Environmental Economics

Economic Capital or Natural Resources
Value of the Worlds Ecosystems

Manufactured Capital

Human capital

Command economic systems

Market economic systems

Supply and demand Curves

Mixed economic systems

Measuring economic growth

GDP Essentially, Gross Domestic Product includes production within national borders regardless of whether the labor and property inputs are domestically or foreign owned. In contrast, gross national product is the output of labor and property of US nationals regardless of the location of the labor and property. GNP Gross National Product includes income earned by the factors of production (assets and labor) owned by a country's residents but excludes income produced within the country's borders by factors of production owned by nonresidents.
 
 

Sustainability Sustainability is a relationship between dynamic human economic
                           systems and larger dynamic, but normally slower-changing
                           ecological systems, in which 1) human life can continue
                           indefinitely, 2) human individuals can flourish, and 3) human
                           cultures can develop; but in which effects of human activities
                           remain within bounds, so as not to destroy the diversity,
                           complexity, and function of the ecological life support system"
                           (Costanza, 8-9).

Environmental Accounting

Internal costs

External costs

Full cost pricing

Cost-Benefit Analysis