knowledge skills - capacity to understand and analyze problems in environmental economics - capacity to evaluate the environmental consequences of economic activity - capacity to interpret environmental taxes and market-based instruments of environmental regulation - capacity to apply theoretical models from environmental and natural resource economics to real-world problems technical skills - effective problem-solving - solve problems using spreadsheet or econometric software - ability to work in groups - critical reasoning - written and oral communication

K1: Understand democratic principles and values, as well as the Sustainable Development Goals, with special emphasis on respect for human rights and fundamental freedoms, gender equality, non-discrimination, universal accessibility principles, and the fight against climate change. K4: To understand the functioning of the economy as the efficient allocation of scarce resources, including the importance of equity. K5: Know quantitative and qualitative research techniques, and be able to discern which are the most appropriate to apply in the field of economics. K6: Comprehend the economic and social impact of various public policies on different agents and in diverse socioeconomic contexts. K7: Understand the economic variables that regulate the economy and govern the behaviour of agents. K8: Understanding economic institutions K9: Identify the economic, political, and social framework for the activities of various economic, political, or social agents. K10: Understand the fundamental elements of the economic environment from the perspective of different theories and various economic agents. S1: To plan and organize team work making the right decisions based on available information and gathering data in digital environments. S2: Exploit information by interpreting relevant data, avoiding plagiarism, and adhering to academic and professional conventions within the field of study, with the ability to evaluate the reliability and quality of the information. S3: Apply the knowledge acquired in the degree program to rigorously, accurately, and scientifically identify socioeconomic processes and propose potential solutions. S4: Manage and develop autonomous learning within the field of Economics. S5: Formulate, debate, and defend critical and ethical arguments related to Economics. S6: Identify, collect, interpret and manage relevant information on economic issues, using the appropriate concepts and methodologies of analysis. S7: Design economic and social programs to address the needs of economic agents. S8: Formally representing economic decision-making processes S9: Derive relevant economic information from the data, and be able to process it to answer the questions of interest S10: Prepare advisory reports for economic agents relevant to decision-making. S11: Describe and analyze economic problems within a specific social context. S12: Model and quantitatively interpret specific economic issues C1: Develop interpersonal skills such as initiative, responsibility, conflict resolution, negotiation, etc., which are required in the professional domain. C2: Communicate effectively to different audiences knowledge, methodologies, ideas and solutions in the field of study. C3: Independently develop and defend a problem within the disciplinary scope of the degree, proposing well-founded solutions through the application of the knowledge, skills, tools, and strategies acquired or developed throughout the degree program. C4: Solve economic models of interest from both theoretical and numerical perspectives. C5: Use appropriate statistical and econometric tools to address and solve economic problems. C6: Integrate democratic principles and values, as well as the Sustainable Development Goals, into the professional sphere.

Lesson 1 - Introduction a) Economics of Natural Resources: Central Questions b) The functions of the environment c) Market failures d) Externalities e) Public and communal goods Lesson 2 The Management of Natural Resources The economic management of renewable and non-renewable resources 2.1 Non-renewable resources (RNR) a) The concept of RNRs b) The Hotelling Rule c) Comparative statics d) The monopoly e) Recycling 2.2 Renewable resources (RR) f) The concept of RR g) Growth and extraction of RR h) EU fisheries policy i) Economic aspects of forest management j) The extinction of species Lesson 3 Instruments to correct market failures a) Optimal level of contamination b) Command and control solutions c) Market instruments Lesson 4 Valuation of Natural Resources a) Revealed preferences b) Declared preferences c) Cost-Benefit Analysis

Students will acquire the knowledge and technical skills set out above by following the lectures ("magistrales"), by solving problems that will be turned in to the professor and corrected jointly in class, and by attending review sessions ("reducidas") in which problems are solved at the black board. Likewise, part of the skills will be acquired by the students through individual research. The educational activities are aimed at enabling the students to use the tools of economic analysis acquired in previous classes and to apply them to the regulation of environmental problems. The teaching method is interactive and based on the use of computer software (spreadsheet and/or econometric applications) for the analysis of case studies related to environmental protection and to natural resources management.