University of Liege | Version française
Academic year 2014-2015Value date : 12/05/2015
ECON2248-1  Environmental economy

Duration :  24h Th
Number of credits :  
Master in Agricultural Bioengineering, Professional Focus, 2nd year2
Master in Environmental Bioengineering, Professional Focus, 2nd year2
Master in Forests and natural Areas Engineering, Professional Focus, 1st year2
Lecturer :  Kevin Maréchal
Language(s) of instruction :  
French language
Organisation and examination :  
Teaching in the first semester, review in January
Course contents :  
1. Etymological, epistemological, historical and theoretical foundations of the study of th interections between the economic and environmental spheres
2. Analysis of key notions in environmental economics : externalities, public goods, pigovian taxe, coasian bargain, etc.
3. Discussion of the central issue of 'value' (use, non-use, option, existence, etc.)
4. Detailed and careful analysis f the main 'valuation methods' of environmental assests and their connection with the market
5. Presentation and discussion of the Cost-Benefit Analysis (CBA) for the management of environmental assests
6. Integration of the issues of uncertainty and time thorugh discounting: an illustration with the economics of climate change
7. Discussion of the relationship between GDP growth, environmental quality and well-being
8. Complementary insights to traditional environmental economics : theory of habits, technological lock-in, alternatives to GDP, etc.
Learning outcomes of the course :  
Objective of the lecture:
Acquire and develop a competent use of the key concepts that are necessary for a good understanding of the issues related to the interactions between the economic and environmental spheres
At the end of the class, the student is expected to be able to:
- grab, with his own words, the main notions exposed during the lecture - provide a critical analysis of a short scientific paper dealing with a current environmental issue - mobilise the knowledge acquired to write a short essay being placed in the concrete situation of an environmental economist dealing with a cross-cutting issue
Prerequisites and co-requisites/ Recommended optional programme components :  
Course in political economy
Course in mathematics
Planned learning activities and teaching methods :  
Mode of delivery (face-to-face ; distance-learning) :  
Lectures : 24h
Recommended or required readings :  
The only mandatory reading is the scientific paper that is to be critically assessed during the final exam
Assessment methods and criteria :  
Written examination (100%)
Work placement(s) :  
Organizational remarks :  
The lecture requires the active involvement of students
2 sessions will be provided by external experts and be devoted to applied issues
Contacts :  
Maréchal Kevin, (Assistant Professor)
CEESE-ULB 44 Avenue Jeanne CP 124 1050 Brussels
+32 2 650 33 32


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