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Lecture 10

EC207 Lecture Notes - Lecture 10: Environmental Accounting, Global Warming


Department
Economics
Course Code
EC207
Professor
Shadab Qaiser
Lecture
10

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Ch 10 The Environment and Development
10.1 The Environment and dev: basic issue
- Ignorance or econ necessity for survival
- Reduced health and productivity of resources
- Boom in population -> pressure on land, clean water and sanitation (for farmers especially is
hard)
- Sustainability: Careful balance b/w econ growth and env preservation
o 3 measures: future social benefits, paying proper attention to market failures, and
explicitly valuing natural resources as a form of capital stock rather than consumption
- Global warming Increasing average air and ocean temperatures.
- Used in reference to the trend that began in the mid-twentieth century and attributed largely to
human industrial, forestry, and agricultural activities emitting greenhouse gases.
- Climate change No transient altering of underlying climate, such as increased average
temperature, decreased annual precipitation, or greater average intensity of droughts or
storms. Used in reference to the impact of the global warming phenomenon. Note the
distinction between changes in weather (which varies within a climate) and changes in climate
that alter underlying probabilities of weather outcomes.
- Environmental accounting: the incorporation of env benefits and costs into the quantitative
analysis of econ activities
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