Wirtschaftswissenschaftliche Fakultät


Course Details

Prof. Michaelis

Seminar in Environmental and Resource Economics

Lecturer: Dr. Thomas Ziesemer
Type: Seminar
Exam: Seminar paper, presentation
Term: Summer
Level: Bachelor
Limitation: An application to attend is necessary.

The Seminar in Environmental and Resource Economics is open for Incomings who want to deepen their understanding of current topics in both environmental and resource economics. The topics in environmental economics focus on the economics of climate change. Based on the scientific background of the Fourth Assessment Report by the Intergovernmental Panel on Climate Change (IPCC), global warming and climate change pose unprecedented challenges for environmental economics. Numerous fields of uncertainty, the long term accumulation of greenhouse gases, the possibility of irreversible events and the risk of catastrophes complicate the economic analysis immensely. Especially the long-run, time-delayed and uncertain harmful effects of accumulated emissions make cost-benefit analyses difficult and entail ongoing controversies about the timing and choice of adequate strategies to face climate change. The chapter about resource economics is split in topics dealing with exhaustible and renewable resources. Analyzing the economics of exhaustible resources usually involves the investigation and measurement of resource scarcity. The basic model to do so is the Hotelling-rule which, however, has not received much empirical support. Several advancements of the rule nevertheless allowed including substantial drivers of resource scarcity such as stock dependent extraction costs and technological change. Renewable resources on the other hand are able to reproduce themselves. But not only can renewable resources become scarce, they can be driven to extinction which respective economic models also predict. Preserving populations then necessitates the right choices of management regimes and adequate regulation.

For further information or application procedure please check the module manual and the website of the chair.