The course aims to provide students with the tools to understand the foundations of Bioeconomic Theory as a conceptual framework for defining methods of measuring the growth of ecosystems, according to principles of equity and sustainability, including stimulating a critical analysis of the assumptions underlying such methods. The course aims to address questions about the measurement of growth through rigorous analyses consistent with the ideals of a just economy compatible with the fundamental laws of nature, ideals that today are re-emerging with renewed impetus from civil society; therefore, the student will learn the fundamental tools to work as an economic consultant and planner in local and national contexts, in public corporations or private enterprises. Understanding the importance of policy direction and the resulting central role of public actors to the smooth functioning of economies provides a useful link to other economic, legal and statistical disciplines in the course of study. In particular, the historical analysis of the evolution of economic systems and the study of the principles of thermodynamics foster an analytical and synthetic approach to economic facts and the concepts of value, growth and development, seeking to bring economic theory back at least in part to the natural sciences.
The course content is therefore an important contribution to the
achieving the educational objectives of the entire course of study on the economic processes that characterize the dynamics of development, with particular reference to the role of public and private organizations and institutions in the area. Particular emphasis is placed on knowledge and understanding of endogenous growth and the role of local economic systems in the dynamics of sustainable and equitable innovation. The student must also gain knowledge and understanding of the role of government and public finance as tools for achieving desired goals.
EXPECTED LEARNING OUTCOMES
Knowledge
At the end of the course, the student should know and understand the bioeconmic theory developed by Gerogescu Roegen and subsequent developments in recent decades, inspired mainly by sustainability and equity. The student should also know the aspects related to the analysis of economic growth knowing how to integrate them with conceptual and mathematical analysis tools related to the principles of thermodynamics and evolutionary biology.
Understanding the main issues related to the analysis of economic growth and its possible implications for society and the environment will be an integral part of the student's educational process.
Ability to apply knowledge
The knowledge acquired can be applied in the investment sector, in public and private companies, business consortia, business and social associations, research organizations, government institutions (local, national and international), and development agencies to:
- process data on environmental and social impacts resulting from local and global economic growth;
- perform cost-benefit analysis informed by broader qualitative and quantitative assessment tools;
Autonomy of judgment.
Upon completion of the course, the student will be expected to:
- know how to assess the appropriateness of public interventions aimed at providing support for sustainable growth dynamics
- know how to decide which public incentives can define balanced and sustainable development trajectories
- develop strategies for improving the use of natural and social resources
Communication skills.
At the end of the course the student will need to:
- know how to inform stakeholders and collaborators about the implications of his or her analyses on the expected outcomes of the activities in which he or she participates
- know how to collaborate in order to complete projects and activities while respecting the diversity of the working group
Ability to learn.
Upon completion of the course the student should:
- be able to critically understand the general principles of economic theories and policies, knowing how to evaluate their limitations, in light of the new perspectives introduced by Bioeconomic Theory, with respect to issues of sustainability in ecosystems.