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

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

3. Economic Resources  Capital  Human resources  Natural 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”  Differing views of natural resources  Differing views on economic growth  Effective property rights  “Eco-economy”

6. Ecological Economics Fig. 26-4 p. 587

7. Economic Growth  Environmentally sustainable economic development  Economic growth Fig. 26-5 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. 26-9 p. 595)  Environmental tax reform  Innovation-friendly regulations  Tradable pollution and resource-use rights  Market forces

12. Tradable Environmental Permits: Trade-offs Fig. 26-12 p. 597

13. Reducing Poverty to Improve Environmental Quality and Human Well-Being  Poverty  Premature death and health problems  Environmental impact of poverty  Poor help themselves  Role of the World Bank Fig. 26-14 p. 599

14. Making the Transition to Environmentally Sustainable Economies  Mimic natural systems  Sunset businesses  Eco-friendly businesses  Improve public awareness Refer to Case Study p. 601-603