As we continue to develop the relationship between economics and our natural world, we will focus on one concept that is studied regularly in ecology and has become very important in both economics and the sustainability of our planet: biodiversity.
In order to understand the significance of economic principles in the biodiversity of our world, you must first understand what biodiversity describes.
The following overview of biodiversity was adapted from In World Resources Institute, World Conservation Union, and United Nations Environment Programme, “Global Biodiversity Strategy,” 1992:
Biodiversity is the totality of genes, species, and ecosystems in a region. Biodiversity can be divided into three hierarchical categories—genes, species, and ecosystems—that describe quite different aspects of living systems that scientists measure in different ways.
Genetic diversity refers to the variation of genes within species. This covers distinct populations of the same species (such as the thousands of traditional rice varieties in India) or genetic variation within a population (high among Indian rhinos, and very low among cheetahs).
Species diversity refers to the variety of species within a region. Such diversity can be measured in many ways, and scientists have not settled on a single best method. The number of species in a region—its species “richness”—is one often-used measure, but a more precise measurement, “taxonomic diversity,” also considers the relationship of species to each other. For example, an island with two species of birds and one species of lizard has a greater taxonomic diversity than an island with three species of birds but no lizards.
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