The Kiel University (CAU) is a full university owned by the German State of Schleswig-Holstein, Germany. At its eight faculties, it currently teaches about 34.000 students, with more than 1.000 scientific staff members involved both in teaching and research. In research, CAU is well-profiled; e.g. it currently holds 4 projects funded by the German “Excellence Initiative” and has participated in over 40 projects funded by EU’s 6th Framework Program and is currently involved in more than 50 projects and successful proposals under the EU’s 7th Framework Program and Horizon 2020. The Department of Economics has a long tradition in the field of environmental and resource economics coordinating several major research projects.