91568 - Mineral Resource Economics and Management

Learning outcomes

The course aims at providing students with the tools to understand issues related to the economics and management of raw materials and its relationship with economic and environmental sustainability. To achieve this goal the course is organized into two distinct yet interrelated modules. In the first module the students will learn how to use and interpret models of resource extraction and harvesting and their implications in terms of pricing of raw materials, environmental pollution and sustainability of economic systems. In the second module, students will acquire a methodological toolkit to autonomously design, understand, and evaluate the economic costs of any venture or governmental initiative related to sustainable materials and their use. The course argues that sustainable business related to materials at its very heart is a matter of innovation because if businesses want to develop sustainable products, service, strategies and solutions they need to be good at innovating their products, services, business models, etc.

Course contents

• Introduction to the course, managemenemt and business models
• Introduction to company financial reporting
• Introduction to corporate finance Engineering fundamentals of energy efficiency and material efficiency
• Map of natural resource supply, transformation, and use in final services
• Drivers and key of success of mineral exploration and exploitation activities
• Introduction to business ethics

Readings/Bibliography

David Humphreys, The Remaking of the Mining Industry. Palgrave Macmillan, 2015, 250 pages.

Allwood, JM, and Cullen, J, Sustainable Materials - with both Eyes Open, Cambridge, 2012, Cambridge. Part I, II and III. Available also at http://www.withbotheyesopen.com/

McKay, D J., Sustainable Energy - without the Hot Air, UIT, Cambridge, 2008. Available also at http://www.withouthotair.com/. Part I, III and IV.

Tirole, J., Economics for the Common Good, translated by Steven Rendall, Princeton University Press, Princeton, 2018. Chapters 2, 4 and 8.

Teaching methods

The course attempts to reach its learning objectives by offering a balanced menu of theory and business cases, internal discussions and guest speakers. The course will encompass the following elements: lectures by the instructor; group and individual case studies and assignments; interactive guest lecturers; plenary discussions on selected sets of readings and in-class presentations by students.

Assessment methods

The individual performance is evaluated through individual assignments, the final written test and class participation. The group’s performance is evaluated through a group assignment that will consist in the analysis of the mining company financial reports in the light of the 17 Global Goals for Sustainable Development.

The grades in the Italian university system are expressed out of thirty. The passing grade is 18/30. In case of full grade (30/30) the Professor may also decide to award honours (lode).

Teaching tools

Business cases

Guest lectures

Video material

Office hours

See the website of Alessandro Pastore

See the website of Meng Wang