Ecological EconomicsLecture 1
Tiago DomingosAssistant Professor
Environment and Energy SectionDepartment of Mechanical Engineering
Doctoral Program and Advanced Degree in Sustainable Energy SystemsDoctoral Program in Mechanical Engineering
Doctoral Program in Environmental Engineering
Assessment
• Problem sets and small projects (possibly related to term paper)– groups
– only a random sample is graded
– 40%
• Final examination– Individual
– 30%
• Term paper– Individual or Groups
– 30%
Syllabus I
• Scale (ecology), distribution (ethics), efficiency (economics), constraints (thermodynamics)
• Formal analogy– Microeconomics and thermodynamics– Biophysical valuation– Industrial ecology, industrial metabolism
• Substantive integration– Thermodynamics and ecology: DEB– Thermodynamics and economics: Ayres
• Epistemology and sociology of science• Ethics and welfare• Static vs. intertemporal optimisation
– Lagrangian multipliers– Maximum principle
Syllabus II
• Microeconomics– Review of consumer theory
– Review of producer theory
– Review of market structures
– Game theory
– Evolutionary and institutional economics
• Pollution economics; pollution control instruments
Market Equilibria and Externalities
y
MPC
MPB
MSC
Market equilibrium
Social optimum
Syllabus III
• Ecological and economic networks– Life Cycle Analysis
– Input-Output Analysis
– Computable General Equilibrium Models
– Indicators of environmental responsibility
• Economic valuation methods
• Intertemporal choice and uncertainty– Discount rate
– Cost-benefit analysis;
Syllabus IV
• Sustainable development– Weak vs. strong sustainability
– Economic growth theory• Neoclassical and endogenous
• Ayres
– Economic theory of sustainable development
– Biophysical and other indicators of sustainable development• Index of sustainable economic welfare
• Ecological footprint
• Human Appropriation of Net Primary Production
• EcoIndicator95, EcoIndicator99
– Environmental Kuznets hypothesis
Readings for the Next Lecture
• Varian, Intermediate Microeconomics– Consumer theory: chapters 2, 3, 4, 5, 6.
• Common and Stagl, Ecological Economics– Introduction to Ecological Economics: chapter 1.
“Empty World” Economics
Costanza, R., J. Cumberland, H. Daly, R. Goodland, R. Norgaard (1997). An Introduction to Ecological Economics. St. Lucie Press, Boca Raton, FL, USA.
“Full World” Economics
Costanza, R., J. Cumberland, H. Daly, R. Goodland, R. Norgaard (1997). An Introduction to Ecological Economics. St. Lucie Press, Boca Raton, FL, USA.
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