4. Environmental Economics

Environmental Economics is a branch of Economics that focuses on the relationship between economic activity and the environment. It aims to understand how economic processes affect environmental quality and, conversely, how environmental issues impact economic performance. The discipline explores concepts such as market failures, externalities, and public goods, emphasising the importance of incorporating environmental costs into economic decision-making.

As global challenges like climate change, pollution, and resource depletion become increasingly pressing, environmental Economics provides valuable tools for analysing policies and strategies aimed at promoting sustainability. By studying the interplay between economic systems and environmental concerns, you will gain insights into effective regulations and market-based solutions that can mitigate negative environmental impacts. 

This module will cover essential topics, including the identification of market failures, the role of externalities, and approaches to regulating environmental resources, equipping learners with the knowledge needed to address contemporary environmental challenges.