Introduction to environmental and ecological economics

This lecture introduces the fundamental concepts of environmental and ecological economics, focusing on the study of how individuals and societies use scarce resources to satisfy unlimited wants. It covers economic actors, circuits, and key assumptions, distinguishing between environmental and ecological economics. The lecture explores sustainable development, human-centered views, economic production, natural resources, and wealth accounting by the World Bank. It also delves into the moral imperative of protecting the planet, different perspectives on nature, and the conditions for sustainable development, emphasizing the importance of maintaining natural capital. The instructor provides insights into wealth per capita trends and variations across different countries, highlighting the complexities of wealth accumulation and sustainability.