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Environmental Economics is a subfield of economics that focuses on the relationship between economic systems and the natural environment. It seeks to understand how economic activities impact the environment, and how policies and market incentives can be designed to encourage environmentally sustainable practices. These programs offer a range of courses and research opportunities in environmental economics and prepare graduates for careers in academia, government, and the private sector. Environmental economists work to understand these issues and develop policy solutions that balance economic growth with environmental protection.
| Course Name | Environmental Economics |
| Popular program | Bachelors and Master |
| Duration | Bachelor- 3-4 Year Master- 2 Year |
| Employment Area | Government and Private Organisation |
This Blog Includes:
What is the Meaning of Environmental Economics?
The study of cost-effective resource allocation, utilization, and protection is known as environmental economics. In its broadest sense, economics is the study of how people create, use, and dispose of products and services. EE is concerned with how resources are used and managed to benefit the people while addressing environmental effects concerns.
What are the Benefits of Environmental Economics
There are several benefits of pursuing an EE degree. Here are some listed below
- Environmental economics analyses the effects of environmental regulations and develops fixes for the issues they cause.
- Either prescriptive or incentive-based approaches can be used in environmental economics.
- Externalities, or the additional expenses of doing business that is not covered by the business or its customers, are a key topic in environmental economics.
- Putting a value on public goods, such as clean air, and assessing the costs of losing those commodities, are two other key topics in EE.
Must Read- BSc Economics: A Complete Guide
Importance of Environmental Economics
Environmental economics examines how environmental restrictions affect society and creates solutions to the problems they create.
- In EE, prescriptive or incentive-based methods might be applied.
- Environmental economics places a lot of emphasis on externalities, or the additional costs of doing business that is not covered by the firm or its clients.
- Two more important issues in EE are determining the value of public goods like clean air and calculating the costs associated with losing those commodities.
Popular Universities
There are several universities that offer Environmental Economics courses program, Here are some listed below
| Name of the Universities | Country | QS World Ranking 2023 |
| University of Michigan | United State | 25 |
| Imperial College London | United Kingdom | =6 |
| University of California | United State | 44 |
| Swiss Federal Institute | Switzerland | – |
| Arizona State University | United State | 219 |
| University of New South Wales | Australia | 45 |
| University of Cambridge | United Kingdom | 2 |
| University of Manchester | United Kingdom | 28 |
| University of Oxford | United Kingdom | 4 |
| University of Queensland | Australia | =50 |
Popular Courses
Degree courses in Environmental Economics will give you the practical and theoretical knowledge needed as a professional. A candidate who wants to work as an Environmental economist can explore the courses listed below as per the eligibility criteria:
| Courses Level | Duration |
| Certification Courses in Environmental Economics | 3-6 Months |
| Diploma Courses in Environmental Economics | 1-2 Years |
| Bachelors Courses in Environmental Economics | 3-4 Years |
| Master Courses in Environmental Economics | 2 Years |
| Research/ Doctoral Courses in Environmental Economics | 4-7 Years |
Most Preferred Books
Here is the list of popular books:
- Environmental Economics: Indian Perspective by Rabindranath Bhattacharya
- Economics of Environmental By Subhashani Murthikrishan
- Environmental and Natural Resources by Tom Tieta
- The Economics of Climate Change by Nicholas Stern
- Natural Resource Economics An Introduction by Barry C. Field and Martha K. Field
- Forintior of environmental input-output Analysis by Shigemi Kagawa
- Public Policies of Environmental Protections By PR Portney
- Environmental Economics By SN Sarkar
Popular Program
EE is a program created to give students a thorough understanding of resource and environmental economics as well as useful tools for situation analysis. Here are the most popular courses for the same:
Bachelors Programs
- BSc Environmental Economics
- BA in Environmental Economics
- Bachelor of Science in Environmental Economics and Policy
- Bachelor of Science in Environmental Planning
Master Programs
- MSc in Environmental Economics
- Master in Ecological Economics
- Master In environmental Finance
- MSc in Environmental Economics and Planning
- MSc in Regional and Environmental Economics
- Master in Environmental Policy
Admission Process
The admission process for a degree program in environmental economics can vary depending on the institution and the specific program. Here are some general steps that you may need to follow:
- Start by researching different programs related to the field to find one that fits your interests and career goals. Look at the admission requirements and deadlines for each program.
- Most programs will require you to have a bachelor’s degree in economics, environmental science, or a related field. You may also need to have a minimum GPA, take specific coursework, and submit transcripts, GRE scores, and letters of recommendation.
- Once you have met the admission requirements, you will need to submit an application to the program. This may include an online application form, personal statement, resume or CV, and application fee.
- After submitting your application, you will need to wait for a decision from the program. This can take several weeks or months, depending on the program.
- If you are accepted into the program, you will need to accept the offer and provide any additional information or documentation required by the program.
English Proficiency Test
To secure admission to the program student need to submit the English Proficiency Test. Here is the table of the eligible score for English text
Documents Required
Here’s the list of some of the documents required:
- SOP
- LOR
- Academic Transcripts
- Passport
- Passports size photographs
- Entrance Exam
- ID Proof
Career Scope
As it is a rapidly growing field with a wide range of career opportunities. Here are some examples of careers:
- Environmental Economist
- Sustainability Consultant
- Climate Policy Analyst
- Energy Economist
- Natural Resource Economist
- Environmental Risk Analyst
- Corporate Social Responsibility Manager
Job Prospects with Salary
The job prospects for individuals with a degree or experience in EE are generally good, as there is a growing demand for professionals who can help organizations and governments address environmental challenges. Here are some examples of jobs in environmental economics, along with their salary potential:
| Positions | Average Salary ($) | Average Salary in INR |
| Environmental Economist | $80,000 per year, | INR 65.69 Lakh |
| Sustainability Consultant | $70,000 per year | INR 57.48 Lakh |
| Climate Policy Analyst | $75,000 per year, | INR 61.58 Lakh |
| Energy Economist | $90,000 per year | INR 73.90 Lakh |
| Natural Resource Economist | $75,000 per year | INR 61.58 Lakh |
| Environmental Risk Analyst | $70,000 per year, | INR 5748 Lakh |
| Corporate Social Responsibility Manager | $90,000 per year, | INR 73.90 Lakh |
Top Hiring Companies
- Indian Council Research on International Economics Relation
- World Bank
- Asian Development Bank
- Ministry of Economic Affairs
- National Council for Applied Economic Research
- TERI the Energy Resource Institute
- McKinsey & Company
FAQs
Ans: It is a branch of economics that studies the relationship between economic activity and the environment. It seeks to understand how economic decisions impact the natural world, and how environmental issues can be addressed through policy and market-based incentives.
Ans: Skills that are important for a career in EE include a strong understanding of economic theory and principles, as well as knowledge of environmental science and policy. Strong analytical and critical thinking skills are also essential, as well as excellent written and verbal communication skills.
Ans: Jobs in environmental economics can include roles such as environmental economist, sustainability consultant, climate policy analyst, energy economist, natural resource economist, environmental risk analyst, and corporate social responsibility manager.
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