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Environmental Economics and Finances
Study Course Description
Course Description Statuss:Approved
Course Description Version:4.00
Study Course Accepted:02.02.2024 12:31:06
| Study Course Information | |||||||||
| Course Code: | SBUEK_190 | LQF level: | Level 6 | ||||||
| Credit Points: | 4.00 | ECTS: | 6.00 | ||||||
| Branch of Science: | Management | Target Audience: | Business Management; Political Science; Management Science | ||||||
| Study Course Supervisor | |||||||||
| Course Supervisor: | Romāns Putāns | ||||||||
| Study Course Implementer | |||||||||
| Structural Unit: | Faculty of Social Sciences | ||||||||
| The Head of Structural Unit: | |||||||||
| Contacts: | Dzirciema street 16, Rīga, szf rsu[pnkts]lv | ||||||||
| Study Course Planning | |||||||||
| Full-Time - Semester No.1 | |||||||||
| Lectures (count) | 10 | Lecture Length (academic hours) | 2 | Total Contact Hours of Lectures | 20 | ||||
| Classes (count) | 10 | Class Length (academic hours) | 2 | Total Contact Hours of Classes | 20 | ||||
| Total Contact Hours | 40 | ||||||||
| Part-Time - Semester No.1 | |||||||||
| Lectures (count) | 7 | Lecture Length (academic hours) | 2 | Total Contact Hours of Lectures | 14 | ||||
| Classes (count) | 7 | Class Length (academic hours) | 2 | Total Contact Hours of Classes | 14 | ||||
| Total Contact Hours | 28 | ||||||||
| Study course description | |||||||||
| Preliminary Knowledge: | Basics of economics, basic knowledge in international business. | ||||||||
| Objective: | To provide students with knowledge about the growing importance of the environmental economics and its financial aspects as well as its practical tendencies in the context of the international business environment and its governance. This is achieved by means of knowledge and expertise on a variety of models and approaches to environmental issues in economics, instruments and mechanisms to correct for market failure, environmental valuation and business models for green economy. | ||||||||
| Topic Layout (Full-Time) | |||||||||
| No. | Topic | Type of Implementation | Number | Venue | |||||
| 1 | Environmental economics – background, concepts, topics and approaches. Introduction to the course. Introduction to environmental economics: history, scope and main concepts. Environment and market failure. | Lectures | 1.00 | E-Studies platform | |||||
| Classes | 1.00 | E-Studies platform | |||||||
| 2 | Environmental economics – background, concepts, topics and approaches (continued). Environmental economics: pollution control. Taxes, subsidies, command and control, voluntary approaches. | Lectures | 1.00 | auditorium | |||||
| Classes | 1.00 | auditorium | |||||||
| 3 | Economics of global climate change. Introduction to the problem and antecedents of global climate change. Climate effects on economic performance. Adaptation and mitigation of climate change. | Lectures | 1.00 | E-Studies platform | |||||
| Classes | 1.00 | E-Studies platform | |||||||
| 4 | Economics of natural hazards. Definition and typology of natural disasters. Economic consequences of natural hazards: damages. Disaster risk management. | Lectures | 1.00 | E-Studies platform | |||||
| Classes | 1.00 | E-Studies platform | |||||||
| 5 | Environmental valuation and economic valuation methods. Value ethics. Economic value components and value assessment. Economic valuation methods: stated preference methods, revealed preference methods, benefit transfer. | Lectures | 2.00 | E-Studies platform | |||||
| Classes | 2.00 | E-Studies platform | |||||||
| 6 | Case study: developing a business case. Assessment tools: CBA, MCA, business case. Definition and typology of business models. Business models for urban nature. Sustainable finance frameworks. | Lectures | 2.00 | E-Studies platform | |||||
| Classes | 2.00 | E-Studies platform | |||||||
| 7 | Energy transition and Green economy. Energy economics transition. Energy market(-s). Energy trends and projections. Economics of alternative energy sources. | Lectures | 2.00 | E-Studies platform | |||||
| Classes | 2.00 | E-Studies platform | |||||||
| Topic Layout (Part-Time) | |||||||||
| No. | Topic | Type of Implementation | Number | Venue | |||||
| 1 | Environmental economics – background, concepts, topics and approaches. Introduction to the course. Introduction to environmental economics: history, scope and main concepts. Environment and market failure. | Lectures | 1.00 | E-Studies platform | |||||
