About

Environmental-Economics is the theoretical and empirical scientific study of economic aspects of the environment. The study acknowledges that environmental services (or environmental resources) have economic value and that there are costs to economic activities that are not accounted for in traditional economic models.

Environmental services include things like access to water, air, forest or a park, and the climate. While it is difficult to put a cost on environmental services, there may be a higher price to pay when they are lost. As such, the study of Environmental-Economics deals with problems like the valuation of environmental services, cost of environmental degradation and externalities.

The field of study enables policymakers to write policies that allocate environmental services to economic activities, regulate usage, protect natural resources and guide ownership.