Environmental Engineering

LUCA FRACCASCIA

General learning outcomes
This course introduces you to economic perspectives on modern environmental issues. We will study economic theories related to natural resources, with an emphasis on the strengths and weaknesses of alternative viewpoints. You will learn that economic objectives do not necessarily conflict with environmental goals, and that markets can be harnessed to improve environmental quality. We will also discuss the limitations of economic analysis to provide policy guidance on environmental issues.

Specific learning outcomes
Knowledge and understanding skill
At the end of the course the students will have acquired both theoretical knowledge as well as knowledge on specific applications including renewable and non- renewable resources, with a specific focus on circular bioeconomy. By the end of the course, students will be able to express an informed view regarding the potential of economics to help societies achieve their environmental goals.

Applying knowledge and understanding skill
At the end of the course the students are able to identify actions for improving environmental quality and promoting a sound sustainable transition. They are able to assess and define policy measures based on the knowledge acquired throughout the course. They apply to real case studies models and theories with specific reference to circular bioeconomy.

Making judgement skill
The students exercise their making judgement skill by means of the preparation of a power point presentation based on a real case study, to which apply theories and models presented during the course.

Communication skill
The students exercise their communication skill during the presentations, projected to the whole classroom. Moreover, the preparation of the ppt presentation involves communication, in textual and graphical form, to present orally to the class.

Learning skill
The students exercise their self-learning skill by tackling the analysis of sustainability assessment with a focus on LCA and S-LCA methodologies. This analysis requires adapting general theoretical concepts to specific case studies especially for the bioeconomy sector.

Knowledge and understanding: The course allows students to know the main managerial strategies supporting the company’s transition towards the circular economy.

Apply knowledge and understanding: Students will be able to design circular business models and sustainable business models, also thanks to the experience of project work. At the end of the course, students will be able to assess how much a given business model is sustainable.

Critical and judgment skills: Students will be able to assess ex ante the implications – from the economic, social, and environmental perspective – of a given circular business model.

Communication skills: At the end of the course, students will be able to discuss the topics addressed during the class by using the consolidated terminology, both from the scientific and the managerial perspective.

Learning ability: Students will develop the autonomous ability to study and critically assess the business choices of companies. The use of business games for some topics of the class will allow students to learn by doing.

No specific prerequisites

Environmental Economics
- Relationships between the economy and the environment
- Why do markets fail in protecting the environment
- Renewable and non-renewable resources
- Valuing concern for nature
- The economic control of the environment

Environmental Management
- Circular economy
- Industrial symbiosis
- Global emission chains
- International agreements for environmental protection
- Sustainable Development

Textbook: Turner, Pearce, Bateman – Environmental Economics: an elementary introduction, The John Hopkins University Press
Articles provided by the lecturer

The main educational model is the lecture with the objective of teaching the main concepts and methods of environmental economics and management. The lectures are supported by business cases to drive a reflective learning through discussion in the classroom of the topics/cases presented. Depending on the number of students, students can develop a team work having as objective to experiment some circular economy dynamics.

Attending the lectures is not mandatory

The examination consists of three steps:
(1) a written test with multiple-choice questions, with a maximum score of 22 points;
(2) an oral exam, which can adjust the written test score by a minimum of negative infinity to a maximum of +3 points;
(3) a project assessment, with a maximum score of 10 points.
Honors are awarded, at the discretion of the instructor, to those who achieve at least 31 points.

Please, choose an environmental good.
The following sub-questions specifically concern the case chosen.
1. Describe how and why the “tragedy of the commons phenomenon” can arise for the environmental good chosen
2. Describe how you would assess the economic value of the environmental good chosen through a non-demand curve approach (please, do not forget to specify the name of the approach and the methodology you would adopt for the economic assessment).