Chapter 03: Economic, social and environmental sustainability
Explainer, notes, worksheet and data.
Pillars of sustainability
Identify ESG indicators and what they tell us
Implications of sustainable development (ie balancing the pillars of balancing environmental protection, social equity, and economic viability)
Explainer
What you must be able to do
- Explain and understand the United Nations Sustainable Development Goals (UN SDG's) and how they can be achieved
- Draw and interpret the Kuznet's curve
- Apply economic thinking to everyday decisions (trade-offs).
Core ideas
Economics studies how people, firms and governments make choices when resources are limited. The key is trade-offs: choosing more of one thing usually means giving up something else.
Exam focus
In chapter 2, we learned that resources are scarce and we must make choices about what needs and wants we must justify. Sustainability - through the UN SDG's - provide a framework for making informed decisions, because they give us clear targets to work towards.