Ateneo - UPO

The course introduces the economic analysis of climate change. After presenting how economists reason and the main analytical tools they use — demand, supply, market equilibrium, price formation, price ceilings and floors, subsidies, and government intervention — the course examines the role of investment and economic policy in growth and the ecological transition.

It analyses the economic consequences of climate change, adaptation and mitigation policies, and the main national and international policy frameworks, including the United Nations 2030 Agenda, the Conferences of the Parties, the European Green Deal, and Italy’s National Recovery and Resilience Plan. Through data analysis, current case studies, games, and group activities, students will learn to interpret public and business decisions in light of the climate challenge.

N. G. Mankiw and M. P. Taylor (2022), Principi di economia, 8th edition, Zanichelli.
R. S. Pindyck (2022), Climate Future: Averting and Adapting to Climate Change, Oxford University Press, ISBN 9780197647349.
L. Castellucci (2017), Lezioni di politica economica ambientale, Esculapio.

The chapters and sections required for the examination will be specified during the course. Additional teaching and reference materials — including academic and general-interest articles, reports issued by national and international institutions, databases, and economic policy documents, some of which may be in English — will be made available on the course’s DIR page.

The course aims to provide students with the basic economic knowledge required to understand how markets operate and the role of government intervention, and to apply this knowledge to the analysis of climate change.

It is designed to develop students’ ability to interpret climate change as an economic, social, and production-related issue; to understand its effects on growth, investment, and business activities; and to become familiar with the main economic policy instruments used to promote mitigation, adaptation, and the ecological transition.

The course also aims to provide the tools needed to critically interpret data, international agreements, and economic policy programmes, assessing the benefits, costs, and possible trade-offs associated with different strategies. Particular attention will be devoted to the ability to connect climate policy guidelines with business decisions and strategies.

No previous knowledge of economics is required. Basic familiarity with the interpretation of graphs, tables, and quantitative data may be helpful, but it is not a prerequisite. The economic concepts and tools required for the course will be introduced during the classes.

The course combines interactive lectures with exercises, guided analysis of graphs and data, discussions of current case studies, educational games, and simulations designed to improve understanding of economic mechanisms.

Guest lectures, group activities, teamwork, and the development and presentation of a project are also planned. These applied activities will enable students to use the concepts and models discussed in class to interpret contemporary economic issues related to climate change and to assess possible public-policy and business decisions.

Teaching materials, data, instructions for class activities, and project-work requirements will be published on the course’s DIR page.

Attendance is strongly recommended, particularly in order to participate in applied activities, discussions, teamwork, and project work. Teaching materials, announcements, and operational instructions will be published on the course’s DIR page.

Students with disabilities, Specific Learning Disorders (DSA), or Special Educational Needs (BES) may request dedicated services and support tools by contacting the University’s Staff Sviluppo e Coordinamento Carriere e Servizi alle Studentesse e agli Studenti and consulting the relevant page of the University website:

https://uniupo.it/it/servizi/servizi-studenti-disabili-e-dsa

After contacting the relevant University staff, students with disabilities, DSA, or BES may contact the course instructor to discuss the application of the approved measures and the arrangements for the examination in relation to teaching and assessment activities.

The assessment of the Integrated Course in Climate Change consists of a written examination structured as follows:
-two open-ended questions for the Physics of Climate and the Environment module;
- three open-ended questions for the Economic Policies and Strategies for Sustainability module;
- multiple-choice questions for the Climate and Health module.
The final grade for the integrated course is determined by weighting the result obtained in each module according to the corresponding number of ECTS credits.

For the Economic Policies and Strategies for Sustainability module, answers will be assessed on the basis of knowledge of economic concepts and models, accuracy of reasoning, ability to apply analytical tools to real-world cases, ability to interpret data and policies, and clarity of presentation.
For students who regularly participate in classroom activities, the assessment will also include:
- contribution to exercises and teamwork activities;
- quality of the project and the related presentation;
- a reduced written examination consisting of one question for the Physics of Climate and the Environment module and two questions for the Economic Policies and Strategies for Sustainability module.

For students who do not take part in the continuous assessment pathway, the grade for the Economic Policies and Strategies for Sustainability module will be based on the three questions included in the written examination.

The examination syllabus, duration of the test, number and scoring of the multiple-choice questions, detailed assessment criteria, and project-work deadlines will be communicated on the course DIR page before the relevant activities take place.

The course content is organised into the following thematic areas.

1. How economists reason and the basic tools of economic analysis

the subject matter and methods of economics;
incentives, costs, and benefits in decision-making;
demand, supply, and market equilibrium;
price formation and the function of prices;
price ceilings and price floors;
subsidies and the main forms of government intervention;
interpretation of graphs, data, and simple economic models.

2. Economic growth, investment, and economic policy

the role of investment in economic growth;
the relationship between growth, innovation, and the ecological transition;
objectives and instruments of economic policy;
government intervention, incentives, and investment programmes;
Italy’s National Recovery and Resilience Plan;
the European Green Deal and policies for the ecological transition.

3. The economics of climate change

climate change as an economic problem;
its main economic and distributional consequences;
the costs of inaction and of climate policies;
mitigation and adaptation policies;
economic tools and models used to assess the effects of climate change and possible intervention strategies;
implications of climate policies for households, businesses, and the public sector.

4. Climate policy and governance

objectives and indicators of the United Nations 2030 Agenda;
the Conferences of the Parties and international climate negotiations;
the main objectives and instruments of European and national climate policies;
the use of data and indicators to understand the scale of the phenomenon and assess its economic effects.

5. Applied activities

Classes will include data analysis, educational games, simulations, discussions of current case studies, group activities, and project work. These activities will be designed to help students interpret major contemporary economic developments through the lens of climate change and apply theoretical concepts to concrete public-policy and business decisions.

By the end of the course, students will have achieved the following learning outcomes.

Knowledge and understanding
Students will be able to:
- describe the main economic concepts and mechanisms covered in the course;
- explain how demand, supply, market equilibrium, prices, and government intervention operate;
- understand the role of investment and economic policy in growth and the ecological transition;
- identify the main economic consequences of climate change and the principal mitigation and adaptation instruments;
-describe the main national and international climate-policy frameworks.

Applying knowledge and understanding
Students will be able to:
- use simple economic models, graphs, and data to analyse concrete problems;
- interpret current economic cases through the lens of climate change;
- connect economic and climate policy guidelines with business decisions;
- assess how investment, strategies, and business processes can be aligned with ecological-transition objectives;
- identify measures capable of combining environmental sustainability and collective well-being with business objectives and performance.

Making judgements
Students will be able to critically compare alternative policies and instruments, identifying their costs, benefits, limitations, distributional effects, and possible trade-offs.

Communication skills
Students will be able to present and discuss economic analyses and project proposals using appropriate terminology, relevant data, and coherent arguments, including in group activities.

Learning skills
Students will be able to independently identify, select, and interpret data, reports, and economic policy documents and to update their knowledge of the relationship between economics, business activity, and climate change.