EDS351 Ecological Economics and Degrowth

Ecological economics and degrowth are two related fields concerned with pursuing well-being and social justice within planetary boundaries. Ecological economics is an interdisciplinary field that merges principles from economics, ecology and social sciences to examine the relationship between the economy and the natural environment. It seeks to address the limitations of traditional economics by recognizing that the economy is a subsystem of the larger ecological system, and that there are limits to planet’s resources and capacities to assimilate pollution and waste. Key ideas in ecological economics include the recognition of limits to growth, the understanding that long-term economic well-being depends on the preservation and sustainable use of ecological life support systems and natural resources, recognizing that ecosystems provide critical services (e.g., clean air, water, climate regulation, pollination, soil fertility) that support both the environment and the economy, and the accounting of the social and environmental costs of growth (e.g., pollution, resource depletion, biodiversity loss) in economic decision-making.

Degrowth is a socio-economic and political movement that challenges the traditional notion of economic growth as the primary goal of society. It advocates an intentional and selective downsizing of economic activity in certain sectors to promote an ecologically sustainable and equitable society. Like ecological economics, degrowth emphasizes the need to live within the ecological limits of the Earth and argues that continuous economic growth is incompatible with the planet's ecology and finite resources. Ecological economics and degrowth emphasize social and environmental justice, acknowledging that growth is often accompanied by increasing inequalities. Both approaches advocate a fair redistribution of resources and wealth within and between countries, and across generations, while also taking into consideration the rights and well-being of ecosystems and other species.

The aim of this course is to provide students with concepts, frameworks, methods, and tools in ecological economics and degrowth, and with capacity to use them in sustainability research and policy formulations. Emphasis is made on the understanding of the biophysical underpinnings of the economy, environmental accounting and valuation, links between ecosystems and human well-being, sustainable governance of ecological life support systems, and methods and tools to analyse and promote justice and good lives within planetary boundaries.

After following the course, students should have developed a good understanding of the philosophical foundations and the core concepts, methods, and frameworks in ecological economics and degrowth. These will cover notions on environmental limits, resource scarcity and abundance, basic needs and wants, relations between growth and different sustainability indicators, the role of technology, theories and trends on (de)coupling, (de)decarbonization and (de)materialization, methods and tools in social, ecological, and economic valuation, dynamics in resource and waste management, regulatory tools and economic instruments for environmental protection, and governance structures facilitating a development towards a sustainable economy.