Environmental Economics (NEW)
Human well-being is closely tied to our ability to produce and consume goods and services. However, this activity has a profound and often unsustainable impact on the environment. How can we address this growing challenge?
This course explores the fundamental economic concepts necessary to understand human societies as open systems—systems that require the constant flow of energy and materials, while also generating waste. This dynamic, known as social metabolism, highlights the biophysical processes that underpin economies and the critical role natural resources play in sustaining economic activity.
In addition to examining the ecological dimensions of economics, the course will analyze how institutional frameworks create or remove incentives for the consumption and conservation of energy and materials. We will also delve into how various policy approaches tackle today’s pressing environmental issues, providing students with tools to critically assess sustainable practices and potential solutions for a more balanced relationship between the economy and the environment.