Environmental & Natural Resource Economics

For courses in environmental economics

Environmental & Natural Resource Economics is the best-selling text for this course, offering a policy-oriented approach and introducing economic theory in the context of debates and empirical work from the field. You will leave the course with a global perspective of both environmental and natural resource economics.

 

• Gain flexibility in your course outlines: The text is organized, so that you can fit individual course outlines.
• Use relevant material: Students identify with up-to-date information, which gives them a global perspective on key issues.
• Engage students with self- test exercises, debates and examples: Students are able to prepare for their field and learn from an active learning path, which allows them to grasp concepts before moving though the text.

1 Visions of the Future 1

2 The Economic Approach: Property Rights, Externalities, and Environmental Problems 15

3 Evaluating Trade-Offs: Benefit-Cost Analysis and Other Decision-Making Metrics 46

4 Valuing the Environment: Methods 73

5 Dynamic Efficiency and Sustainable Development 105

6 Depletable Resource Allocation: The Role of Longer Time Horizons, Substitutes, and Extraction Cost 122

7 Energy: The Transition from Depletable to Renewable Resources 145

8 Recyclable Resources: Minerals, Paper, Bottles, and E-Waste 173

9 Water: A Confluence of Renewable and Depletable Resources 200

10 A Locationally Fixed, Multipurpose Resource: Land 234

11 Storable, Renewable Resources: Forests 254

12 Common-Pool Resources: Commercially Valuable Fisheries 278

13 Ecosystem Goods and Services: Nature’s Threatened Bounty 316

14 Economics of Pollution Control: An Overview 343

15 Stationary-Source Local and Regional Air Pollution 378

16 Climate Change 399

17 Mobile-Source Air Pollution 420

18 Water Pollution 445

19 Toxic Substances and Environmental Justice 480

20 The Quest for Sustainable Development 508

21 Visions of the Future Revisited 531

Answers to self-Test Exercises 541

Glossary 564

Name Index 575

Subject Index 582