Ecological Economics is concerned with integrating the study and management of "nature's household" (ecology) and "humankind's household" (economics). This integration is central to many of humanity’s current problems and to governing economic activity in a way that promotes human well-being, sustainability, and justice.
The aim of the module “Ecological Economics” is to introduce students to core concepts and policy implications from the field of Ecological Economics. The module is structured into three parts. First, students will be introduced to the topic by two lectures on the specific vision and paradigms of Ecological Economics as distinguished from environmental & resource economics and on the history of Ecological Economics. Second, the students work out and discuss the core analytical concepts (ecological footprint, ecosystem services, social-ecological resilience, substitutability of natural capital, time) as well as the core normative concepts (justice, human behaviour) in Ecological Economics. Third, the students will discuss and reflect certain policy implications following from Ecological Economics – specifically the economics of degrowth and the measurement of welfare. The basis for discussion will be classical and current scientific papers.