Environmental Economics and Finances

Study Course Description

Course Description Statuss:Approved

Course Description Version:2.00

Study Course Accepted:03.06.2024 16:12:12

Study Course Information
Course Code:		SZF_075		LQF level:		Level 6
Credit Points:		3.33		ECTS:		5.00
Branch of Science:		Management		Target Audience:		Political Science; Business Management; Management Science
Study Course Supervisor
Course Supervisor:		Marija Bočkarjova
Study Course Implementer
Structural Unit:		Faculty of Social Sciences
The Head of Structural Unit:
Contacts:		Dzirciema street 16, Rīga, szfrsu[pnkts]lv
Study Course Planning
Full-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
Part-Time - Semester No.1
Lectures (count)		4	Lecture Length (academic hours)		2	Total Contact Hours of Lectures		8
Classes (count)		5	Class Length (academic hours)		2	Total Contact Hours of Classes		10
Total Contact Hours								18
Study course description
Preliminary Knowledge:
Basics of economics, basic knowledge of international business.
Objective:
To provide students with knowledge about the growing relevance of environmental economics and its finance and practical trends in the context of the international business environment and its management.
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 failures.			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, legal approach, 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 the development of economy. Adaptation and mitigation of climate changes.			Lectures		1.00	E-Studies platform
				Classes		1.00	E-Studies platform
4	Impact of natural hazards on global and local economy. 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 evaluation and economic evaluation methods. Value ethics. Economic value components and value assessment. Economic evaluation methods: stated preference methods, revealed preference methods and benefit transfer.			Lectures		1.00	E-Studies platform
				Classes		1.00	E-Studies platform
6	Case study: developing a business plan. Assessment tools: CBA, MCA, business plan. Definition and typology of entrepreneurship models. Business models for implementation of nature projects in urban environment. 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
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 failures.			Lectures		0.50	E-Studies platform
				Classes		0.50	E-Studies platform
2	Environmental economics – background, concepts, topics and approaches (continued). Environmental economics: pollution control. Taxes, subsidies, legal approach, voluntary approaches.			Lectures		0.50	auditorium
				Classes		0.50	auditorium
3	Economics of global climate change. Introduction to the problem and antecedents of global climate change. Climate effects on the development of economy. Adaptation and mitigation of climate changes.			Lectures		0.50	E-Studies platform
				Classes		0.50	E-Studies platform
4	Impact of natural hazards on global and local economy. Definition and typology of natural disasters. Economic consequences of natural hazards: damages. Disaster risk management.			Lectures		0.50	E-Studies platform
				Classes		0.50	E-Studies platform
5	Environmental evaluation and economic evaluation methods. Value ethics. Economic value components and value assessment. Economic evaluation methods: stated preference methods, revealed preference methods and benefit transfer.			Lectures		0.50	E-Studies platform
				Classes		1.00	E-Studies platform
6	Case study: developing a business plan. Assessment tools: CBA, MCA, business plan. Definition and typology of entrepreneurship models. Business models for implementation of nature projects in urban environment. 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		0.50	E-Studies platform
				Classes		1.00	E-Studies platform
Assessment
Unaided Work:
Independent completion of tasks, preparation of summaries, a case study, preparation of a presentation. In order to evaluate the quality of the study course as a whole, the student must fill out the study course evaluation questionnaire on the Student Portal.
Assessment Criteria:
