Natural Resource Economics

<p><i>Natural Resource Economics: The Essentials </i>offers a policy-oriented approach to the increasingly influential field of natural resource economics that is based upon a solid foundation of economic theory and empirical research. Students will not only leave the course with a firm understanding of natural resource economics, but they will also be exposed to a number of case studies showing how underlying economic principles provided the foundation for specific natural resource policies. This key text highlights what insights can be derived from the actual experience.</p><p>Key features include:</p><ul> <li>Extensive coverage of the major issues, including energy, recyclable resources, water policy, land conservation and management, forests, fisheries, other ecosystems, and sustainable development</li> <li>Introductions to the theory and method of natural resource economics, including externalities, experimental and behavioral economics, benefit-cost analysis, and methods for valuing the services provided by the environment</li> <li>Boxed "Examples" and "Debates" throughout the text, which highlight global cases and major talking points.</li> </ul><p>This second edition provides updated data, new studies, and more international examples. There is a considerable amount of new material, with a deeper focus on climate change. The text is fully supported with end-of-chapter summaries, discussion questions, and self-test exercises in the book, as well as a suite of supplementary digital resources, including multiple-choice questions, simulations, references, slides, and an instructor’s manual. It is adapted from the 12th edition of the best-selling <i>Environmental and Natural Resource Economics</i> textbook by the same authors.</p> <p>Preface. An Overview of the Book. Acknowledgements. PART I: INTRODUCTION TO THE FIELD OF NATURAL RESOURCE ECONOMICS 1. Visions of the Future 2. The Economic Approach: Property Rights, Externalities, and Environmental Problems 3. Evaluating Trade-Offs: Benefit-Cost Analysis and Other Decision-Making Metrics 4. Valuing the Environment: Methods 5. Ecosystem Services: Nature’s Threatened Bounty 6. Dynamic Efficiency and Sustainable Development 7. Depletable Resource Allocation Over Time: The Role of Longer Time Horizons, Substitutes and Extraction Cost 8. Common-Pool Resources: Commercially Valuable Fisheries 9. Forests: Storable, Renewable Resources 10. Land: A Locationally Fixed, Multipurpose Resource PART II: NATURAL RESOURCE ECONOMICS AND CLIMATE CHANGE 11. Climate Change: The Role of Energy Policy 12. Climate Change: Adaptation: Floods, Wildfires, and Water Scarcity 13. Sustainable Development: Meeting the Challenge. Answers to Self-Test Exercises. Glossary. Index.</p>