Introduction Of Environmental Economics

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Introduction Of



Environmental Economics




Environmental economics is an area of economics that studies the financial 


impact of environmental policies. Environmental economists perform studies to determine the theoretical or empirical effects of environmental policies on the economy. Otherwise Environmental economics is a sub-field of economics concerned with environmental issues. . Particular issues include the costs and benefits of alternative environmental policies to deal with air pollution, water quality, toxic substances, solid waste, and global warming.





The word environment has been derived from the French word ‘Environer’ which means to surround. Environment includes water, air and land, and their inter-relationships with human beings, other living creatures, plants and micro-organisms. Environment provides basic services essential to humanity such as supporting life, supplying materials, energy and absorbing waste products.


The services of environment are used by production and household sector in 


an economy. These include minerals such as coal, petroleum and a wide 


assortment of ores that can be processed into metals/metal alloys.



Other resources include plant, soil and water components used directly in production processes. Life supporting services are also provided by environment.





Environmental economics will help you understand some important and controversial issues – such as climate change policy, nuclear power, recycling policy, and traffic congestion charging etc. This is an exciting field of economics to study, and very much at the heart of many public debates and controversies.



In very broad terms, environmental economics looks at how economic activity and policy affect the environment in which we live. Some production generates pollution – for example, power station emissions can cause acid rain and also contribute to global warming. Household consumption decisions too affect the environment – for example, more consumption can mean more waste sent to polluting incinerators or garbage dumps.




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