Environmental economics
Environmental issues have come to the fore in recent years. Designing policies aimed at reducing environmental pollution and degradation requires that we understand the economics behind these actions.
Environmental economics focuses on market failure - when environmental problems occur due to non-existence of markets or due to markets not working properly. In such instances, interventions such as emissions tax or tradable permits might be needed to deal with the environmental problems. Environmental economics subjects critically evaluate the different regulatory approaches for dealing with environmental degradation, showing you how to place monetary value on environmental resources.
Ecological economics focuses on issues relating to consumption, allocation and management of natural resources. Students learn about the economic principles behind the management of renewable and non-renewable resources; and deals with issues of sustainability and bio-diversity.
View the subjects offered within the environmental and ecological economics field.