Sustainability Economics

6 ECTS credits
168 h study time

Offer 1 with catalog number 1023757BNR for all students in the 2nd semester at a (B) Bachelor - advanced level.

Semester

2nd semester

Enrollment based on exam contract

Impossible

Grading method

Grading (scale from 0 to 20)

Can retake in second session

Yes

Enrollment Requirements

Students must have taken ‘Intermediate Micro-economics' or 'Micro-economie' and 'Intermediate Macro-economics' or 'Macro-economie', before they can enroll in ‘Sustainability Economics'.

Taught in

English

Faculty

Faculty of Social Sciences & SolvayBusinessSchool

Department

Business Technology and Operations

Educational team

Cathy Macharis (course titular)
Ganiyat Temidayo Saliu

Activities and contact hours

24 contact hours Lecture
24 contact hours Seminar, Exercises or Practicals
120 contact hours Independent or External Form of Study

Course Content

Everything revolves around the interaction between the economic system and the socio-ecological system. First, the current theories and the new (economic) thinking frameworks are discussed. Subsequently, one can go deeper into various topics that lie at the interface of sustainability and economics.

The course contains the following aspects:

The place and significance of environmental issues in economic theories
The effects of economic activity on ecosystems and their theoretical framework
The constraints that developing ecosystems place on economic growth
The different ways to conceptualize and measure sustainability at the global and national level, as well as at the corporate level
Why and how is the environment valued, in money or otherwise?
Environmental policy and its effects on companies
Implementing sustainability at the company level
Environmental, Social and Governance (ESG)

The course is structured to explore the place of sustainability in economics and our society, ranging across the macro- and micro-level and ending with individual behaviour. At the end of the course, insights into a system change for our economy and society will be gained by the students.

Course material

Digital course material (Required) : Slides, Lectures and Papers

Additional info

Sustainable development was defined in the Brundtland report as: "Development that meets the needs of the present generation without compromising the needs of future generations".

Economics is about choices and needs and sustainability touches on that at its core. Meanwhile, there are different interpretations and frameworks of the concept of sustainability and how the economic, social and ecological can be brought together. There clearly is tension between the evolution of the economic system and ecological boundaries, and a transition to a different way of thinking and living is imperative. Toegepaste Economische Wetenschappen students need to understand these frameworks and the social challenges and receive guidelines on how to deal with them. What opportunities are there for companies in this transition and how can they deal with the various challenges imposed on companies through environmental and other regulations. Every company has to deal with sustainability issues and we have to prepare our students for this and also give them an extra advantage by taking this much needed knowledge to companies.

We interpret Sustainability Econonics as 'the study of the economy that accounts for the limited resources available with a viewpoint on current and future generations'.

Learning Outcomes

Algemene Competenties

This course has been centered around the active participation of and cooperation between students with the aim of developing their skills and abilities to deal with the challenges of climate change in the economies of the future. The competences that will be developed and enhanced in this course include the following:

Knowledge of the (inter)national sustainability frameworks: Gaining insight into the complexity of sustainability issues and framing htese within globally recognised sustainability frameworks (e.g. SDGs).
Pluralistic views of the economy: Developing the understanding of future managers in the multidirectional and complex relationships between economic systems and socio-ecological systems.
Providing students with facts, concepts, theories and analytical tools to help analyze these relationships.
Long-term and global thinking: Improving awareness and understanding of what these relationships mean in terms of business management in the 21st century. Attention is paid to both local and global developments.
Sustainable leadership: Making sustainable, innovative and resilient choices based on knowledge of and insight into economic processes.
Self-awareness: Striving for ethical, deontological and socially responsible thinking and entrepreneurship while reflecting on one's own actions.
System thinking: Gaining knowledge about the effects of economic activities on the environment, the constraints ecosystems place on these activities, and the ways in which economic science has conceptualized this two-way relationship.
Inclusive entreprepeurship: Students will be enabled to be critically aware of the effects companies have on their environment and to develop well-informed and responsible management strategies.

Grading

The final grade is composed based on the following categories:
Written Exam determines 100% of the final mark.

Within the Written Exam category, the following assignments need to be completed:

Written Exam with a relative weight of 100 which comprises 100% of the final mark.

Additional info regarding evaluation

Not applicable.

Allowed unsatisfactory mark

The supplementary Teaching and Examination Regulations of your faculty stipulate whether an allowed unsatisfactory mark for this programme unit is permitted.

Academic context