By Frank J. Convery
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Extra info for Applying environmental economics in Africa, Volumes 23-277
82 Psacharopoulos, Why Educational Policies Can Fail: An Overview of Selected African Experiences No. 83 Craig, Comparative African Experiences in Implementing Educational Policies No. 84 Kiros, Implementing Educational Policies in Ethiopia No. 85 Eshiwani, Implementing Educational Policies in Kenya No. 86 Galabawa, Implementing Educational Policies in Tanzania No. 87 Thelejani, Implementing Educational Policies in Lesotho No. 88 Magalula, Implementing Educational Policies in Swaziland No. 89 Odaet, Implementing Educational Policies in Uganda No.
The boundaries, colors, denominations, and other information shown on any map in this volume do not imply on the part of the World Bank Group any judgment on the legal status of any territory or the endorsement or acceptance of such boundaries. The material in this publication is copyrighted. Requests for permission to reproduce portions of it should be sent to the Office of the Publisher at the address shown in the copyright notice above. The World Bank encourages dissemination of its work and will normally give permission promptly and, when the reproduction is for noncommercial purposes, without asking a fee.
2 Evolution of Environmental Economics Economics can be defined as the science of choice. Not everything can be done; choices have to be made. Economics helps explain the choices that are made and helps in the evaluation of choices in investment and consumption. Market prices are the signals that drive many decisions. This concept of incentives, reflected in prices and otherwise, is central to the contribution that economics makes to the understanding of behavior. The systemic response to prices of goods, services, capital, labor, and so on makes possible the prediction of outcomes to changes at the levels of the firm, consumer, and nation.