37899 - Environmental Economics

Academic Year 2021/2022

  • Teaching Mode: Traditional lectures
  • Campus: Rimini
  • Corso: Second cycle degree programme (LM) in Tourism Economics and Management (cod. 8609)

Learning outcomes

The purpose of this course is to enable students to rigorously apply appropriate resource evaluation and decision-making methodologies. In particular, as regards evaluation methods where decisions have marginal impacts in a non-competitive market, theories and applications will be shown in case of tradable and non-tradable resources: in the sub-case of tradable resources, the concept of shadow exchange rate will be introduced; while in the sub-case of non-tradable resources, the concepts of willingness to pay and opportunity costs will be discussed. Evaluation methods where decisions have non-marginal impacts will also be presented. As regards evaluation methods where there is no market, both production approaches (e.g., response method, replacement cost, opportunity cost, preventive cost) and utility approaches (e.g., revealed preferences and stated preferences) will be discussed. Students will also be taught recent theories and applications of evaluation methods as dependent on available information such as (fuzzy or crisp) Cost Effectiveness Analysis, (fuzzy or crisp) Multi-Criteria Analysis, (fuzzy or crisp) Threshold Analysis, (fuzzy or crisp) Cost-Benefit Analysis. Next, as for decision-making methods, as dependent on the appropriate evaluation methods, the choice of a strategy or some strategies will be tackled, by optimising or non-optimising, ranking or combining them, within constrained or non-constrained problems. Students will also be taught recent theories and applications of decision-making methods under uncertainty or risk, time spans, space interactions, indirect effects, and distributive effects.

Course contents

Sustainability paradigms (e.g., Economic general equilibrium vs. Ecosystem services, Weak vs. strong sustainability, de-growth vs. a-growth)

Assessment approaches (e.g., Life Cycle Assessment, Cost Benefit Analysis, Multi-Criteria Analysis)


  • Time and space

  • Uncertainty

  • Intra and inter generations equity

  • Ecological interdependencies in time and space

  • Social interdependencies

  • Economic interdependencies


H.F.Campbell and R.P.C.Brown, Benefit-Cost Analysis, Cambridge University Press

Assessment methods

Written examination, 90 minutes long and based on 3 open questions. Notes or other materials are not allowed.

Students can reject the grade obtained at the exam once. To this end, he/she must email a request to the instructor within the date set for registration. The instructor will confirm reception of the request within the same date.

Teaching tools

Zagonari, F. (2016) Four Sustainability Paradigms for Environmental Management: A Methodological Analysis and an Empirical Study Based on 30 Italian Industries, Sustainability 8: 1-34

Zagonari, F. (2019) Multi-Criteria, Cost-Benefit, and Life-Cycle Analyses for Decision-Making to Support Responsible, Sustainable, and Alternative Tourism, Sustainability 11: 1038-1073

Office hours

See the website of Fabio Zagonari


Sustainable cities

This teaching activity contributes to the achievement of the Sustainable Development Goals of the UN 2030 Agenda.