Environmental Systems and Societies · HL lenses (higher level only)
ESL.b — Environmental economics
Environmental Systems and Societies · SL / HL · syllabus-mapped notes
Economics, environmental economics and market failure
Economics as the study of production, distribution and consumption; environmental economics and its technocentric/ecocentric perspectives; and market failure.
Correcting market failure: polluter-pays and greenwashing
The polluter-pays principle and its named solutions (quotas, fines, taxes, tradeable permits, certification), and greenwashing as a form of misinformation.
The commons, valuation and environmental accounting
The tragedy of the commons and how it can be circumvented (Ostrom), environmental accounting, and use versus non-use values.
Ecological economics
The economy as a subsystem of the biosphere, natural capital and the precautionary principle, and the greater emphasis on valuing ecosystem services.
Economic growth and environmental welfare
GDP and per-capita GDP, the linear economy, the mixed impacts of growth on the environment, and eco-economic decoupling (absolute vs relative).
Degrowth and sustainable economic models
The ecological-economics case for degrowth/slow/zero growth and footprint-biocapacity balancing, and the circular economy and doughnut economics models.