Want to study abroad? Well, in that case, you must have read environmental science in your school. Popularly known as ‘EVS’. And then you must have also studied economics at a later age. Now, do you know what happens when we integrate the two? The concoction is nothing but environmental economics. Call it a lucrative career option, call it a career plan, call it a trendy buzzword. It is here to stay! The branch focuses on the extraction of natural resources, its utilization and the byproduct and wastes it generates all along. It starts with the environment and ends in it! It also critically assesses how the usage of economics helps or deteriorates the environment.
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What Does An Environmental Economist Do?
Environmental economists conduct detailed research on the economic and environmental aspect of a particular project. They may take the help of certain data analysis tools and techniques for this purpose. They may run tools like:
Stochastic Analysis: Tools for Environmental and Resource Economics Modeling
Game Theory: Static and Dynamic Games
Based on the research they have conducted, they prepare cost-effective reports and furnish sustainable policy recommendations for environmental policymakers.
Environmental economists may develop policies and techniques pertaining to:
Detrimental impacts on general society due to the waste emitted by economic activities.
Cap and trading policies
Cost-benefit procedures and techniques set by environmental regulations.
The economic aspect of waste management, land cleanup, biofuels and other environmental technologies and industries.
Monetary estimation and valuation of natural resources in terms of dollars. It may also include valuations of “ecosystem services” such as erosion prevention by trees or water filtering by plants.
Types of Job Roles Environmental Economist
Environmental economists enjoy an array of career roles to chose from, namely:
Energy Economist- The economist in question is vested with the job of study, prediction, and analysis.
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Marine Resource Economist– A Marine Resource Economist deals with the economic aspects of marine management, water quality management, seafood marketing and the impact of coastal industry activities. deals with the management of marine, water quality management
Natural Resource Economist-Natural Resource economist focuses on the demand, supply, and allocation of the earth’s natural resources.
Agricultural Economist-Agricultural Economist is a specialist in understanding the economic activity within agricultural markets.
Principal Research Economist-Principal Research Economist leads and contributes to the analytical work which focuses on the macroeconomic issues.
Chief Economist-Chief Economist is responsible for the development and production of financial analysis. It is a broad field which includes planning and coordination pertaining to economic research.
Marine resources economist- The work of this particular column is to deal with Marine management water quality management impact of coastal industrial activities and seafood marketing.
Natural resource economist– The work of this economist focuses on supply-demand and the allocation of natural resources of the earth.
Agricultural economist- The economist who is vested with the work of an agricultural economist specialises undertaking the economic activity within the agricultural markets.
Principal research economist the work of this particular economist deals with contributing to the analytical work which focuses on the issues of macroeconomics.
1) MSc Environmental Economics and Climate Change at The London School of Economics and Political science, UK
Duration of 1 to 2 years this flagship programme offers a critically deep understanding of economics, policy-making and sciences associated with the change in climate with world-class faculty and research methodology this program is an exceptional one.
Cost: $ 35,000
Duration: 1 year/FT and 2 years/PT
2. MSc Economics and policy of energy and the environment
This is is a program that specialises in the energy and climate field. these are the fields that you are interested in make sure you put it on top of your list.
Cost: $ 36000
Duration: 1 year/FT and 2-5 years/PT
3. MSc environmental economics and environmental management
this particular program is a mixture of three fields namely economic ecological and social systems this integration helps in developing the skills that are required by the policymakers and scientists pertaining to the environment it helps them tackle the global issues pertaining to the environment.
Cost: $ 24000
4. Environmental economics and policy Duke University the USA
Inter environmental economics study students learn about economics politics and law integrated with the environment.
5. Environmental Economics and Management Michigan State University, USA
Reflection program offers to learn of natural resource management and economics.
Cost: $ 50000
Duration: 1 year/FT
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