Authors: Frederick A. Halcon
Abstract: This article explored the idea of analyzing issues in environmental economics using the classical demand and supply frameworks in basic economics. This research is qualitative in nature that sprung from a potential classroom module on basic economics. Since one of the key concepts in economics is the idea of equilibrium, it can be seen in noted cases mentioned in this research that dilemmas concerning the environment and sustainable use of resources are typically caused by the lack of equilibrium or balance in general. Thus, negative externalities arise. As part of the policy making discipline of economics, this research also cited the different measures that are likely to be imposed by the law governing bodies of the state to help solve the problems that stem from negative externalities and environmental disequilibrium.
Keywords: environmental economics, demand and supply, externalities, sustainability, sustainable development, green economics