Write short notes on Environmental Economics.
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Environmental economics is an area of economics that studies the financial impact of environmental policies. Environmental economists perform studies to determine the theoretical or empirical effects of environmental policies on the economy.
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Environmental economics studies the impact of environmental policies and devises solutions to problems resulting from them. The approach can either be prescriptive or incentive-based. The two main challenges to environmental economics are its transnational nature and its impact on various moving parts of a society.
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