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EC441 – Environmental Economics

Bachelor of Science in Economics

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Core Course

EC441 – Environmental Economics

Course Unit Code: EC441

Type Of Unit: Elective

Level of Course Unit: First Cycle

Year of Study: Third/Fourth year

Semester: On demand

Number of ECTS Credits: 7.5

Class Contact Hours: #

Mode of Delivery

Prerequisites

none

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Learning Outcomes

On completion of this course students are expected to:

CILO 1 Understand the rationale behind studying environmental economics and its interdisciplinary nature.
CILO 2 Assess the primary controversies within mainstream economics concerning environmental issues.
CILO 3 Familiarize with the methods and tools utilized to assess the value of environmental resources.
CILO 4 Demonstrate knowledge and understanding of economic arguments to discuss environmental policy proposals and solutions.
CILO 5 Understand how economic agents’ (individuals, firms, government) decisions and market forces can affect the environment.
CILO 6 Acquire an understanding of determining the optimal level of pollution and the optimal utilization of natural resources from an economic standpoint.
CILO 7 Understand how various policies, such as taxes, subsidies, and quotas, can be used to realize the optimal solution when markets fail.
CILO 8 Learn about policies related to exhaustion of non-renewable resources and overutilization of renewable resources, common pool problems and sustainability concepts

Key concepts in Environmental Economics: Welfare Economics and the Environment. CILO 1
The origins of the sustainability problem: ethics, economics and the environment. CILO 1
Environmental Pollution: Regulation and Pricing Policies. CILO 2,3
International environmental problems: game theory analysis, international environmental cooperation, and climate change. CILO 2
Behavioural Economics of Climate Change. CILO 3
Trade and the environment. CILO 4, 7
Project appraisal (e.g., cost-benefit analysis, irreversibility, risk and uncertainty, valuing the environment -i.e., contingent valuation). CILO 3, 4
Natural Resource Exploitation: renewable vs non-renewable resources (e.g., optimal use of natural resources, optimal resource extraction, and renewable resources policy). CILO 8
Environmental health and environmental justice. CILO 5
Environmental impact of energy (e.g., different sources of energy, the role of energy in climate change, energy demand modelling, energy efficiency-carbon intensity, crude oil market, natural gas market, transition to green economy, and the role of nuclear energy). CILO 8

Course Features

Lectures; in-class discussion and debates; in-class exercises; problem sets; team work; video case studies, team presentations, interactive online learning via Moodle (quizzes, assignments, forums)
Class participation (including written class quizzes) and problem sets: 20%
Midterm: 30%
Final Exam: 50%
English
Not applicable

Readings

Main Textbooks:
Tietenberg, Tom, and Lynne Lewis. Environmental and natural resource economics. Routledge, 2018.

Harris, Jonathan M., and Brian Roach. Environmental and natural resource economics: A contemporary approach. Routledge, 2017.

Optional textbook:
Barry Field and Martha k Field. Environmental Economics 8th edition, McGraw Hill, ISBN 9781260575491, 2020.

Vig, Norman J., and Michael E. Kraft, eds. Environmental Policy: New Directions for the Twenty-First Century 8th Edition. Sage, 2012.

Articles & Journals:
Weitzman, M. L. (2017). On a world climate assembly and the social cost of
carbon. Economica, 84(336), 559-586.

Fiorino, Daniel J. “Can we change everything? The politics and economics
of climate change.” (2016): 970-974.

Olmstead, Sheila, and Jiameng Zheng. “Water pollution control in
developing countries: Policy instruments and empirical evidence.” Review of
Environmental Economics and Policy 15.2 (2021): 261-280.

Call Center

CYPRUS

GREECE

INTERNATIONAL

Request Information Request Information ⟶

Informed Consent Form

Dear Participant,

You are invited to participate in a survey as part of the DiFiCy – Digital Transformation and FinTech: Shaping Cyprus’s Economy research project which is implemented by the University of Limassol, PwC Cyprus and Unity Growth Limited.

The project is co-funded by the European Union within the framework of the Cohesion Policy Programme “THALIA 2021-2027” through the Research and Innovation Foundation (RIF) in Cyprus [Pr. number: EXCELLENCE/0524/0568].

The study has been approved by the National Bioethics Committee of Cyprus (Approval no.: EEBK EΠ 2025.01.19 )

This project explores digital transformation and FinTech adoption in Cyprus, with a particular focus on SMEs and the broader business ecosystem. It uses a mixed-methods research design, combining survey data with interviews and case study evidence to generate evidence-based insights for policymakers and businesses.

Before deciding whether to participate, please read the following information carefully.

Purpose of Participation

The purpose of this research is to better understand the drivers, challenges, and impacts of digital transformation and FinTech adoption in Cyprus. The findings aim to support evidence-based policymaking, strengthen business practices, and contribute to innovation and economic development.

Your participation involves the following:

Completion of this survey, which takes approximately 15 minutes.

Invitation to take part in an optional interview.

Contribution to a case study or discussion session at a later stage.

Your participation is entirely voluntary, and you are free to decline or withdraw at any time without any consequences.

If you wish to withdraw from the study after submitting your responses, you may do so by contacting the Project Coordinator.

Data Confidentiality and Usage

All data collected will be handled in strict accordance with the General Data Protection Regulation (GDPR) and Cyprus Data Protection Law (125(I)/2018).

Your data will be treated confidentially, pseudonymised and anonymised, and no personally identifiable information will be disclosed. Data will be securely stored and accessed only by authorised members of the research team. In some cases, qualitative data may be processed using machine learning techniques, such as keyword identification or pattern detection, strictly to support analysis; however, all interpretation and conclusions will be made by the researchers.

Aggregated and anonymised findings derived from the data (e.g., statistical summaries, graphs, and thematic insights) may be used for dissemination activities, including scientific publications, policy reports, infographics, and training materials. These outputs will not contain any information that could directly or indirectly identify participants or their organisations.

Anonymised data may be shared publicly after a 24-month embargo period, while raw or sensitive data will not be publicly available. Access to raw or sensitive data will be granted only upon justified request and consortium approval.

Your participation in this study does not involve any risks.

On the contrary, your contribution may help improve digital and FinTech policies, support SME development and innovation strategies, and enhance the overall business environment in Cyprus.

Contact Information

If you have any questions, concerns, withdraw requests or complaints, please contact the Project Coordinator, Dr. Snezana Eminidou. Please include “DiFiCy Survey” in the subject line.

Email: snezana@uol.ac.cy

Phone number: +357 22462228

Partnership:

Thank you for your valuable contribution to this research.

The project is implemented under the programme of social cohesion “THALIA 2021-2027” co-funded by the European Union, through the Research and Innovation Foundation in Cyprus [Pr. no. EXCELLENCE/0524/0568]. The content reflects the views of the author(s) only. The European Commission and the Managing Authority of THALIA 2021–2027 cannot be held responsible for any use which may be made of the information contained therein.