Economics, Policy, and Sustainable Development

These flashcards cover key concepts related to economics, environmental policy, and sustainable development as discussed in the lecture.

What does sustainable development aim to achieve?

It aims to meet the needs of the present without compromising the ability of future generations to meet their own needs.

What program did Costa Rica implement to enhance its forest ecosystem?

Pago por Servicios Ambientales (PSA) – Payment for Environmental Services.

What are the four ecosystem services recognized by the PSA program in Costa Rica?

1. Cleansing of water and reduction of erosion 2. Richness in biodiversity 3. Scenic beauty attracting ecotourists 4. Reduction of greenhouse gases and carbon sequestration.

What significant increase occurred in Costa Rica’s forest cover from 1983 to today?

Forest cover rose from 17% in 1983 to 53% today.

What are the inputs and outputs of ecosystems in traditional economics?

Inputs are natural resources received from the environment, and outputs are waste discharged back into the environment.

What is one major assumption of neoclassical economics?

Natural and human resources are either infinite or can be easily replaced when used up.

What does cost-benefit analysis compare?

It compares the estimated costs of a proposed action with its benefits.

How does environmental economics differ from traditional economics?

It aims for sustainability within economic systems by accounting for external costs and environmental impacts.

What significant publication raised awareness about ecological and health impacts of industrial chemicals?

Rachel Carson's Silent Spring, published in 1962.

What major U.S. legislation created an environmental protection agency?

The National Environmental Policy Act (NEPA) of 1970.

What does the State Environmental Quality Review Act (SEQR) require?

It requires agencies to examine environmental impacts along with social and economic considerations for certain projects.

What is a Positive Declaration in the context of SEQR?

It indicates that an action has potential environmental impacts and requires an Environmental Impact Statement (EIS).

What economic model is often invoked when discussing trade-offs in resource use?

The theory of supply and demand.

What was a criticism of Costa Rica's environmental program payments?

Some payments were wasted on people who had no plans to remove trees, and much money went to the wealthiest landowners.

How did funding for Costa Rica's PSA program originate?

From beneficiaries of the ecosystem services and a 3.5% tax on fossil fuels.

What was the primary goal of the major environmental protection laws from 1963-1980?

To regulate pollution and protect environmental and public health.