Natural Resource Economics
A.Y. 2025/2026
Learning objectives
This course aims to provide students with the tools necessary for an economic problem analysis of natural resources. In the first phase the conceptual reference framework is presented. In the second phase different issues related to specific natural resources (air, soil, water, and biodiversity) are dealt with under both the regulatory and the evaluative profile.
The contents of course allow students to get aware of the public point of view of common goods safeguard and management, and - together with the courses of Environmental Law and Law of territorial government and public contracts - will lie down the economic and legal framework for design and coordinate interventions of protection and enhancement of environment and territory.
The contents of course allow students to get aware of the public point of view of common goods safeguard and management, and - together with the courses of Environmental Law and Law of territorial government and public contracts - will lie down the economic and legal framework for design and coordinate interventions of protection and enhancement of environment and territory.
Expected learning outcomes
Knowledge and understanding. With this teaching the student:
o knows and understands the economic mechanisms that regulate the use of natural resources;
Applying knowledge and understanding. With this teaching the student will be able to:
o apply assessment tools useful for making rational choices;
o critically evaluate and judge natural resource economic issues;
o draw up written reports.
o knows and understands the economic mechanisms that regulate the use of natural resources;
Applying knowledge and understanding. With this teaching the student will be able to:
o apply assessment tools useful for making rational choices;
o critically evaluate and judge natural resource economic issues;
o draw up written reports.
Lesson period: First semester
Assessment methods: Esame
Assessment result: voto verbalizzato in trentesimi
Single course
This course cannot be attended as a single course. Please check our list of single courses to find the ones available for enrolment.
Course syllabus and organization
Single session
Responsible
Lesson period
First semester
Course syllabus
ECTS n.1 - Introduction to Natural Resource and Environmental Economics
Overview of natural resource and environmental economics. The role of natural resources within the economic system.
ECTS n.2 - Market Goods and Environmental Goods
Differences between market goods and environmental goods. Allocation of environmental resources. Regulation of markets for public and environmental goods.
ECTS n.3 - Sustainable Development
Ethics and sustainability. Types of sustainability. Static and dynamic efficiency. The Environmental Kuznets Curve and related issues. Economic analysis of natural resources. Investment analysis incorporating environmental impacts. Fundamentals of cost-benefit analysis.
ECTS n.4 - Valuing the Environment
Methods for assessing environmental assets. Valuation techniques based on demand and non-demand approaches. Travel Cost Method, Hedonic Pricing Method, Contingent Valuation Method, and Choice Experiment Method.
ECTS n.5 - Resource Typologies
Renewable, recyclable, and non-renewable resources.
ECTS n.6 - Models of Resource Use and Environmental Regulation
Analytical models for the use of renewable and non-renewable resources (land, energy, water, biodiversity). Economic tools for environmental management: market-based instruments, taxes, tradable permits, and regulatory standards.
Overview of natural resource and environmental economics. The role of natural resources within the economic system.
ECTS n.2 - Market Goods and Environmental Goods
Differences between market goods and environmental goods. Allocation of environmental resources. Regulation of markets for public and environmental goods.
ECTS n.3 - Sustainable Development
Ethics and sustainability. Types of sustainability. Static and dynamic efficiency. The Environmental Kuznets Curve and related issues. Economic analysis of natural resources. Investment analysis incorporating environmental impacts. Fundamentals of cost-benefit analysis.
ECTS n.4 - Valuing the Environment
Methods for assessing environmental assets. Valuation techniques based on demand and non-demand approaches. Travel Cost Method, Hedonic Pricing Method, Contingent Valuation Method, and Choice Experiment Method.
ECTS n.5 - Resource Typologies
Renewable, recyclable, and non-renewable resources.
ECTS n.6 - Models of Resource Use and Environmental Regulation
Analytical models for the use of renewable and non-renewable resources (land, energy, water, biodiversity). Economic tools for environmental management: market-based instruments, taxes, tradable permits, and regulatory standards.
Prerequisites for admission
Microeconomics basis.
Teaching methods
The course includes lectures, seminars, workshops for 6 ECTS.
