Prerequisite : Prerequisite :( 0605328)
Economic issues related to the agricultural environment and environmental policy. Microeconomic tools are applied for the analysis of externalities, welfare, public goods, property rights, market failure, and social cost-benefit analysis. Valuation of the environment; rationale, valuation techniques using market prices, productivity changes, changes of earnings, opportunity cost approach, preventive expenditure approach and replacement, economic incentives for environmental protection, and economics of sustainable development.