This module introduces students to environmental and resource economics. It is of paramount importance to understand the balance that should exist between the economy and the environment. The economic theory of efficient pollution control is analysed along with the economic information and values in environmental policy decisions and instrument choice. In addition to that, the law of diminishing returns, the externalities, the sustainable development, the trade – offs, the marginal costs and benefits and the carrying capacity are analysed, so that the students can assess and discuss topics in relation to environmental impact analysis.
