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by: Cassandra Miller

EcologicalEconomic.pdf COMM 210

Cassandra Miller
GPA 3.363

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These notes are over the lecture on Monday
Decision Making in Natural Resource Management
Class Notes
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This 2 page Class Notes was uploaded by Cassandra Miller on Sunday January 31, 2016. The Class Notes belongs to COMM 210 at Ball State University taught by Denker in Winter 2016. Since its upload, it has received 29 views. For similar materials see Decision Making in Natural Resource Management in Environmental Science at Ball State University.

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Date Created: 01/31/16
Ecological Economic: Basic Concepts Monday, January 25, 2016 9:01 AM Focuses on scale - how big can the economy be before it is too big Energy and material flows ENVIRONMENTAL MICROECONOMICS Most appropriate in addressing specific, quantifiable problems Timber license fees in one forest Emission limits in a particular factory Analytical techniques Supply and demand Resource valuations Cost-benefit analysis Establishing rules for the use of both private and commonly help property ENVIRONMENTAL MACROECONOMICS More appropriately applied to Broad-scale or global problems Unquantifiable ideas such as aesthetics, ethics, or biodiversity Puts the economic cycle in the context of broader ecological cycles - carbon, nitrogen, water, organic cycles Economic activity speeds up the throughput of materials Optimal macroeconomic scale - economic system have optimal scales beyond which further growth leads to lower well-being or resource degradation Further growth will further deplete resources Switch to a steady state economy From a mathematical standpoint there is no problem with economic growth .. forever ENERGY AND ENTROPY The first law of thermodynamics Law of conservation of energy Energy is neither created or destroyed. It changes forms and is transferred. The second law of thermodynamics Law of entropy The measure of unavailable energy is a system In all physical processes, energy is degraded form an available to an unavailable state All economic processes use energy and transform energy form a usable to unusable state The physical outputs of these processes contain embodied energy Natural systems cycle energy and materials many more times than human systems do Energy comes from the sun Living system obtain energy through photosynthesis, know as net primary production (NPP) NPP is used directly or indirectly to support out economic activity Human use and estimated 40% of terrestrial NPP and 25% of global NPP A doubling economic system would bring us close to terrestrial limits LONG-TERM SUSTAINABILITY Natural capital sustainability: countries should aim to conserve their natural capital by limiting its depletion or degradation and investing in its renewal Substitutability: the ability of human-made capital compensate for the depletion of natural capital Complementarity: both human-made and natural capital are required for effective production Fishing boats and fish Solar power and panels Strong sustainability: assumes very limited substitutability Weak sustainability: assumes natural and human-made capital are generally substitutable Must account for: Full ecological value of natural capital Long-term effects of decisions


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