This course provides a comprehensive understanding of the principles and practices of creating an inclusive green economy (IGE). Students can gain insight into the economic principles of green economies, which strive for a balance of economic growth, environmental sustainability, and social equity, ultimately leading to long-term sustainable economic growth. The course explores ideas that examine the interconnected relationship between people and the environment in economic processes.
In the context of the SMU-XO course, students will be afforded the opportunity to engage in hands-on projects facilitated by our project partners. These projects are centered on sustainable development and the green economy, necessitating students to rigorously analyze, deliberate, and contribute to the formulation of sustainable economic policies and strategies.
This course aims to help students:
- Justify and elucidate the core concepts behind establishing an inclusive green economy in contrast to conventional business practices.
- Recognize the essential conditions for transitioning national economies to greener models and outline the primary opportunities and challenges in crucial sectors.
- Elaborate on the significance, value, and structure of Green Economy indicator frameworks and their correlation with the Sustainable Development Goals (SDGs). Additionally, analyze the process of prioritizing and selecting indicators and their integration into a national Green Economy monitoring framework.
- Justify the need for greater utilization of green fiscal policy and outline the various fiscal instruments that can be used to promote positive economic, social, and environmental outcomes. Emphasize the main opportunities and challenges in the energy, transport, and waste management sectors.
- Comprehend the potential impact and fundamental principles of sustainable finance, and underscore the relevance of sustainability considerations for key actors in the financial system. Describe different sustainable finance products, such as bonds and loans, that could offer the necessary capital to support the achievement of the Sustainable Development Goals.
- Comprehend the evolution of legal and governance frameworks supporting the trade and green economy interface. Identify perceived challenges and potential opportunities related to trade in the transition to a green economy and highlight sectoral case studies of green trade in action.
