmental policy Prerequisites :   Course in political economy Course in mathematics Organization :   Lectures : 24h Written notes :   Hanley, Shogran and White (2001) : Introduction to Environmental Economics. Barron, Perlack and Boland (1998) : Fundamentals of Economics for Environmental Managers. Assessment :   Oral examination (100%) Contacts :   Lebailly Philippe, (Professeur Ordinaire) Bât. GE Gembloux Agro-Bio Tech Passage des Déportés 2 5030 Gembloux +32 81 622361 Philippe.Lebailly@ulg.ac.be Home Search by Faculty Search by teacher Search by course code and title
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