23570 Economics of the Environment
Economics of the Environment provides students with an understanding of the contribution economic analysis can make to the solution of environmental problems. After setting the current interest in the environment into its post-industrial-revolution context, the subject examines externalities, ill-defined property rights and the management of natural resources. This leads to questions of valuing the environment (either economically or according to some other criterion), and how to satisfy the legitimate claims of future generations through so-called sustainable development. The subject focuses on the policy question of pollution control and natural resource depletion, applying various policy tools to contemporary examples.
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