AØKA08227U Economics of the Environment, Natural Resources and Climate Change
MSc programme in Economics – elective course
Bacheloruddannelsen i økonomi – Prioriteret valgfag på 3. år
The Danish BSc programme in Economics - prioritized elective at the 3rd year
FAGET ERSTATTER Miljø-, ressource- og klimaøkonomi (AØKK08094U). Grundet pensum overlab er det ikke tilladt at deltage på AØKA08227U - Economics of the Environment, Natural Resources and Climate Change, hvis Miljø-, ressource- og klimaøkonomi (AØKK08094U) er bestået.
The course introduces the basic economic concepts relevant for analyzing problems and policies relating to the environment, natural resources and climate change, using theories and analytical tools from microeconomics and macroeconomics.
After completing the course, the student should be able to:
Knowledge: account for..
The central economic services provided by the environment
The basic theory of optimal management of natural resources
The economic definitions and applicability of the concepts of “Green Growth” and “Sustainable development”
The distinction between “weak” and “strong” sustainability
The key issues in the debate on the choice of discount rate in the evaluation of environmental and climate policies
The principles for valuation of environmental goods and services
The theory of the environment as a public good
The basic theory of optimal environmental policy and regulation, including the distinction between first-best and second-best policy
The advantages and disadvantages of alternative instruments of environmental policy
The theory of optimal environmental taxation and the debate on the “double dividend” from a “green” tax reform
The assumptions underlying standard Integrated Assessment Models of climate change
The issues involved in the debate on the valuation of damages from climate change
The concepts of the Social Cost of Carbon and the Strategic Social Cost of Carbon
The basic theory of optimal climate policy, including guidelines for a rational climate policy under fundamental uncertainty
The basic economic issues and incentives relating to international negotiations on climate policy
The theory of the “Green Paradox” in climate policy and the critique of this theory
Skills:
Apply the standard mathematical method for static optimization subject to constraints to analyze environmental policy problems such as the determination of the optimal level of pollution abatement and the optimal environmental tax rates
Apply optimal control theory to solve dynamic optimization problems subject to constraintssuch as the determination of the optimal extraction of natural resources and the optimal pace of reduction of greenhouse gas emissions
Competencies:
Explain and present central parts of economic theories and models of the environment, natural resources and climate change in a clear and correct language
Undertake a critical evaluation of the strengths and weaknesses of the theories and models presented in the course
Present and evaluate key parts of the theory of environmental regulation and discuss the role of the state and the market in the implementation of environmental policy goals
Apply the theoretical and empirical insights from the course in a critical analysis and discussion of important real-world problems of environmental and climate policy
The Syllabus consists of a selection of scientific papers by leading authors in the field plus lecture notes by Peter Birch Sørensen. A detailed list of the syllabus is posted in Absalon.
FAGET ERSTATTER Miljø-, ressource- og klimaøkonomi (AØKK08094U). Grundet pensum overlab er det ikke tilladt at deltage på AØKA08227U - Economics of the Environment, Natural Resources and Climate Change, hvis Miljø-, ressource- og klimaøkonomi (AØKK08094U) er bestået.
Before the end of the first month of teaching students must hand in a mandatory exercise involving the application of optimal control theory to the solution of an environmental policy problem. During the course students will be invited to solve additional exam-relevant exercises on a voluntary basis.
2 hours lectures 1 to 2 times a week from week 36 to 50 (except week 42).
The overall schema for the BA 3rd year can be seen at https://intranet.ku.dk/polit_ba/undervisning/Lektionsplan-E17/skemaer/Sider/default.aspx
or the Master at https://intranet.ku.dk/economics_ma/courses/CourseCatalogue-E17/Courseschema/Pages/default.aspx
Timetable and venue:
To see the time and location of lectures and exercise classes please press the link/links under "Se skema" (See schedule) at the right side of this page. E means Autumn. The lectures is shown in each link.
You can find the similar information partly in English at
https://skema.ku.dk/ku1718/uk/module.htm
-Select Department: “2200-Økonomisk Institut” (and wait for respond)
-Select Module:: “2200-E17; [Name of course]””
-Select Report Type: “List – Weekdays”
-Select Period: “Efterår/Autumn – Weeks 31-5”
Press: “ View Timetable”
- Category
- Hours
- Class Instruction
- 28
- Exam
- 3
- Lectures
- 42
- Preparation
- 133
- Total
- 206
for enrolled students. More information about registration, schedule, rules etc. can be found at the intranet for Master students (UK) , Master students (DK) and Bachelor students (DK).
Registration and information for students not enrolled please find more information at Study Economics.
Læs om tilmelding, uddannelsen, studieordning mm på Åbent Universitet, Merit og uddannelse i økonomi.
- Credit
- 7,5 ECTS
- Type of assessment
- Written examination, 3 hours under invigilationindividual exam at the computers of Copenhagen University.
The exam assignment is in English and must be answered in English. - Exam registration requirements
Submission and approval of one mandatory exercise involving the application of optimal control theory to the solution of an environmental policy problem. The exercise must be submitted by the end of the first month of teaching.
- Aid
- Without aids
- Marking scale
- 7-point grading scale
- Censorship form
- External censorship
if chosen by the Head of Studies.
- Exam period
for the autumn semester 2017:
12 January 2018
The written exam takes place in the exam venues of the university
The exact time and room will be informed in the Self-Service at KUnet
For enrolled students more information about examination, rules, exam schedule etc. is available at the intranet for master students (UK) , master students (DK) and bachelor students (DK).
- Re-exam
for the autumn semester 2017:
13 February 2018
The written exam takes place in the exam venues of the university
The exact time and room will be informed in the Self-Service at KUnet
If only a few students have registered the reexam it might change to oral including the date, time and place, which will be informed in KUNet or by the Examination Office.
More information about reexamination, rules, schedule etc. is available at the intranet for master students (UK) , master students (DK) and bachelor students (DK).
Criteria for exam assesment
Students are assessed on the extent to which they master the learning outcome for the course.
To receive the top grade, the student must be able to demonstrate in an excellent manner that he or she has acquired and can make use of the knowledge, skills and competencies listed in the learning outcomes.
Course information
- Language
- English
- Course code
- AØKA08227U
- Credit
- 7,5 ECTS
- Level
- Full Degree MasterBachelor
- Duration
- 1 semester
- Placement
- Autumn
- Schedule
- and venue:
Go to "Remarks"
Exam and re-sits: Go to "Exam"
Faget erstatter Miljø-, ressource- og klimaøkonomi - Continuing and further education
- Price
Information about admission and tuition fee: Master and Exchange Programme, credit students and guest students (Open University)
- Study board
- Department of Economics, Study Council
Contracting department
- Department of Economics
Course Coordinators
- Peter Birch Sørensen (20-7f748374813d71788172773d827e81747d82747d4f74727e7d3d7a843d737a)
Lecturers
Lecture: See Course responsibles