This is yet another interesting area of economics that may go unnoticed by many but is very important. Have you an interest in looking at environmental factors and their impact on the economy? Do you enjoy research and have a mind for mathematics and analysis? A course in this area may be what you’re looking for.
Why not specialize in an area of your interest? Take a look and see if we can help you on your pathway.
What is environmental economics?
Environmental economics is the area of economics that studies the impact of environmental policies on the economy. It aids the design of environmental policies and helps to analyze the effects of those policies, both existing and proposed, on the economy and finance.
What does an environmental economist do?
As an environmental economist you will be responsible for carrying out economic analysis in relation to environmental protection. You will conduct research on economic and environmental topics, assess costs and benefits of particular activities, prepare and deliver presentations to colleagues, develop programmes and policy recommendations and perform mathematical modelling of relevant systems. You may also have to write reports and proposals and examine naturally resources and their effect on costs and economic factors. These are just an example of tasks and duties you may carry out.
In this role you will be expected to work around 40 hours a week, in a 9-5 format. The hours may not always be predictable and you may need to be flexible and work extra hours in order to meet deadlines and carry out research to get work done effectively and on time. This work is usually office based.
There are courses on offer in the area across the UK. Some courses offer the opportunity to study either part time or full time. Universities may have certain restrictions in place due to Covid-19 and may offer courses online. The majority of courses available under this heading are related to landscaping. Courses available include:
Environmental Economics and Environment Management
Postgraduate courses in this area will allow students to gain an understanding of environmental and ecological economics and the interactions between economic, social and ecological systems. You will gain all the relevant skills and knowledge in order to work in the field at local, regional and global levels. Modules you may study include Biodiversity Conservation and Protected Areas, Applied Environmental Economics, Research Skills and Statistical Methods, Current Research in Environment, Economics and Ecology as well as writing a dissertation.
The courses in this area are limited but there are also courses at PhD level. Be sure to research your ideal course in detail because you never know what you mind find or what path it might lead you on to.
Entry requirements may differ from course to course or university to university. Therefore, it is important to research your specific course in detail to ensure you meet the entry requirements. As these courses are postgraduate courses, you will need a bachelor’s degree. Some courses may accept a 2.2 degree while others will require a 2.1 in areas such as economics, business and related.
Your salary as an environmental economist will depend on your employment type, who you work for, your experience and possibly your location. In the profession of an economist you entry level salary will normally be between £25,000-£35,000 and as experience increases so will your salary. With around 5 years experience you could earn £40,000+. Economists at senior level can earn between £50,000-£75,000 depending on their sector. All figures are based on estimates and are intended to be used as a guide only.
- Central Government agencies
- Financial Institutions
- Local government agencies
- Investment organisation
- Multinational companies
- Environmental economist
- Travel economist
- Financial Risk analyst
- Economic researcher
- Financial consultant
- Data analyst
- Financial planner
Skills and requirements
Skills and requirements helpful in this area include:
- The ability to work well with others
- Time management skills
- Organisation skills
- Numeracy and mathematical skills
- Excellent communication skills
- Strong verbal skills
- IT ability
- Ability to understand complex issues
- Independent thinker
- Pays attention to detail
- Research skills
- Analytical mind
- Ability to work off own initiative