Natural Resource Economics
A.Y. 2026/2027
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 credit no. 1
Introduction to natural resource and environmental economics. The role of natural resources in the economic system and their relevance for production, consumption, and social welfare.
ECTS credit no. 2
Market goods and environmental goods. Environmental goods, externalities, and resource allocation. The role of public intervention in regulating markets for public goods and environmental goods.
ECTS credit no. 3
Sustainable development: definitions, principles, and main approaches. Ethics and sustainability. Different types of sustainability. Static and dynamic efficiency. Environmental Kuznets curves and related issues. Economic analysis of natural resources. Investment analysis including environmental effects. Basic principles of cost-benefit analysis.
ECTS credit no. 4
The economic value of the environment. Methods for the valuation of environmental goods and assets. Valuation methods based on demand curves and methods not based on demand curves. Travel Cost Method, Hedonic Pricing Method, Contingent Valuation Method, and Choice Experiments Method.
ECTS credit no. 5
Renewable, recyclable, and non-renewable resources. Main economic characteristics, use patterns, and management issues related to different types of natural resources.
ECTS credit no. 6
Interpretative models for the use and management of renewable and non-renewable resources, with reference to land, energy, water, and biodiversity. Economic instruments for environmental control and regulation: market-based incentives, environmental taxes, tradable permits, and standards.
Introduction to natural resource and environmental economics. The role of natural resources in the economic system and their relevance for production, consumption, and social welfare.
ECTS credit no. 2
Market goods and environmental goods. Environmental goods, externalities, and resource allocation. The role of public intervention in regulating markets for public goods and environmental goods.
ECTS credit no. 3
Sustainable development: definitions, principles, and main approaches. Ethics and sustainability. Different types of sustainability. Static and dynamic efficiency. Environmental Kuznets curves and related issues. Economic analysis of natural resources. Investment analysis including environmental effects. Basic principles of cost-benefit analysis.
ECTS credit no. 4
The economic value of the environment. Methods for the valuation of environmental goods and assets. Valuation methods based on demand curves and methods not based on demand curves. Travel Cost Method, Hedonic Pricing Method, Contingent Valuation Method, and Choice Experiments Method.
ECTS credit no. 5
Renewable, recyclable, and non-renewable resources. Main economic characteristics, use patterns, and management issues related to different types of natural resources.
ECTS credit no. 6
Interpretative models for the use and management of renewable and non-renewable resources, with reference to land, energy, water, and biodiversity. Economic instruments for environmental control and regulation: market-based incentives, environmental taxes, tradable permits, and standards.
Prerequisites for admission
Microeconomics basis.
Teaching methods
The course, worth 6 ECTS credits, includes lectures, seminars, and workshops.
Lectures aim to provide students with a solid foundation in the main concepts, terms, and definitions of economics, supporting the acquisition of the specialized language of the discipline. Through the explanation of theories, models, and analytical tools, such as graphs and tables, students will be guided in understanding the methods of economic analysis and in applying them to real-world situations.
Seminars are designed to promote the reading, understanding, and critical analysis of economic articles and texts. These activities aim to develop students' ability to interpret complex content, discuss relevant and current economic issues, and strengthen their communication and argumentation skills. Through the discussion of controversial topics and practical cases, students will be encouraged to formulate, support, and defend their opinions in a critical and informed manner.
Workshops will have an applied and participatory approach and will focus on the in-depth study of specific course topics, also through exercises, guided discussions, and group activities.
Attendance is not mandatory but is strongly recommended, as it allows students to gain a better understanding of the course content and to actively participate in teaching activities. Non-attending students will not be able to take part in the workshops.
Lectures aim to provide students with a solid foundation in the main concepts, terms, and definitions of economics, supporting the acquisition of the specialized language of the discipline. Through the explanation of theories, models, and analytical tools, such as graphs and tables, students will be guided in understanding the methods of economic analysis and in applying them to real-world situations.
Seminars are designed to promote the reading, understanding, and critical analysis of economic articles and texts. These activities aim to develop students' ability to interpret complex content, discuss relevant and current economic issues, and strengthen their communication and argumentation skills. Through the discussion of controversial topics and practical cases, students will be encouraged to formulate, support, and defend their opinions in a critical and informed manner.
Workshops will have an applied and participatory approach and will focus on the in-depth study of specific course topics, also through exercises, guided discussions, and group activities.
Attendance is not mandatory but is strongly recommended, as it allows students to gain a better understanding of the course content and to actively participate in teaching activities. Non-attending students will not be able to take part in the 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
The assessment consists of a written test held at the end of the course. The written exam includes four open-ended questions on the topics covered during the course. The final grade is expressed on a scale of 30, with 30/30 being the highest mark.
The expected duration of the exam is 90 minutes.
The open-ended questions are designed to assess students' understanding of the course topics and their ability to elaborate on the concepts studied. Specifically, assessment will be based on the clarity of the written responses, the relevance and accuracy of the content, and the students' critical thinking and analytical skills.
The use of calculators or other supporting tools is not required. There are no differences in the assessment methods between attending and non-attending students.
Exam sessions are scheduled as follows: two sessions at the end of the first semester, usually in January and February; one session during the mid-term examination periods, usually in April and November; and two sessions at the end of the second semester, usually in June and July. The first exam session is normally held in January, after the end of the course.
Students with certified Specific Learning Disorders (SLD) or disabilities are kindly requested to contact the instructor at least 15 days before the exam date to discuss any individual examination arrangements. In the email, please make sure to copy the relevant office: [email protected] for students with SLD, or [email protected] for students with disabilities.
The expected duration of the exam is 90 minutes.
The open-ended questions are designed to assess students' understanding of the course topics and their ability to elaborate on the concepts studied. Specifically, assessment will be based on the clarity of the written responses, the relevance and accuracy of the content, and the students' critical thinking and analytical skills.
The use of calculators or other supporting tools is not required. There are no differences in the assessment methods between attending and non-attending students.
Exam sessions are scheduled as follows: two sessions at the end of the first semester, usually in January and February; one session during the mid-term examination periods, usually in April and November; and two sessions at the end of the second semester, usually in June and July. The first exam session is normally held in January, after the end of the course.
Students with certified Specific Learning Disorders (SLD) or disabilities are kindly requested to contact the instructor at least 15 days before the exam date to discuss any individual examination arrangements. In the email, please make sure to copy the relevant office: [email protected] for students with SLD, or [email protected] for students with disabilities.
AGRI-01/A - Agricultural and Food Economics, and Rural Appraisal - University credits: 6
Lessons: 48 hours
Professor:
Mazzocchi Chiara
Shifts:
Turno
Professor:
Mazzocchi ChiaraProfessor(s)
Reception:
By appointment.
Celoria 2, Engineering building, office tel. 16488