Economics and Environmental economics

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Difference between Economics and Environmental economics

Economics vs. Environmental economics

Economics is the social science that studies the production, distribution, and consumption of goods and services. Environmental economics is a sub-field of economics that is concerned with environmental issues.

Capital (economics)

In economics, capital consists of an asset that can enhance one's power to perform economically useful work.

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Capitalism

Capitalism is an economic system based upon private ownership of the means of production and their operation for profit.

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Cost–benefit analysis

Cost–benefit analysis (CBA), sometimes called benefit costs analysis (BCA), is a systematic approach to estimate the strengths and weaknesses of alternatives (for example in transactions, activities, functional business requirements or projects investments); it is used to determine options that provide the best approach to achieve benefits while preserving savings.

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Development economics

Development economics is a branch of economics which deals with economic aspects of the development process in low income countries.

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Ecological economics

Ecological economics (also called eco-economics, ecolonomy or bioeconomics of Georgescu-Roegen) is both a transdisciplinary and an interdisciplinary field of academic research addressing the interdependence and coevolution of human economies and natural ecosystems, both intertemporally and spatially.

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Economics

Economics is the social science that studies the production, distribution, and consumption of goods and services.

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Emissions trading

Emissions trading, or cap and trade, is a government, market-based approach to controlling pollution by providing economic incentives for achieving reductions in the emissions of pollutants.

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Energy economics

Energy economics is a broad scientific subject area which includes topics related to supply and use of energy in societies.

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Environmental economics

Environmental economics is a sub-field of economics that is concerned with environmental issues.

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Equity (economics)

Equity or economic equality is the concept or idea of fairness in economics, particularly in regard to taxation or welfare economics.

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Externality

In economics, an externality is the cost or benefit that affects a party who did not choose to incur that cost or benefit.

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Globalization

Globalization or globalisation is the process of interaction and integration between people, companies, and governments worldwide.

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Green economy

The green economy is defined as an economy that aims at reducing environmental risks and ecological scarcities, and that aims for sustainable development without degrading the environment.

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Invisible hand

The invisible hand is a term used by Adam Smith to describe the unintended social benefits of an individual's self-interested actions.

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Market failure

In economics, market failure is a situation in which the allocation of goods and services by a free market is not efficient, often leading to a net social welfare loss.

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Money

Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context.

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Money supply

In economics, the money supply (or money stock) is the total value of monetary assets available in an economy at a specific time.

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Pareto efficiency

Pareto efficiency or Pareto optimality is a state of allocation of resources from which it is impossible to reallocate so as to make any one individual or preference criterion better off without making at least one individual or preference criterion worse off.

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Political economy

Political economy is the study of production and trade and their relations with law, custom and government; and with the distribution of national income and wealth.

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Price system

In economics, a price system is a component of any economic system that uses prices expressed in any form of money for the valuation and distribution of goods and services and the factors of production.

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Public good

In economics, a public good is a good that is both non-excludable and non-rivalrous in that individuals cannot be effectively excluded from use and where use by one individual does not reduce availability to others.

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Schools of economic thought

In the history of economic thought, a school of economic thought is a group of economic thinkers who share or shared a common perspective on the way economies work.

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Society

A society is a group of individuals involved in persistent social interaction, or a large social group sharing the same geographical or social territory, typically subject to the same political authority and dominant cultural expectations.

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Sustainability

Sustainability is the process of change, in which the exploitation of resources, the direction of investments, the orientation of technological development and institutional change are all in harmony and enhance both current and future potential to meet human needs and aspirations.

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The New Palgrave Dictionary of Economics

The New Palgrave Dictionary of Economics (2008), 2nd ed., is an eight-volume reference work on economics, edited by Steven N. Durlauf and Lawrence E. Blume and published by Palgrave Macmillan.

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Transaction cost

In economics and related disciplines, a transaction cost is a cost in making any economic trade when participating in a market.

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