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Intructions_for_presentation.pdf | Instructions for the presentations | Mgr. Milan Ščasný, Ph.D. |
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Syllabus_EconomicsGreenDeal.docx | Mgr. Milan Ščasný, Ph.D. | |
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02_AQ_Impacts.pdf | Mgr. Milan Ščasný, Ph.D. | |
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03_EGD.pdf | Mgr. Milan Ščasný, Ph.D. | |
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The European Green Deal is the key policy to transform the EU into a carbon-neutral, resource-efficient and competitive economy. This transition brings many challenges to the economy and society that need to be changed concerning technology used, behaviour and lifestyle. This course will address these challenges through a series of lectures that will present approaches to rigorously assessing the impacts of the transition on the economy, the environment, and people. It will rely on environmental economics complemented by models and theories from other fields in economics (energy-, transport-, behaviour-) and disciplines (energy system modelling, environmental sciences). The course will discuss several topics: regulation (externality, policy instruments) & environmental problems (pollution, climate change); energy transition and the decarbonisation pathway, with a particular focus on the energy system and transport modelling; Regulatory Impact Assessment | Benefit-Cost analysis, and the role of consumer behaviour and choices in the energy transition. Last update: Ščasný Milan, Mgr., Ph.D. (10.10.2024)
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Attendance of the lectures Active participation at students' presentations (critical discussion of previous lecture and presenting a paper related to the lecture) Writing test with a satisfactory grade Last update: Ščasný Milan, Mgr., Ph.D. (06.02.2024)
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Literature to be added Last update: Ščasný Milan, Mgr., Ph.D. (10.10.2024)
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Presentations with slides presented Last update: Ščasný Milan, Mgr., Ph.D. (10.10.2024)
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Course completion requirements ● Active participation at the lectures ● Presenting and discussing a paper ● Writing test with a satisfactory grade
Requirements to the exam (1) Final test [70 points] (2) Paper presentation (in a group of four students) and discussion of other students’ papers (3–4 students’ groups) [30 points] (3) Active participation [10 points] Maximum points: 100+
Grading: 91 and more A 81 to 90 B 71 to 80 C 61 to 70 D 51 to 60 E 50 and less Failed Last update: Ščasný Milan, Mgr., Ph.D. (10.10.2024)
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The course consists of the following lectures.
The Problem & Regulation [Milan/Lukas] 30 SEPT ● Problem of environmental externalities (environmental services; environmental externality: quantification, optimal level; internalisation of the externality: Coasian vs Pigouvian approach, optimal Pigouvian tax) ● Policy instruments (command-and-control vs market based instruments: static & dynamic efficiency, effectiveness, acceptability; price-based vs. quantity-based market instruments: taxes, transferable rights)
Climate Change & Social Cost of Carbon [Milan] 7 OCT ● What climate change is about; Why does it matter? ● Quantifying the impacts of climate change ● Integrated Assessment Modelling: What IAM is? Social Cost of Carbon; critics of the IAMs; intra- (equity) and inter-generation (discounting) equity; social discount rate
European Green Deal [Vojta] 14 OCT ● Key component of EGD ● Fit-for-55: EU ETS, ETS2, Effort Sharing, ETD, EED, REDD ● Revenue recycling and EU funds to support green projects and mitigate social impacts
Land Use, Ecosystem, Biodiversity, Agriculture [Matej] 21 OCT This section will examine the economic challenges and trade-offs in optimizing limited land resources for food production, forestry, and biodiversity conservation. Key topics include:
Energy markets & energy system modelling [Lukas] 4+11 NOV · Energy balance; Oil & Gas markets · Power: dispatchable and non-dispatchable generation, transmission & distribution, storage; merit order effect; market structure, bidding zones; tariff structure: energy and regulatory parts, industry vs. small consumers; load curve vs duck curve; flexibility (supply and demand), smart grids
Modelling tools: Technology, Behaviour, Feedbacks & Loops [Milan] 18-25 NOV ● Models to assess ex ante economic, energy, environment, and distributional impacts? ● Pros and cons of modelling tools ● Energy savings & energy efficiency paradox, rebound effect; nudging & behav models ● Consumers choice on low-carbon technologies ● Consumer demand and energy pricing
Inequality & Justice [Milan/Matej/Inaki] 2 DEC ● Distributional social impacts (micro-simulations): how to measure the impacts; mitigation of the adverse social impacts; Social Climate Fund ● Inequality measurement: energy and transport poverty ● International perspective
Impact Assessment: IOA, CGE, E3ME [Iñaki, Vedunka] 9+16 DEC ● Input-output analysis (Type I, Type II, price vs. demand effects); Environmentally-extended IO modelling, footprints ● Economic models (neoclassic CGE models vs. post-keynesian models) o Neoclassical Computable General Equilibrium (CGE) models: widely used to simulate the economy by assuming perfect competition, rational behavior, and market-clearing conditions. They focus on the long-run equilibrium and are commonly applied in policy analysis for climate change and environmental regulations. o Post-Keynesian models: emphasize real-world complexities such as uncertainty, financial instability, and the role of effective demand. These models critique the assumptions of neoclassical economics, particularly regarding equilibrium and market efficiency, providing alternative insights into sustainable development and the green economy. Example is the E3ME model. ● Hybrid models (stock-flow accounting, technology adoption) o Hybrid models combine various frameworks to address limitations in traditional models. o Stock-flow accounting tracks the interactions between physical and financial stocks (like number of vehicles and capital) and their flows over time, offering a more integrated view of economic and environmental sustainability. o Meanwhile, models focusing on technology adoption examine how economies transition to cleaner, more efficient technologies, considering behavioral factors, market structures, and policy incentives. Together, these hybrid approaches are key to understanding long-term transitions to sustainable economies.
Last update: Ščasný Milan, Mgr., Ph.D. (10.10.2024)
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