Good day students, welcome to 2017. As you probably know, this Friday's class has been cancelled, and there will be a make-up class on Saturday, January 28. This means we will have two classes in a row - on Friday, January 27, and on the following day!
In the next class we will start discussing an interesting aspect of environmental science - environmental economics. What is environmental economics? It is the study of the value of the environment around us. Environmental economists research environmental topics such as renewable energy, construction of power plants, and pollution control measures. It is the study of how humans use and throw away things made from environmental resources and how this action affects the environment. In everyday life, humanity uses resources from the environment, and sometimes overuses these resources. Environmental economics is related to assigning a cost to these aspects which humans use and break down - costs can sometimes be controlled by regulations such as pollution taxes and erosion prevention.
Environmental economics also has to do with the monetary cost of up keeping environmental related travel destinations, and the cost of maintenance. Often, cost is determined by how willing people are to pay to travel to a certain environmental spot or to engage in activities such as eco-tourism. One job of environmental economists is to assign a monetary value to natural resources and this is done through computer programs that analyze the costs and benefits to environmental management. Another job is to analyze an environmental aspect that has some economic related outcome to it to sense what the impact may be.
More on environmental economics in the next class!
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