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ModuleCatalogEnvironment,ResourcesandEnergy Coursesthatgivecreditforthespecialization“Environment,Resourcesand Energy”intheMScinEconomics Content Prof. Manuel Frondel, Energy Economics and Applied Econometrics Empirical Environmental, Resource and Energy Economics (5 ECTS) Market- and Non-Market Valuation of Environmental Goods (5 ECTS) Prof. Helmut Karl / Prof. Rüdiger Wink, Economic Policy Environmental and Natural Resource Economics 2 (10 ECTS, lecture and seminar) Energy Economics and Politics (10 ECTS, lecture and seminar) Spatial Econometrics (10 ECTS, lecture and seminar) Prof. Wilhelm Löwenstein, Development Economics Cost-Benefit Analysis (5 ECTS) Prof. Johann-Christian Pielow, Economic Law Legal Aspects of Natural Resources, Environment and Infrastructure Policies (5 ECTS) Prof. Jörg Schimmelpfennig, Microeconomics Urban Economics (5 ECTS) Prof. Manuel Frondel, Energy Economics and Applied Econometrics Empirical Environmental, Resource and Energy Economics (5 ECTS) The seminar will deal with major issues in environmental and resource economics. By enrolling in this seminar, students can broaden their theoretical and empirical knowledge in this field. The seminar intends to focus on important aspects of environmental and resource economics, in particular energy economics, such as the modeling of production technologies and substitution relationships between production factors like energy and capital. The focus of this seminar is on the application and scrutiny of econometric models that build the counterpart to theoretical economic models. Market- and Non-Market Valuation of Environmental Goods (5 ECTS) The valuation of environmental goods and amenities is often complicated by the lack of market prices. This seminar will deal with distinct empirical methods to estimate the value of environmental goods and amenities. Methods to be covered include both market and non-market valuation methods, such as hedonic pricing, contingent valuation and revealed preference methods to elicit willingness-to-pay. Prof. Helmut Karl / Prof. Rüdiger Wink, Economic Policy Environmental and Natural Resource Economics 2 (10 ECTS, lecture and seminar) Environmental and Natural Resource Economics deals with the impact of the economy on the natural environment. In particular we provide an analysis of the impact of pollution like greenhouse gas emissions (e.g. climate change) and we evaluate the use of depletable and renewable resources. For both cases we examine market failure and we discuss policy interventions which try to overcome the inefficient and non-sustainable use of environmental and natural resources. Concerning environmental economics, the course deals with risks and uncertainties in environmental policy and the analysis of regional and locational competition in the field of environmental quality standards. The course provides an analysis of the Hotelling’s rule regarding depletable resources and renewable resources and gives an introduction into methods of dynamic maximization and optimal control theory. A seminar studies in detail key aspects of the lecture. The aim of the seminar is to develop optimal emission models for various environmental media (e.g., air, water, soil). The seminar corresponds with the lecture. It deals with the economics of climate change, the optimal use of fishery resources, and the economics of biodiversity and conservation. Energy Economics and Politics (10 ECTS, lecture and seminar) This course provides an advanced study of energy economics in theory and policy. The course starts with an introduction concerning the scientific and technical basics of energy use. The main part of the course is focused on the optimal use of energy, the analysis of the energy demand and supply on power markets. In particular the markets for primary energy as well as electricity markets are in the focus of the analysis. In this context the course deals with the regulation of the energy sector and climate change policy. A seminar deals in detail with key aspects of the lecture concerning power markets, market failure and regulation as well as power plant project economics. Spatial Econometrics (10 ECTS, lecture and seminar) The aim of this course is to develop and apply quantitative tools in order to analyze economic and social phenomena with an explicit reference to spatial processes. Such research questions typically arise in the context of regional and urban science but may also be relevant in business-related research. The course starts from the theoretical basics of regression analysis by ordinary least squares and subsequently augments the quantitative portfolio with further methods including panel data econometrics as well as spatial econometric tools. Furthermore, different explorative methods for empirical cluster analysis and descriptive spatial statistics are presented. The course is application- oriented and is accompanied by a computer tutorial. Here an introduction to statistical software (Stata, R) is given and regional datasets are analyzed. Empirical problem sets at hand include regional growth and convergence, spatial interaction in terms of trade and migration as well as spatial hedonic house price modeling and clustering of economic activity. Prof. Wilhelm Löwenstein, Development Economics Cost-Benefit Analysis (5 ECTS) A change in the provision with public goods affects the well-being of people. This holds for changes in environmental goods as well as for changes in public services as e.g. in the provision with health or educational services or with infrastructure. This lecture is answering two basic questions: 1. Under which circumstances can the resulting variations in well-being be measured in monetary terms? Answers to this question are derived from microeconomic theory. 2. Which theory-based empirical approaches are available to capture the damages that people feel being affected by an oil spill, the advantages of nature conservation, the effects of the construction of a dam, or the impact of being protected from natural hazard? These and related questions will be discussed within the lecture based on real-world case studies. Prerequisites: Good knowledge of microeconomics and an interest in combining microeconomic theory with empirical research. Prof. Johann-Christian Pielow, Economic Law Legal Aspects of Natural Resources, Environment and Infrastructure Policies (5 ECTS) The seminar aims at illuminating the linkages between political or economic up-to-date-questions concerning the exploitation and protection of natural resources, climate protection as well as so called public (in particular: energy) infrastructures and the framework of the European and national law. Recent decisions of the higher courts like the European Court of Justice or the (German) Federal Constitutional Court (Bundesverfassungsgericht) will serve as points of reference in order to broaden students’ knowledge on and allow them to analyze the interaction of law & economics. Prerequisites: Basic knowledge of European and constitutional law & policy. Prof. Jörg Schimmelpfennig, Microeconomics Urban Economics (5 ECTS) Topics discussed include real estate from both a macro- as well as microeconomic perspective, urban land markets and Ricardian rents, urban housing markets, firm site selection, retail location, regional macroeconomics, impact of local government, the history of land-use patterns and lock-in equilibria and urban transportation planning and externalities.