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environmental economics
Environmental Economics is a sub-field of economics that is concerned with environmental issues. Quoting from the National Bureau of Economic Research Environmental Economics program:
() Environmental Economics () undertakes theoretical or empirical studies of the economic effects of national or local environmental policies around the world (). 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.
Environmental economics is distinguished from ecological economics in that ecological economics emphasizes the economy as a subsystem of the ecosystem with its focus upon preserving natural capital.〔Jeroen C.J.M. van den Bergh (2001). "Ecological Economics: Themes, Approaches, and Differences with Environmental Economics," ''Regional Environmental Change'', 2(1), pp. (13-23 ) (press +).〕 One survey of German economists found that ecological and environmental economics are different schools of economic thought, with ecological economists emphasizing "strong" sustainability and rejecting the proposition that natural capital can be substituted by human-made capital.〔Illge L, Schwarze R. (2006). (A Matter of Opinion: How Ecological and Neoclassical Environmental Economists Think about Sustainability and Economics ). German Institute for Economic Research.〕
For an overview of international policy relating to environmental economics, see Runnals (2011).〔(Runnals, D. (2011) “Environment and economy: joined at the hip or just strange bedfellows?”. ''S.A.P.I.EN.S.'' 4 (1) )〕
==Topics and concepts==
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