The lectures will be discussion-based combined with readings and lecture notes. Class readings will be assigned and a small group of students is expected to present the reading:

Lecture 1: What is economics? and how does an economy function?

• Sectors of the economy and their interlinkages
• GDP and its components

Lecture 2: Understanding the channels of climate impacts: emissions, material flows, supply chains

• Emissions versus pollutants
• Local versus global impacts
• Material flows and supply chains

Lecture 3: Climate policies I (carbon leakages, carbon taxes)

• Climate action now or later?
• Understanding climate policies and their implications

Lecture 4: Climate policies II (border adjustment tariffs, stranded assets)

• Carbon leakages, cross-border emission flows

Lecture 5: Supply chains

• Understanding global interlinkages and their climate impacts

Lecture 6: Finance and green investment, systemic risks

• Finance and financial interactions, and systemic risk
• Financial regulations
• Enabling green investments

Lecture 7: Student presentations (to be decided during earlier classes)

After completing the course the students are aware of the environmental context of economic activities. They have a holistic perspective, seeing both the economy and society and human interactions embedded in biophysical systems. They understand the effects businesses have on these dimensions. Throughout the course, students learn to take into account the impact of their later actions on society and the natural environment, their social responsibility, and their contribution to long-term sustainable development goals. Students develop the ability to consider ethical, social and environmental issues implied in their decisions in both private and professional spheres. They acquire skills such as self-reflection, openness and sensitivity to diversity, and most importantly an understanding of causality. They learn to understand scientific evidence, conduct team projects effectively, to listen attentively and to present their ideas in convincing ways. Having completed the course, they are able to process information, to understand ideas and problems, to develop solutions and to communicate them to both expert and non-expert audiences. Extensive feedback from both the course instructors and peers helps students to understand their shortcomings and to improve.

During this course, the students will:

Gain a deeper understanding of the following concepts: causality, data and its limitations, basic economic concepts, decision-making while taking environment into account.

Be able to critically reflect on the concepts, and be able to communicate them both in the terms of discussions through in-class participations and in writing through a reflection paper.

Be able to use apply the knowledge gained during the course on a practical, “real-life” example.

Understand concepts of the dual environment-economy impacts, and ways to measure these interaction.

Related these to management practices and sustainability concepts.

All classes are compulsory. In case of absence the lecturer is to be informed in advance if possible. More detailed regulations on absenteeism will be explained in the first lecture.

Standard lectures on selected topics.

In class discussions.

Topic presentations.

20% class participation (active involvement in discussions).

20% paper discussion (one or two students present one of the reading papers).

30% presentation (take a topic and present it in the last class).

30% a reflection paper on the presentation topic.

Course enrollment is on the basis of "first-come, first-served” principle. If you have registered but cannot participate in the course, please de-register via LPIS during the registration period so that your course is available to students on the waiting list. If there is a waiting list for enrollment in the course, students at the waiting list will be notified after the end of the enrollment period, and will be allocated to available places. Students will be ranked by their study progress not by their rank on the waiting list. This procedure, however, is not to be understood as a place guarantee.

Basic knowledge of economics, business, and management and a general interest in climate-related topics.

Appointment by email: snaqvi@wu.ac.at