Environmental economics is a special area of economy focusing on interactions between the economy and the environment. Although its progress as a scientific discipline did not start until the 60s, at a time when global environmental pollutions and the first shortages of some of the non-renewable energy sources emerged, the basic idea concerning the scarcity of natural sources and the limitations which it presents for the economic activity can already be found towards the end of the 18th century.
Today, environmental economics deals with three basic issues. The first is concerned with the relationship between the environment and economic growth, which can be reduced to the current debate concerning sustainability; the second issue revolves around the evaluation of particular goods and services (functions) coming from the environment; and lastly, the third issue is an issue concerning the formation of the politics of environmental protection, which can be reduced to a selection of specific instruments of environmental protection politics.
Researchers within this area are primarily concerned with the economic aspects of the environmental protection politics, which also includes institutional aspects and guidelines for the operationalization of strategic documents concerning the management of specific natural resources (water, for example). Topics relating to global environmental changes such as climate change mitigation etc. are also represented.