Teaching staff:
Kampas Athanasios
Assistant Professor, Department of Agricultural Economics & Rural Development, Agricultural University of Athens
Michalis Skourtos
Professor, Department of Environmental Studies, University of the Aegean

Outline of the main issues covered:

• Economy and environment; economic principles and models for natural resources management; renewable and non-renewable resources.
• The meaning of externalities; economic efficiency and market failure; theoretical and practical approaches for “internalising” externalities.
• Valuing environmental benefits; introduction to the likely methods for valuing environmental benefits; advantages and disadvantages of alternative valuation methods.
•  Policy measures for environmental management; economic analysis of likely environmental objectives and the relative means of achieving these objectives; effective and non-effective policy measures.
•  On the economic interpretation of sustainable development; definitions, concepts and school of thoughts. Practical and ethical problem of applied research.