What if the way we grow our economies is quietly eroding the natural systems we rely on every day? This course dives straight into that tension, unpacking the core ideas behind environmental and natural resource economics. You will explore how traditional economic thinking often overlooks environmental costs, and why that gap creates serious challenges. By the end, you will understand how welfare, efficiency, and sustainability intersect, and why balancing them is not just theory but a pressing global need.

You will get hands-on experience with essential concepts such as marginal cost and benefit, market failure, and deadweight loss, all illustrated through real-world environmental issues. The course breaks down externalities, both negative and positive, and shows how they shape market outcomes. You will also examine public goods, common resources, and policy tools such as pollution taxes and tradable permits. These are not abstract ideas; they are practical levers governments use to control environmental damage and encourage innovation.

Beyond theory, the course connects economics with law and global action. You will look at the limits of GDP and explore better ways to measure well-being and sustainability. It also covers key environmental laws, regulatory systems, and international agreements that shape how countries respond to environmental challenges. If you want to understand how economic decisions impact the planet and how smarter policies can fix it, this course gives you that edge.