Economics for Environment, culture and tourism

The course aims to illustrate, going beyond the contents of a traditional microeconomics course, the crucial role that institutions, understood primarily as the “rules of the game,” play in the functioning of the economic system. Students will learn to identify situations in which the self-interested behaviour typical of markets leads to outcomes that are worse for everyone, using game theory as the main analytical tool. They will learn how to select institutions that, in different contexts, can ensure better outcomes for all, and to understand how challenging their implementation can be. The course explores the reconciliation between immediate individual material interests and collective well-being in the governance of enterprises. Students will also apply this approach to the issues of climate change and the ecological transition, showing in particular how institutional design can influence individual behaviour by altering not only economic incentives but also the perception and evaluation of the costs and benefits associated with different problems.