2023-2024 / ECON2248-1

Environmental economy


18h Th

Number of credits

 Master in agricultural bioengineering (120 ECTS)2 crédits 
 Master in environmental bioengineering (120 ECTS)2 crédits 
 Master in forests and natural areas engineering (120 ECTS)2 crédits 
 Master in innovation management and the food design (120 ECTS)2 crédits 


Kevin Maréchal

Language(s) of instruction

French language

Organisation and examination

Teaching in the first semester, review in January


Schedule online

Units courses prerequisite and corequisite

Prerequisite or corequisite units are presented within each program

Learning unit contents

1. Etymological, epistemological, historical and theoretical foundations of the study of th interections between the economic and environmental spheres
2. Analysis of key notions in environmental economics : externalities, public goods, pigovian taxe, coasian bargain, etc.
3. Discussion of the central issue of 'value' (use, non-use, option, existence, etc.)
4. Detailed and careful analysis f the main 'valuation methods' of environmental assests and their connection with the market
5. Presentation and discussion of the Cost-Benefit Analysis (CBA) for the management of environmental assests
6. Integration of the issues of uncertainty and time thorugh discounting: an illustration with the economics of climate change
7. Discussion of the relationship between GDP growth, environmental quality and well-being
8. Complementary insights to traditional environmental economics : theory of habits, technological lock-in, alternatives to GDP, etc.

Learning outcomes of the learning unit

Objective of the lecture:
Acquire and develop a competent use of the key concepts that are necessary for a good understanding of the issues related to the interactions between the economic and environmental spheres
At the end of the class, the student is expected to be able to:
- grab, with his own words, the main notions exposed during the lecture - provide a critical analysis of a short scientific paper dealing with a current environmental issue - mobilise the knowledge acquired to write a short essay being placed in the concrete situation of an environmental economist dealing with a cross-cutting issue

Prerequisite knowledge and skills

Course in political economy
Course in mathematics

Planned learning activities and teaching methods

Mode of delivery (face to face, distance learning, hybrid learning)

Lectures : 18h

Recommended or required readings

The only mandatory reading is the scientific paper that is to be critically assessed during the final exam

Written examination (100%)

Work placement(s)

Organisational remarks and main changes to the course

The lecture requires the active involvement of students


Maréchal Kevin, (Assistant Professor)
ULiège - Gembloux Agro-Bio Tech Economics and Rural Development Unit 2, Passage des Déportés 5030 Gembloux Belgium Tél. + 32 81 62 23 63 K.Marechal@uliege.be

Association of one or more MOOCs