| Classes | 1.00 | E-Studies platform | |||||||
| 2 | Environmental economics – background, concepts, topics and approaches (continued). Environmental economics: pollution control. Taxes, subsidies, command and control, voluntary approaches. | Lectures | 1.00 | auditorium | |||||
| Classes | 1.00 | auditorium | |||||||
| 3 | Economics of global climate change. Introduction to the problem and antecedents of global climate change. Climate effects on economic performance. Adaptation and mitigation of climate change. | Lectures | 1.00 | E-Studies platform | |||||
| Classes | 1.00 | E-Studies platform | |||||||
| 4 | Economics of natural hazards. Definition and typology of natural disasters. Economic consequences of natural hazards: damages. Disaster risk management. | Lectures | 1.00 | E-Studies platform | |||||
| Classes | 1.00 | E-Studies platform | |||||||
| 5 | Environmental valuation and economic valuation methods. Value ethics. Economic value components and value assessment. Economic valuation methods: stated preference methods, revealed preference methods, benefit transfer. | Lectures | 1.00 | E-Studies platform | |||||
| Classes | 1.00 | E-Studies platform | |||||||
| 6 | Case study: developing a business case. Assessment tools: CBA, MCA, business case. Definition and typology of business models. Business models for urban nature. Sustainable finance frameworks. | Lectures | 1.00 | E-Studies platform | |||||
| Classes | 1.00 | E-Studies platform | |||||||
| 7 | Energy transition and Green economy. Energy economics transition. Energy market(-s). Energy trends and projections. Economics of alternative energy sources. | Lectures | 1.00 | E-Studies platform | |||||
| Classes | 1.00 | E-Studies platform | |||||||
| Assessment | |||||||||
| Unaided Work: | Independent performance of tasks, preparation of summaries, case study, preparation of a presentation. | ||||||||
| Assessment Criteria: | 1. Attendance of seminars and lectures, participation in classroom activities (debate, debate) – compulsory. 2. Analysis and presentation of practical situation (Case study) – 30%. 3. Summaries – 30%. 4. Exam – 40%. | ||||||||
| Final Examination (Full-Time): | Exam (Written) | ||||||||
| Final Examination (Part-Time): | Exam (Written) | ||||||||
| Learning Outcomes | |||||||||
| Knowledge: | Understanding the growing importance of the environmental economy, its basic principles, key trends. Understanding current issues of environmental economics in the international business economy. Knowledge of the key players in the public, private, NGO and transnational sectors in the environmental economy. | ||||||||
| Skills: | In group work and discussions students develop their arguments and critical thinking skills. Presentation of papers strengthens students' ability to reasonably explain and discuss topical issues in the environmental economics, finances and related business models. | ||||||||
| Competencies: | Ability to identify and interpret environmental economic processes and analyse the role and impact of its key players. Ability to apply various methods of financial assessment of environmental economics. | ||||||||
| Bibliography | |||||||||
| No. | Reference | ||||||||
| Required Reading | |||||||||
| 1 | Harris, Jonathan M. and Roach Brian (2017) Environmental and Natural Resource Economics; A Contemporary Approach, 4th Edn, Routledge. | ||||||||
| 2 | Bergh, J.C.J.M. van den (2000) Ecological Economics: Themes, Approaches, and Differences with Environmental Economics. Regional Environmental Change 2(00-080/3). | ||||||||
| 3 | Bockarjova, M. Wouter Botzen, Mark Koetse (2018) Economic Valuation of Green and Blue Nature in Cities: A Meta-Analysis. U.S.E. Working Paper series, volume 18, issue 08. Utrecht University. | ||||||||
| 4 | Bubeck, P., Kreibich, H., Penning-Rowsell, E., Botzen, W. J. W., de Moel, H., & Klijn, F. (2017). Explaining differences in flood management approaches in Europe and the USA – A comparative analysis. Journal of Flood Risk Management, 10(4), 436-445. | ||||||||
| 5 | Costanza, R., Rudolf de Groot, Leon Braat, Ida Kubiszewski, Lorenzo Fioramonti, Paul Sutton, Steve Farber, Monica Grasso (2017) Twenty years of ecosystem services: How far have we come and how far do we still need to go? Ecosystem Services, 28(A): 1- | ||||||||
| 6 | Estrada Porrua, F., Botzen, W.J.W., Tol, R. S. J. (2015). Economic losses from US hurricanes consistent with an influence from climate change. Nature Geoscience, 8, 880-884. | ||||||||
