Economic valuation of marine ecosystem services: Methodological issues and challenges

Shyam, S Salim and Shridhar, Nivedita and Rahman, M Ramees (2015) Economic valuation of marine ecosystem services: Methodological issues and challenges. [Teaching Resource]

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Abstract

The economy has a complex relationship with the environment. The environment not only provides the raw materials and energy for the production of goods and services that support people’s lifestyles, but also sustains damage through the activities of households and businesses. Environmental economics, being a sub-field of economics, is concerned with environmental issues. According to the quoting from the National Bureau of Economic Research Environmental Economics program, “Environmental Economics undertakes theoretical or empirical studies of the economic effects of national or local environmental policies around the world. Particular issues include the costs and benefits of alternative environmental policies to deal with air pollution, water quality, toxic substances, solid waste, and global warming’’. Environmental economics seeks to assess various losses due to the economic activities and to fix upon the most competent way to reduce them, as well as to compare the cost of environmental damage to the cost of mitigation.

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