1. Economics, Environment, and Sustainability
G. Tyler Miller’s
Living in the Environment
14th Edition
Chapter 26

2. Key Concepts Types of economic systems
Economics and resource management
Monitoring economic and environmental progress
Full-cost pricing
Effect and reduction of poverty
Shifting to environmentally sustainable economies

3. Economic Resources
Capital
Natural resources
Human resources
Physical resources

4. Economic Systems Pure free-market economic systems
Demand, supply and price
Market price equilibrium point
Marginal costs and benefits
Price inelasticity
Government involvement in markets

5. Neoclassical vs. Ecological Economists
Differing views of natural resources
Differing views on economic growth
Effective property rights
“Eco-economy”

6. Ecological Economics
Fig p. 587

7. Economic Growth Economic growth
Environmentally sustainable economic development
Fig p. 588

8. Economics of Pollution Control
Optimum level of pollution
Cost-benefit analysis (CBA)
Green taxes and fees

9. Monitoring Environmental Progress
Gross domestic product (GDP)
Per capita GDP
Limits of GDP and Per capita GDP
Genuine progress indicator (GPI)
Index of Sustainable Economic Welfare
Materials balance measurements

10. Harmful External Costs and Full-Cost Pricing
Internal costs
External costs
External benefits
Positive and negative externalities
Full-cost pricing

11. Improving Environmental Quality and Shifting to Full-Cost Pricing
Government subsidies and tax breaks
Green taxes (trade-offs: Fig p. 595)
Environmental tax reform
Innovation-friendly regulations
Tradable pollution and resource-use rights
Market forces

12. Tradable Environmental Permits: Trade-offs
Fig p. 597

13. Reducing Poverty to Improve Environmental Quality and Human Well-Being
Premature death and health problems
Environmental impact of poverty
Role of the World Bank
Fig p. 599
Poor help themselves

14. Making the Transition to Environmentally Sustainable Economies
Mimic natural systems
Sunset businesses
Eco-friendly businesses
Improve public awareness
Refer to Case Study p