ABSTRACT
This chapter discusses basic concepts related to environmental economics and a reasonable overview of the policies and instruments more widely used to tackle environment-related issues such as risks to human health from the point of view of the necessary incentives for producers to make their behaviour more sustainable. It describes about the interactions between economy and environment as well as how economists try to solve the puzzle of giving the right value to our environmental resources so that sustainable development can be achieved. The chapter gives business and management students an overview of how economics concepts, approaches and tools can be applied by companies in their decision-making process in order to make it more sustainable and aligned with the Principles for Responsible Management Education. It distinguishes the methods used to give a monetary value to environmental goods and services, including an introduction to waste management as one of the policies for which these methods could be applied.
