This course is developed to teach Environmental economics to understand the fundamental concepts, subject matter, nature and scope of environmental economics and key environmental issues and problems.
The objective is to develop a good understanding of market failure and externalities, Pareto efficiency, maximum social welfare and perfect competition, measures to control pollution and externalities, Pigouvian tax and subsidies, Compensation criterion, social choice and justice, property rights and Coase theorem.
The purpose of this course is to provide students with a basic understanding of the cost of environmental growth and environmental degradation, sustainable policy approach to check environmental degradation, sustainable development approaches, green accounting, methods of environmental valuation, Environmental concerns like climate change: global warming, ozone depletion and Bio-diversity loss, policy instruments for environmental protection, environmental education , environmental awareness, environmental laws, environmental hazards and disaster management, environmental risk analysis and uncertainty, economics of recycling and waste management.
Environmental economics is a discipline of economics that focus on economic effects of environmental policies around the world. It is a science focus on natural resources and efficient allocation, management including alternatives, environmental policies and environmental damages such as air, water soil pollution, solid waste management, and global warming etc.
The relationship between the economy and the environment that places in context many of the activities undertaken by environmental economists, in particular, environmental policy design and implementation.
The model we develop draws attention to some of the key relationships between the economy, the environment, and the varying importance attached to these relationships by the environmental economics profession.This is an exciting field of economics to study, and very much at the heart of many public debates and controversies.