This course is designed for students undertaking the Master of Environmental Management. It is one of several fundamental/disciplinary knowledge courses in the MEM. It is designed for students without a background in Economics. The course provides a basic understanding of economic principles and of the roles of economics in environmental management. In the course you will also explore the economics of ecologically sustainable development. Microeconomics topics include: markets, supply and demand, pollution, environmental assessment, benefit cost analysis, renewable resources and price incentives for environmental improvements. Macroeconomic topics include: sustainable development and inflation, employment versus the environment, and economic growth, development and the environment. In the course you will explore and critically examine both market and non-market approaches in the attempt to analyse solutions to major environmental problems.