Environmental Economics: Course Overview and Key Concepts

This lecture introduces the course on environmental economics, outlining its structure and key topics. The instructor emphasizes that no prior economics knowledge is required, as the course will start with fundamental concepts such as demand, supply, and market dynamics. The course will cover environmental policies, pollution abatement strategies, and investment choices related to cleaner technologies. The instructor also discusses the importance of project evaluation and climate economics, highlighting how economic principles apply to environmental issues. Assessment methods include mid-term and end-of-term exams, each contributing equally to the final grade. The lecture also addresses the historical origins of economics, tracing its development from agronomy and accounting to its current status as a social science. The instructor explains the significance of individualism and constrained optimization in economic decision-making, as well as the distinction between normative and positive analysis. Overall, the lecture sets the stage for a comprehensive exploration of how economics intersects with environmental challenges.