Principles of Environmental Economics: Economics, Ecology and Public Policy

Principles of Environmental Economics: Economics, Ecology and Public Policy

Principles of Environmental Economics: Economics, Ecology and Public Policy

Principles of Environmental Economics: Economics, Ecology and Public Policy

Synopsis

This text offers an systematic exposition of environmental and natural resource economics. It considers a variety of real world examples to illustrate the policy relevance and implications of key economic and ecological concepts.

Excerpt

The primary objective of this book is to present the economic and ecological principles essential for a clear understanding of the complex contemporary environmental and natural resource issues and policy considerations. Several textbooks have been written on this subject in recent years. One may ask, then, what exactly differentiates this one from the others?

LEVEL

This book is written for an introductory-level course in environmental and resource economics. It is primarily designed for college sophomores and juniors who want to study environmental and resource concerns with an interdisciplinary focus. The academic majors of these students could be in any field of study, but the book would be especially appropriate for students with majors in economics, political science, environmental studies or biological sciences.

Several other textbooks may claim to have the above-stated features. However, very few, if any, offer two chapters that are exclusively designed to provide students with fundamental economic concepts specifically relevant to environmental and resource economics. In these chapters, economic concepts such as demand and supply analysis, willingness to pay, consumers’ and producers’ surplus, rent, marginal analysis, Pareto optimality, factor substitution and alternative economic measures of scarcity are thoroughly and systematically explained. The material in these two chapters (Chapters 2 and 3) is optional. They are intended to serve as a good review for economics students and a very valuable foundation for students with a major in a field other than economics. This book requires no more than a semester course in microeconomics. Thus, unlike many other textbooks in this field, it does not demand a knowledge of intermediate micro-economics, either implicitly or explicitly.

The claim that environmental and resource economics should be studied within an interdisciplinary context is taken very seriously. Such a context requires students to have, in addition to microeconomics, a good understanding of the basic principles of the natural and physical sciences that govern the natural world. This book addresses this concern by devoting

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