| 7 | Groot, R. de, Luke Brander, Sander van der Ploeg, et al. (2012) Global estimates of the value of ecosystems and their services in monetary units, Ecosystem Services, 1(1): 50-61. | ||||||||
| 8 | Polzin, F., Florian Egli, Bjarne Steffen, Tobias S. Schmidt (2019) How do policies mobilize private finance for renewable energy?—A systematic review with an investor perspective. Applied Energy, 236: 1249-1268. | ||||||||
| 9 | Lomborg, Bjorn. TED talk on green innovation (5min) https://www.youtube.com/watch?v=SEjNVWV5jbs | ||||||||
| 10 | MUÛLS M., JONATHAN COLMER, RALF MARTIN, ULRICH J. WAGNER (2016) Evaluating the EU Emissions Trading System: Take it or leave it? An assessment of the data after ten years. Grantham Institute Briefing paper No 21, October 2016. Imperial College London | ||||||||
| 11 | Myrick Freeman III, A., Joseph A. Herriges, Catherine L. Kling (2014) The Measurement of Environmental and Resource Values; Theory and Methods. 3rd Edition. Resources for the Future, RFF press. | ||||||||
| 12 | Ozdemiroglu, E., Rosie Hails (eds.) (2016) Demystifying Economic Valuation: Valuing Nature Paper. | ||||||||
| 13 | Schoenmaker, Dirk (2017). Investing for the common good: a sustainable finance framework. BRUEGEL ESSAY AND LECTURE SERIES. www.bruegel.org ISBN: 978-9-078910-43-5. | ||||||||
| 14 | TAGLIAPIETRA, S., GEORG ZACHMANN, OTTMAR EDENHOFER, JEAN-MICHEL GLACHANT, PEDRO LINARES AND ANDREAS LOESCHEL (2019) The European Union energy transition: key priorities for the next five years. BRUEGEL policy brief, 9 JULY 2019 | ||||||||
| 15 | Zander, K., Botzen, W. J. W., Kjellstrom, T., Oppermann, E., & Garnett, S. T. (2015). Heat stress has a substantial economic impact on the Australian workforce. Nature Climate Change, 5, 647-651. | ||||||||
| Additional Reading | |||||||||
| 1 | Aerts, J. C. J. H., Barnard, P. L., Botzen, W., Grifman, P., Hart, J. F., De Moel, H., ... Sadrpour, N. (2018). Pathways to resilience: Adapting to sea level rise in Los Angeles. Annals of the New York Academy of Sciences, 1427(1), 1-90. | ||||||||
| 2 | Arias-Arévalo, P., Erik Gómez-Baggethun, Berta Martín-López, Mario Alejandro Perez Rincón (2018) Widening the evaluative space for ecosystem services: A taxonomy of plural values and valuation methods. Environmental Values 27(1):29-53. | ||||||||
| 3 | CORE. The Economy | ||||||||
| 4 | ECONADAPT project valuation methods. | ||||||||
| 5 | Estrada, F., Botzen, W.J.W., Tol, R. S. J. (2017). A global economic assessment of city policies to reduce climate change impacts. Nature Climate Change, 7(6), 403-406. | ||||||||
| 6 | Farley (2012) Ecosystem services: The economics debate, Ecosystem Services,1(1): 40-49. | ||||||||
| 7 | Gómez-Baggethun, E., Berta Martín-López (2015) Ecological economics perspectives on ecosystem services valuation. In book: Handbook of Ecological Economics (Ch.11) by Joan Martínez-Alier, Roldan Muradian (Eds.). Edward Elgar. | ||||||||
| 8 | Harris, J.M., Brian Roach, and Anne-Marie Codur. [2017] EXTRA MODULE: The Economics of Global Climate Change | ||||||||
| 9 | Jeroen C.J.H. Aerts, W.J. Wouter Botzen, Hans de Moel, Malcolm Bowman (2013) Cost estimates for flood resilience and protection strategies in New York City. Annals of the New York Academy of Sciences 1294(1):1-104 | ||||||||
| 10 | Kemp-Benedict, E. [2019]. EXTRA MODULE: Green Macroeconomics: Growth and Distribution in a Finite World | ||||||||
| 11 | Kothuis, B., Nikki Brand, A.G. Sebastian, Anne Loes Nillesen, Bas Jonkman (2015) Delft Delta Design: The Houston Galveston Bay Region, Texas, USA. TU Delft, ISBN 978 94 6186 490 1. | ||||||||
| 12 | Rothman, D.S. (2000) Measuring Environmental Values and Environmental Impacts: Going from the Local to the Global. Climatic Change 44: 351. | ||||||||
| 13 | Silva, Monaliza da (2018). Compensation Awards in International Environmental Law: Two Recent Developments, 50 N.Y.U. J. Int’l L. & Pol. 1417. | ||||||||
| 14 | Sunstein, Cass R. (2013) The Real World of Cost-Benefit Analysis: Thirty-Six Questions (and Almost as Many Answers). Harvard Public Law Working Paper No. 13-11. | ||||||||
| 15 | Tsimopoulou, V., Jonkman, S.N., et al. (2012). A multi-layered safety perspective on the tsunami disaster in Tohoku, Japan. In: Comprehensive Flood Risk Management, Klijn & Schweckendiek (eds.). Taylor & Francis Group, London | ||||||||
| 16 | Weitzman, Martin L. (2009). On modeling and interpreting the economics of catastrophic climate change. Review of Economics and Statistics 91(1): 1-19. | ||||||||
