Introduction to Economics for Environmental Research (IEER)

Course Level: 
Master’s
Campus: 
Vienna
Course Open to: 
Students on-site
Remote students
Academic Year: 
2020-2021
Term: 
Fall
US Credits: 
1
ECTS Credits: 
2
Course Description: 

The aim of this course is to prepare the students to systematically think about and work towards formulating and achieving concrete environmental objectives in the world of scarce resources and competing agendas. The topics within the course include:

  • The role of economic thinking in environmental management and the main principles elements of such thinking including:
    • The concept of economic thinking and economic choice
    • Supply, demand, production, consumption and markets
    • Environmental economics and decision-making
    • Macroeconomics
    • Limitations of economic thinking
Learning Outcomes: 

A successful student completing this model should be able to:

Understand the main principles of economic thinking in application to environmental management, including

    • the nature of economics and its subfields as distinct areas of social science;
    • the general principles and key concepts of mainstream micro-economic analysis (such as supply and demand, production, consumption and transport) and firm- and project-level decision making procedures based on such as analysis (such as budgeting, investment and cost-benefit and cost-effectiveness analysis), in particular as it concerns the human/environment relationship
    • the general principles of environmental economics, in particular the concept of environmental externalities and their regulation through the use of economic tools
    • the relevance of macroeconomic principles and concepts for environmental management
    • the limitations of economic analysis as a tool for understanding environmental issues and guiding environmental management and policy.
    Assessment: 

    Pass/Fail based on completion of class exercises and active participation in class and via blogs.

    Prerequisites: 

    None