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Environmental Economics Bachelor - Essay Example

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Environmental Economics Bachelor

Environment problems are very complex in nature with a myriad of interactions occurring both with in and between the atmosphere and biosphere. Although there is overall recognition that many specific environmental problems are inextricably linked to or influenced by one another. The importance of these issues has led to the evolution of a new branch in the field of economics called "Environmental Economics" (coe.mse.ac.in)
Environmental economics is a sub field of economics concerned with environmental issues (other usages of the term are not uncommon). In using standard methods of neo-classical economics, it is distinguished from green economics or ecological economics, which include the nonstandard approaches to environmental problems, environmental science/environmental studies, or ecology. (Wikipedia)
The economic growth is infact good for the environment, and there are limits to the contribution that economic growth can make to human well being. Forests are being depleted throughout the world since this is the economically optimal strategy for the owners. However, forests not only provide timber but also perform global ecosystem services. Forests absorb carbon dioxide, preserve biodiversity, prevent soil erosion, maintain hydrological cycle, etc. Hence, global environmental sustainability, a prerequisite for economic sustainability, might require that limits be placed on the depletion of natural resource stocks, even if it appears that this means sacrificing some of the monetary value of these stocks
As the market cannot reflect all the values of the services provided by the natural environment, this implies that environmental sustainability places a constraint on economic growth. Because the services provided by natural resources are not traded in the markets, they are not reflected in the value of conserving natural resource stocks. In economic terminology, these are examples of market failures, and that is an outcome, which is not efficient in an economic sense. Here the inefficiency is caused because too much of the polluting activity will be carried out, as the polluter will not take the interests of those adversely affected by the pollution into account. This has led to controversial research into measuring well being which tries to measure when pollution is actually starting to affect human health and general quality of life. (Wikipedia)
Despite a greater commitment by the World Government's to protect public health, forests, and wildlife, policies geared to develop the country's economy have taken precedence in the last 20 years. While industrial development has contributed significantly to economic growth in, it has done so at a price to the environment. Not only are industrial pollution increasing public health risks, but abatement efforts also are consuming a significant portion of countries gross domestic product (GDP). The world environmental situation is likely to be further aggravated by the increasingly rapid, large-scale global extinction of species. It occurred in the 20th century at a rate that was a thousand times higher than the average rate during the preceding 65 million years. This is likely ...Show more

Summary

Human beings depend on nature for their survival. For instance, they use the energy and raw materials to produce various goods and consume the resources provided by nature like water and air. As any production activity generates some waste, humans depend on nature for disposing not only the waste arising out of production but also arising out of different human activities
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Environmental Economics Bachelor Essay essay example
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