This subject introduces you to the field of environmental and resource economics. During the subject, you will explore the basic relationships between the economy and the environment and learn how to tackle environmental and resource degradation issues using economic principles and methods. In particular, you will examine (i) the theoretical framework for the optimal management of natural resources and environmental quality, and (ii) various analytical tools including benefit-cost analysis. Different policy approaches to address environmental externalities are also considered, such as command-and-control and incentive based strategies.
