"We've all learnt to do our bit for the environment in recent years, but have you ever thought about studying it from an economic perspective? Environmental economics looks at the effects of policies around the world, with a particular focus on the costs and benefits of efforts to address concerns such as air pollution, water quality and, of course, global warming. One of the central tenets is the concept of what we call market failure - not allocating resources efficiently for the greatest public good. What we try to determine is how to allocate resources in a way that means no-one is worse off - as opposed to in a way that means someone gains while someone else suffers."
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