Topic1 Flashcards
What are the possible reactions to environmental and economic challenges?
- Ignore or Deny
- Be optimistic
- Be pessimistic
- Ask scientifically what should be done to improve development
What are the key topics covered in Resource and Environmental Economics?
- Major topics linking economy and the environment
- Economic assessment of pollution, climate change, resource scarcity
- Promotion of sustainable development
What are the basic concepts introduced in Resource and Environmental Economics?
- Welfare
- Market failure
- External effects
- Public goods
- Natural resource use
- Cost-benefit analysis
What tools does the course provide to analyse environmental problems?
- Economic assessment tools
- Models to practice applying solutions
- Various tools to assess environmental problems
What is the key objective of the European Green Deal?
Reduce climate emissions by at least 55% by 2030, aiming for climate neutrality by 2050.
What is Resource and Environmental Economics?
It applies economic principles to the development and management of the environment and natural resources.
Why are natural resources and environmental services important?
Natural resources are scarce and environmental services are valuable.
What challenges does environmental economics address?
- Market failure
- Irreversibility (e.g., climate change)
- Impact on future generations
- Relation between ecological and economic systems
What is the role of pricing in environmental economics?
Prices often do not exist for environmental goods, leading to market failure.
What are externalities in environmental economics?
Secondary effects of production or consumption that are not compensated, e.g., pollution.
