Environmental Economics and Appraisal

Environmental Economics (Prof Bertoni)
1) Introduction to environmental economics; Environmental economics history; Natural resources in classical and neoclassical economics; Environmental economics, natural resources economics and ecological economics
2) Environment-economy interactions; Economic growth and environmental sustainability; Sustainable development
3)Environmental microeconomics; Market failure; Private and public goods; Externalities; The socially optimal level of pollution; Pollution regulation: Incentive vs command-and-control mechanism; The socially optimal level of pollution and taxation; The polluter-pays principle; The pigouvian tax; The costs of pollution reduction; Pollution taxes effects on consumers; Economical implications of command-and-control approach; Taxes vs standards in the presence of information asymmetry; Environmental subsidies; Deposit-refund systems; Tradable emission permits; The Kyoto Protocol and EU emission trading system
4) Renewable natural resources economics
5)Agriculture multifunctionality; Multifunctionality: theoretical background; Joint production and externalities linked to agricultural production; The multiple functions of agriculture and ecosytem services; Multifunctionality: policy implications
6) The Common Agricultural Policy; The green architecture of the CAP; The CAP greening process CAP cross-compliance; The Rural Development Policy; The agro-environmental measures; the CAP 2023-2027.

Environmental economic appraisal (Prof Peri)
Capital, interest, rate. Simple interest, compound interest. Transfer of values over time.
Characteristic's and aims of appraisals. The value. Economical aspects (market value, cost value, capitalization value, complementary value, transformation value, subrogation value). Estimation procedures.
Conceptual foundation for the economic valuation of public goods. The total economic value (use and non-use). Monetary and non-monetary assessments;
Procedures for the assessment of plans and projects, nature and object of valuation. Economic evaluation of public and private projects, cost benefit analysis. Outline on monetary methods for estimating the total economic value: (travel costs, hedonic prices, contingent valuation, choice experiments, benefit transfer). The social discount rate. Financial evaluation of investment convenience.
Methods for the evaluation of private investments: cash flows analysis, indexes analysis (net present value, internal rate of return)