Environmental Economics: Integrating Ecology into Economic Decision-Making

Abstract

Environmental economics has emerged as a vital field in addressing the growing tension between economic growth and environmental sustainability. It provides frameworks for valuing natural resources, assessing environmental costs, and designing policies to internalize externalities such as pollution and climate change. This paper explores the theoretical foundations of environmental economics, key principles, global applications, challenges, and its role in achieving sustainable development. The study emphasizes that integrating environmental concerns into economic systems is essential to balance resource use, equity, and long-term growth.