1. Attendance of seminars and lectures, participation in classroom activities (discussion, debate) – compulsory. 2. Analysis and presentation of the 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 economy 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 reports strengthens students' ability to reasonably explain and discuss topical issues in the environmental economy, its 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, J. M. and Roach, B. 2017. Environmental and Natural Resource Economics: A Contemporary Approach. 4th ed. Routledge.
2	Bergh, J.C.J.M. van den. 2001. Ecological Economics: Themes, Approaches, and Differences with Environmental Economics. Regional Environmental Change 2. 13-23.
3	Bockarjova, M., Wouter Botzen, and Koetse, M. 2018. Economic Valuation of Green and Blue Nature in Cities: A Meta-Analysis. U.S.E. Working Paper series. 18(8). Utrecht University.
4	Bubeck, P., Kreibich, H., Penning-Rowsell, E., Botzen, W. J. W., de Moel, H. and 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., de Groot, R., Braat, L., Kubiszewski, I., et.al. 017. Twenty years of ecosystem services: How far have we come and how far do we still need to go? Ecosystem Services. 28, 1-16.
6	Estrada Porrua, F., Botzen, W.J.W. and 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, Brander, L., 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 and Schmidt, T. S. 2019. How do policies mobilize private finance for renewable energy?—A systematic review with an investor perspective. Applied Energy. 236, 1249-1268.
9	Lomborg, B. 2017. TED talk on green innovation. [5min.] Ted archive.
10	Muuls, M., Colmer, J., Martin, R. and Wagner, U. J. 2016. Evaluating the EU Emissions Trading System: Take it or leave it? An assessment of the data after ten years. Grantham Institute Briefing paper. 21. [Worling paper].
11	Freeman III, A. M., Herriges, J.A. and Kling, C. L. 2014. The Measurement of Environmental and Resource Values: Theory and Methods. 3rd ed. Resources for the Future, RFF press.
12	Ozdemiroglu, E. and Rosie Hails, eds. 2016. Demystifying Economic Valuation: Valuing Nature Paper VNP04.
13	Schoenmaker, D. 2017. Investing for the Common Good: a Sustainable Finance Framework. BRUEGEL ESSAY AND LECTURE SERIES.
14	Tagliapietra, S., Zachmann, G., Edenhofer, O., Glachant, J-M., Linares, P. and Loeschel, A. 2019. The European Union energy transition: key priorities for the next five years. Energy police. 132, 950-954.
15	Zander, K., Botzen, W. J. W., Kjellstrom, T., Oppermann, E. and 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.et all. 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., Gómez-Baggethun, E., Martín-López, B. and Perez Rincón, M. 2018. Widening the evaluative space for ecosystem services: A taxonomy of plural values and valuation methods. Environmental Values. 27(1), 29-53.
3	CORE.Econ. Economics for a changing world. The Economy.
4	ECONADAPT Toolbos. Methods.
5	Estrada, F., Botzen, W.J.W. and 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. and Martín-López, B. 2015. Ecological economics perspectives on ecosystem services valuation. In: Martínez-Alier, J. and Muradian, R., eds. Handbook of Ecological Economics. Ch.11. Edward Elgar Publishing.
8	Harris, J.M., Roach, B. and Codur, A-M. 2017. The Economics of Global Climate Change. A GDAE Teaching Module on Social and Environmental Issues in Economics. Global Development And Environment Institute, Tufts University.
9	Jeroen C.J.H. Aerts, W.J. Wouter Botzen, Hans de Moel and 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. Green Macroeconomics: Growth and Distribution in a Finite World. Global Development And Environment Institute, Tufts University.
11	Kothuis, B., Brand, N., Sebastian, A.G., Loes Nillesen, A. and Jonkman, B. 2015. Delft Delta Design: The Houston Galveston Bay Region. Texas, USA. TU Delft.
12	Rothman, D.S. 2000. Measuring environmental values and environmental impacts: Going from the local to the global. Climatic Change. 44 (3), 351-376.
13	Monaliza da, S. 2018. Compensation Awards in international environmental law: Two Recent Developments. N.Y.U. J. Int’l L. & Pol. 50, 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. 13-11.
15	Tsimopoulou, V., Jonkman, S.N., et al. 2012. A multi-layered safety perspective on the tsunami disaster in Tohoku, Japan. In: Klijn and Schweckendiek, eds. Comprehensive Flood Risk Management. London: Taylor & Francis Group.
16	Weitzman, M. L. 2009. On modeling and interpreting the economics of catastrophic climate change. Review of Economics and Statistics. 91(1), 1-19.