I wrote this in whilst wearing my pajamas:
Environmental and natural resource economics is a sub-field of economics that includes elements of public finance, industrial organization, international trade and macroeconomics. Its roots are in the market failure theory of negative externalities, public goods and common property resources. Much of the focus is on the economics of pollution control, the intertemporal allocation of renewable and nonrenewable natural resources and applied welfare analysis (i.e., benefit-cost analysis). With increasing population growth, the potential for climate change and numerous other environmental issues negatively affecting society, environmental and natural resource economics is one of the most important areas of economics.
What am I missing?
