SUSTAINABILITY ECONOMICS – A SUMMARY OF A SHORT COURSE by Peter Bartelmus 1. INTRODUCTION AND OVERVIEW Course objectives What on earth is wrong? © P. Bartelmus, Bergische Universität Wuppertal, Germany. The course contains copyrighted material, which is intended for personal use or teaching purposes only. 2. SCHOOLS OF ECO–NOMIC THOUGHT Environment-economy Market and policy failure History: from frontier economics to deep ecology Ecological vs. environmental economics interaction © Arik Bartelmus 3. SUSTAINABLE DEVELOPMENT: FIG LEAVE OR CORNUCOPIA SUSTAINABLE DEVELOPMENT What is development? What is sustainable development? Operationalizing sustainable development SUSTAINABLE ECONOMIC GROWTH Economic growth with some environmental protection 4. THE PHYSICAL BASE OF THE ECONOMY Aggregation: from statistics via indicators to indices Case study: climate change Material flow accounts Ecological sustainability 5. MONETARY VALUATION: COST-BENEFIT ANALYSIS AND GREENING THE NATIONAL ACCOUNTS Cost-benefit analysis: damage values The System for integrated Environmental and Economic Accounting: prices and costs Indicators of environmental and economic sustainability: EDP, ECF 7. PREDICTION WILL OUR ECONOMIES BE SUSTAINABLE? What are the limits to growth? Environmental impact EKC hypothesis: will prosperity by good for the environment? GDP p.c.