Environmental economics is an area of economics that studies the financial impact of environmental policies. Environmental economists perform studies to determine the theoretical or empirical effects of environmental policies on the economy. This helps governments design appropriate environmental policies and analyze the effects and merits of existing or proposed policies. Environmental economics studies the impact of environmental policies and devises solutions to problems resulting from them. Environmental economics can either be prescriptive-based or incentive-based. A major subject of environmental economics is externalities, the additional costs of doing business that are not paid by the business or its consumers. Another major subject of environmental economics is placing a value on public goods, such as clean air, and calculating the costs of losing those goods. Since some environmental goods are not limited to a single country, environmental economics often requires a transnational approach.
economics, policies, environmental, consumers, goods, country, transnational, consumers
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