Green economics as an emerging approach that blends theory, policy, and practice in order to tackle pressing environmental issues such as climate change, energy crisis, pollution, and waste disposal. Central to green economics is the concept of market failure, the failure of markets to allocate resources efficiently in response to the needs of the society. Market failure commonly occurs when there are externalities, common property, and public goods – situations common to environmental issues. Green economics often deals with the effects of economic and environmental policies used to address these market failures.
Course aims:
• Arouse students’ awareness and interest about environmental issues;
• Educate students about the relationship between environment and the economy;
• Develop students’ ability to analyze and propose solutions for environmental problems;
• Develop students’ sense of responsibility about environmental protection.