Environmental economics
Environmental economics (pronunciation: /ɛnˌvaɪrəˈmɛntəl iːkəˈnɒmɪks/) is a subfield of economics that focuses on environmental issues.
Etymology
The term "environmental economics" is derived from the words "environment" and "economics". The former is from the French environner meaning "to surround", and the latter is from the Greek oikonomia meaning "household management".
Definition
Environmental economics is a branch of economics that studies the financial impact of environmental policies. It deals with the theory and practice of how economic decisions can lead to environmental outcomes. Environmental economists perform studies to determine the theoretical or empirical effects of environmental policies on the economy. This includes how to regulate and prevent pollution, manage natural resources, and evaluate the costs and benefits of alternative environmental policies.
Related Terms
- Economics: The social science that studies the production, distribution, and consumption of goods and services.
- Natural resources: Materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain.
- Pollution: The introduction of contaminants into the natural environment that cause adverse change.
- Sustainability: The ability to be maintained at a certain rate or level.
See Also
References
- Tietenberg, T. (2006). Environmental and Natural Resource Economics. Pearson/Addison Wesley.
- Hanley, N., Shogren, J.F., White, B. (2007). Environmental Economics in Theory and Practice. Palgrave Macmillan.
External links
- Medical encyclopedia article on Environmental economics
- Wikipedia's article - Environmental economics
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