96685 - Green and Landscape Economics and Policies

Learning outcomes

At the end of the course, the student will acquire fundamental knowledge related to economics, markets, and economic policies, with particular reference to agriculture, environment and green areas management.
The student will be able to assess the market dynamics of the sector and the development opportunities for businesses, developing the ability to critically evaluate collected and surveyed data and to communicate it effectively across various contexts.
Finally, the student will be able to independently evaluate investments and management practices in businesses within the specific sector, also considering the availability of financial resources accessed through national and international sector policies, and the guidance provided by environmental and rural law.

Course contents

Teaching Unit 1

Introduction and course objectives. Elements of general economics: the economic system. The economic "problem": objectives of economics.
Elements of microeconomics (1): scarcity, production, consumption, and the firm.

Teaching Unit 2

Elements of microeconomics (2): The economic model, demand and supply theory, market equilibrium, demand and supply curves.
Positive and normative analysis.

Teaching Unit 3

Market structures: definition and mechanisms.
Consumer and Theory of the Firm: Budget Constraint, Indifference Curves, and Production Isoquants.
Sectoral and production-level choices, consumer and producer surplus.

Teaching Unit 4

Determinants of demand and supply, elasticity of demand and supply, marginal utility.
The farm and the firm. Fixed and variable costs.
Economies and diseconomies of scale.

Teaching Unit 5

The agricultural entrepreneur: legal framework, related activities, taxation.

Teaching Unit 6

Economics of information. Characteristics and supply of informational goods.
Risk and insurance.
Information asymmetry, moral hazard, adverse selection.

Teaching Unit 7

Normative economics. Elements of welfare economics: efficiency, equity, and sustainability.
First and second fundamental theorems of welfare.
Market failures.

Teaching Unit 8

Environmental economics: elements (1). Market failures, externalities.
Nature of common resources, public goods, markets and the environment.
Internalization of externalities.

Teaching Unit 9

Environmental economics: elements (2). Public policy instruments: regulations, taxes, incentives, tradable permits and credits.
Biodiversity and ecosystem services. The "tragedy of the commons."

Teaching Unit 10

Common Agricultural Policy (CAP): priorities and principles, reform milestones from MacSharry to Agenda 2000.
The Fischler reform.
First and second pillars of the CAP, agri-environmental incentives, eco-schemes.
Objectives, areas of intervention, and tools of rural development policy.

Readings/Bibliography

D. Begg, S. Fischer, R. Dornbusch. Economia. McGraw Hill 2 edition.

D. Begg, S. Fischer, R. Dornbusch. Microeconomia. McGraw Hill 3 edition.

F. Sotte, La politica agricola europea. Storia e analisi. Firenze University Press.

R. Kerry Turner, D. W. Pearce, I. Bateman. Economia ambientale. Il mulino.

I. Musu. Introduzione all’economia ambientale. Il mulino.

Teaching methods

The course is delivered through lectures supported by PowerPoint presentations.

Frontal lectures are integrated with laboratory activities, which are an integral part of the course and aim to reinforce understanding of classroom topics and facilitate alignment of students’ prior knowledge. Students will also attend:

• Seminars
• Classroom exercises
• Case studies applying agri-environmental measures in real businesses

Assessment methods

Oral exam at the end of the course, possibly preceded by written midterm assessments.

Teaching tools

Lectures are supported by presentation slides and interactive quizzes using tools available on the Virtuale platform (e.g., Mentimeter).
Recorded lectures will be available for working students.

Office hours

See the website of Stefano Targetti