Environmental Economics Assignment Help, Environmental Economics  Homework Help

About Environmental Economics

Environmental economics is the branch of economics, which deals with the economic impact of environmental policies. It studies the interrelationships between environment and economic development. The different methods through which environment is not impaired and economic development is not obstructed is dealt in this subject. The economic growth of nations needs to be promoted so that environment gets only least damage, which is the main teaching of environmental economics. The environmental issues associated with production and consumption of goods and services were understated by the classical and neoclassical economists. However, the economists who came later on recognized the importance of environmental impacts of economic policies .They recognized that these issues are not just social issues.


The basic terms used in environmental economics are external costs, market failures and scarcity. These terms are used in all the models here. Material Balance Models developed by Alen Kneese and R.V .Ayres, based on the first and second laws of thermodynamics explain the links between economy and the environment. Here, total economic process is considered as a physically balanced flow between inputs and outputs. Before the 1980s there was only very little attention to environmental economics and the theory developed was resource economics. While resource economics was only concerned the use of natural and mineral resources of renewable and non-renewable types, it did not deal with the pollution aspect of the resources. The environmental effects of production and consumption are not dealt in the resource economics while they are studied in the environmental economics. Environmental economics suggests that a certain amount of pollution can be afforded. Thus, a balance between pollution and production based on the market mechanism principles is also one main concern of environmental economics. Under the environmental economics, there are ethical questions of environment that deals with the instincts of environmental conservation and environmental protection.


There are different methods through which environmental economics can help in minimizing environment damage. These include the following. Environmental cost assignment to resources under use, avoiding resource wastage through price as a tool, environment resource allocation based on real costs and true benefits as well as resource conservation through environmental management. Separate environmental policies are assumed in environment economics to deal with many environmental issues. Environmental economics deals with balancing economic policy and environmental impact considering all costs and benefits associated with these. Pollution and depletion of natural resources are the two themes in environmental economics, which the classical economics fails to consider.


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