The lectures provide a solid foundation on key terms and definitions in economics, facilitating the acquisition of specialized language. Through detailed explanations of concepts and tools (such as graphs and tables), students learn the methods of economic analysis and how to apply analytical tools to real situations. By using case studies and practical examples, the lectures help students connect theory and practice, facilitating the understanding of current economic issues such as growth and inflation.
Seminars, on the other hand, encourage the reading and critical analysis of economic articles, promoting the ability to understand and discuss complex content. Students are stimulated to improve their communication and argumentation skills, as well as to strengthen their understanding of the material. Through the discussion of controversial and current topics, they learn to formulate and defend their opinions, honing their critical and communicative abilities.
Attendance is not compulsory but strongly recommended. The non-attending students can't participate at workshops.
The lectures provide a solid foundation on key terms and definitions in economics, facilitating the acquisition of specialized language. Through detailed explanations of concepts and tools (such as graphs and tables), students learn the methods of economic analysis and how to apply analytical tools to real situations. By using case studies and practical examples, the lectures help students connect theory and practice, facilitating the understanding of current economic issues such as growth and inflation.
Seminars, on the other hand, encourage the reading and critical analysis of economic articles, promoting the ability to understand and discuss complex content. Students are stimulated to improve their communication and argumentation skills, as well as to strengthen their understanding of the material. Through the discussion of controversial and current topics, they learn to formulate and defend their opinions, honing their critical and communicative abilities.
Attendance is not compulsory but strongly recommended. The non-attending students can't participate at workshops.
Teaching Resources
The teaching material is available on MyAriel platform (teacher's website) and includes slides, in-depth articles, suggested text book.
Book: Tietenberg T. and Lewis L., Natural resource economics: the essentials. Routledge ed., Taylor and Francis group, 2024 (or past editions).
No differences between attending and non-attending students.
Book: Tietenberg T. and Lewis L., Natural resource economics: the essentials. Routledge ed., Taylor and Francis group, 2024 (or past editions).
No differences between attending and non-attending students.
Assessment methods and Criteria
Written test at the end of the course. The written exam consists of 4 open-ended questions on topics covered during the course. The exam grade is given on a scale of 30 (30/30).
The expected duration for the test is 90 minutes.
The open questions allow for verification of the students' comprehension and elaboration of the concepts. Specifically, the assessment will focus on the clarity of the exposition, the relevance of the content, and the critical ability to elaborate and express written responses.
The use of calculators or other support tools is not required. No differences between attending and non-attending students.
Are expected: - Two exam sessions at the end of the course (January, February) - An exam session during the ongoing tests (April, November) - An exam session in June, July.
Students with SLD or disability certifications are kindly requested to contact the teacher at least 15 days before the date of the exam session to agree on individual exam requirements. In the email please make sure to add in cc the competent offices: [email protected] (for students with SLD) o [email protected] (for students with disability). The exam sessions begin at the end of the course, the first session in usually held in January. Basically are planned:
a) two exam sessions at the end of the first semester (January, February);
b) one exam session during the ongoing tests (April, November);
c) two exam sessions at the end of the second semester (June, July).
The expected duration for the test is 90 minutes.
The open questions allow for verification of the students' comprehension and elaboration of the concepts. Specifically, the assessment will focus on the clarity of the exposition, the relevance of the content, and the critical ability to elaborate and express written responses.
The use of calculators or other support tools is not required. No differences between attending and non-attending students.
Are expected: - Two exam sessions at the end of the course (January, February) - An exam session during the ongoing tests (April, November) - An exam session in June, July.
Students with SLD or disability certifications are kindly requested to contact the teacher at least 15 days before the date of the exam session to agree on individual exam requirements. In the email please make sure to add in cc the competent offices: [email protected] (for students with SLD) o [email protected] (for students with disability). The exam sessions begin at the end of the course, the first session in usually held in January. Basically are planned:
a) two exam sessions at the end of the first semester (January, February);
b) one exam session during the ongoing tests (April, November);
c) two exam sessions at the end of the second semester (June, July).
AGR/01 - AGRICULTURAL ECONOMICS AND RURAL APPRAISAL - University credits: 6
Lessons: 48 hours
Professor:
Mazzocchi Chiara
Professor(s)
Reception:
By appointment.
Celoria 2, Engineering building, office tel. 16488