About Natural Resource & Environmental Economics
The course requires students’ background knowledge of introductory economics, and more of microeconomics. The theoretical foundations try to elaborate how environment affects (and is affected by) human activities. The subject is concerned on the relationship between environment and economic activities; the issue and role of property rights; optimal and sustainable utilization of depletable (non renewable) and renewable resources; and on the optimal pollution control issues. Since every rational individual and the society as a whole is concerned on the balance between human activities and preservation of safe environment for the existing and future generations; the basic question is how to use those resources in an optimal and sustainable manner. The module aims at enabling the students to understand such circumstances and be aware of the effects of economic activities on the environment in policy making processes.