Section Learning Outcomes 17! Economy-environment analysis6.2. system of resour ce use. Two different economic approaches to environmental issues, i.e. 3. 3.0! Businessinvolves decision-making. It studies consumer behaviour, product pricing, firm’s behaviour. Journal of Environmental Economics and Policy publishes original papers on topics ranging from applications of economic theory and methods to the appraisal and evaluation of environmental issues and the economic evaluation of environmental policy. Section 3 Self Assessment Questions 23! In the primitive age, the environment consisted of only physical aspects of the planet earth ie., land, water and air as biological communities. In the primitive age, the environment consisted of only physical aspects of the planted earth' land, air and water as biological communities. This paper discusses the development of environmental economics from the Industrial Revolution in Europe to today. As the official journal of the Society for Environmental Economics and Policy Studies and the official journal of the Asian Association of Environmental and Resource Economics, it provides an international forum for debates among diverse disciplines such as environmental economics, environmental policy studies, and related fields. As the time passed on man extended his environment through his social, economic and political functions. As a second step, the argument that it is not possible to consider sustainability only from an economic or ecological point of view is defended; issues such as economic-ecological integration, inter-generational and intra-generational equity are considered of fundamental importance. Business Economics, also called Managerial Economics, is the application of economic theory and methodology to business. Positive and normative economics 17! The scope of this field and its management has raised from manufacturing pollution control appliances, sewage and pollutant treatment plants to treating bio-medical waste and fly ash management. The primary goal of environmental economics is to sustain stability between economic growth and environmental standards. Environmental economics is a sub-field of economics concerned with environmental issues.It has become a widely studied subject due to growing environmental concerns in the twenty-first century. Welfare approach6.4. Like countries having better economy are able to enhance their technology by incurring sufficient expenditure on research and development. Environmental Economist. 3.2! Environmental economics can be considered as a particular specialisation of neo-classical economics studying two fundamental questions: (i) the problem of environmental externalities; and (ii) the correct management of natural resources (in particular, the optimal inter-generational allocation of non-renewable resources). It is said that “knowledge is science, action is art.” Economic theories are used to solve various economic problems in society. Specifically, it comments on the general similarities and differences between the representatives of the schools of economic thought concerning the environment. Economic reviews of environmental policy will also be considered. Ecological interventions, natural disasters and environmental policies contribute to environmental economics thesis topics. The scope of the term ‘Environment’ has been changing and widening by the passage of time. Thus, it can be inferred that besides being a social science, economics is also an art. Economic theory and quantitative methods form the basis of assessments on factors affecting corporations such as business organization, management, expansion, and strategy. Environmental resource management can be viewed from a variety of perspectives.