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ENVIRONMENTAL ECONOMICS AND SUSTAINABILITY COURSE IDENTIFICATION AND APPLICATION INFORMATION

Code Name of the Course Unit Semester In-Class Hours (T+P) Credit ECTS Credit
ECF356 ENVIRONMENTAL ECONOMICS AND SUSTAINABILITY 5 3 3 5

KEY LEARNING OUTCOMES OF THE COURSE UNIT (On successful completion of this course unit, students/learners will or will be able to)

Explain the relationship between the economy, natural resources and the environment, and analyze externalities in production and consumption as a source of market failure. (1,2)
Compare environmental policy instruments such as Pigouvian taxes, subsidies, tradable permits and command-and-control regulations, and evaluate their effectiveness and efficiency in reducing environmental damage. (3,4,6)
Discuss the role of property rights and public goods in environmental problems, and apply the Coase theorem and the concept of the tragedy of the commons to real-world cases. (4,5)
Assess the economic and environmental characteristics of non-renewable and renewable energy sources, and evaluate policies for energy, water and waste management, including collection and recycling systems. (7, 10, 11)
Interpret environmental indicators and the Environmental Kuznets Curve to analyze the relationship between economic development, environmental quality and sustainability. (8–9, 12–13)
Explain the national and international legal and institutional framework for environmental protection, including major international agreements and organizations, and evaluate its effectiveness in addressing global environmental problems.
Solve the environmental problems.