Introduction to economics (ECON755_ESBC)

• Semester 7
• Duration :  Within one semester  
• Type: Mandatory

• Student workload:  Lecture (CM): 21 hours

• Applicability: ESBC (common with SOLEM, first part) and SOLEM only after

• Module examination:  Graded readings (10%),  Presentation at the end of the semester (20%), Final exam (70%).

Responsible person for the module: Aude Pommeret, Professor of economics (USMB, IAE, IREGE laboratory)

Co-responsible for the Environment, Sustainable Consumption, Tourism axis

Research topics: energy policy, environmental policy, irreversibility

Personal site: https://sites.google.com/site/aupommeret/

Major intended learning outcomes 

This course provides an in-depth understanding of the economic aspects of environmental issues and the policy interventions designed to address them. It covers theoretical frameworks and applied aspects of environmental economics, focusing on pollution control, resource management, and sustainable development. 

Learning Objectives: 

By the end of this course, students will be able to: 

• Understand and apply basic economic principles to environmental issues. 
• Analyze environmental policies using economic tools. 
• Evaluate the effectiveness and efficiency of various environmental regulations and market-based approaches. 
• Develop economic arguments related to environmental management and sustainability. 

Correspondence between major intended learning outcomes and assessment 

The final exam will cover the entire course content, ensuring that students have retained and can apply basic economic principles to broader, more complex environmental scenarios discussed throughout the semester. 

For non economists, recommended to read Perloff ch3&6     

For economists, recommended to read Perloff ch5&10  

Course Outline: 

• Introduction to economics; introduction to microeconomics (1 Lecture).  
• Keywords: invisible hand, incentives, marginality, supply/demand curves, market equilibrium, optimum. 
•  Externalities, market failure, Pigovian fees, and the efficient level of pollution (2 Lectures).  
• Keywords: rival and excludable goods, public and private goods, common property resources, tragedy of the commons, Coase theorem, polluter pays principle, taxes, subsidies, quotas. 
• Exploitation of a non-renewable resource (1 Lecture). Keywords: fossil energy, minerals, Hotelling’s rule, scarcity rent.  
• Presentations (1 lecture)

For evaluation 

Using Perusall : www.perusall.com 

To get ready: Perloff J.M., Microeconomics: Theory and Application with Calculus, Pearson Education, 2018. 

 Kolstadt C.D. : Environmental Economics, Oxford University Press, 2000, 2010. 

 Perman R., Ma Y. and McGuilvray J. : Natural Resources and Environmental Economics, Pearson Education 3d ed., 2003 

 Tietenberg T. and Lewis  L. : Environmental Economics and Policy, Pearson Education, 6th ed 

 Varian H. : Intermediate Microeconomics, W.W. Norton 9th ed.