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

Lecture 1: Introduction to the course

Lecture 2: Understanding economic interactions

• Sectors of the economy
• Interactions of the sectors
• GDP and its components
• Climate-economy interactions

Lecture 3: environment-economy interlinkages

• Resource use extraction
• Local versus global impacts
• Material flows
• Planetary boundaries
• Input-output analysis

Lecture 4: Ecology-economy interactions I

Lecture 5: Ecology-economy interactions II

Lecture 6: Climate risks I: Supply chains

• Domestic risks
  • Physical risks
  • Transition risks
  • Financial risks
  • Regulations
• External risks
  • Impact of climate change and climate policies abroad
  • Impact of domestic regulations abroad (e.g. CBAM in the EU, and IRA in the USA)

• Supply-chains and disruptions
• Impact on domestic economy
• Role of trade policies and competitiveness

Lecture 7: Climate risks II: The financial system

• Domestic risks
  • Physical risks
  • Transition risks
  • Financial risks
  • Regulations
• Understanding the global financial system and financial intruments
• Revisiting systemic risks
• Debt, loans, and FDI

Lecture 8: Final in-class assignment

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.

The classes are in person and 80% attendance is compulsory. In case of absence, the lecturer has to be informed in advance.

Standard lectures on selected topics.

In class discussions.

Topic presentations.

25% class participation (active involvement in discussions).

35% in-class presentation

40% final group assignment (to be completed in the last class).

If you have a valid registration for the lecture, but will not participate, please deregister during the registration period of LPIS. Your place will be available for other students.

During the registration period, free places are filled according to the “first-come, first-served” principle. After the end of the registration period, the number of places is increased and students on the waiting list will be registered for the lecture. Students in the BBE-program will be added first, should places remain, they will be filled by BaWiSo-students based on their progress in their studies.

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Basic knowledge of economics, business, and management theories with an general interest in climate-related topics especially the economy-ecology interaction.

Appointment by email:

 snaqvi@wu.ac.at or asjadnaqvi@gmail.com 

linus.eckert@wu.ac.at