Economics of the Environment, TheInternational Edition
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The Economics of the Environment completely integrates economics and environmental issues, explaining how both market successes and failures affect the environment. This text also shows readers how to measure the value of environmental goods, the use of these measurements in weighing environmental costs against the benefits of economic activity, and the implementation of policies to correct market failures.
Chapter 1. Economics and the Environment
Chapter 2. Supply and Demand: Market Forces and the Environment
Chapter 3. Markets and Market Failure: A Cause of Environmental Degradation
Chapter 4. Consumer Behavior and the Environment
Chapter 5. Measuring Benefits to Consumers
Chapter 6. Revealed Preference
Chapter 7. Stated Preference Methods
Chapter 8. From Production to Pollution
Chapter 9. Production, Pollution, Output, and Prices
Chapter 10. Maximizing Net Benefits in the Presence of Externalities
Chapter 11. Private Markets and the Environment: The Coase Theorem
Chapter 12. Government Policies for Environmental Protection
Chapter 13. Enforcement and Political Economy
Chapter 14. The Time Factor: Discounting
Chapter 15. Benefit-Cost Analysis
Chapter 16. Nonrenewable Resource Management
Chapter 17. Renewable Resource Management
Chapter 18. Economic Growth and the Environment
Chapter 19. Sustainability
For undergraduate students with a background in either economics or environmental sciences.
Gain a deeper understanding of economics and the environment.
The Economics of the Environment completely integrates economics and environmental issues, explaining how both market successes and failures affect the environment. This text also shows students how to measure the value of environmental goods, the use of these measurements in weighing environmental costs against the benefits of economic activity, and the implementation of policies to correct market failures.
Offering insight in a way that gets students engaged—Key Features and Highlights:
- Accessible treatment of environmental economics using graphing tools.
- Reality-based cases, mostly numerical, that motivate the material in each chapter.
- Additional boxed examples of classic and contemporary environmental issues.
- Summaries of key lessons after major chapter—and chapter-ending—sections.
- Numerical and conceptual exercises in each chapter, and supplemental materials for instructors.
- Chapter 4 uses data on consumer tradeoffs between electricity and other goods based on a study of electricity prices in Montana.
- In Chapter 8, data on lettuce production using water and fertilizer motivate the study of isoquants.
- The discussion of nonrenewable resource management in Chapter 16 is based on exhaustible old-growth redwood trees.
- Chapter 17 uses research on the North Sea herring to explore management in fisheries.
Seeing the concepts from many angles—Multiple Examples. To help students see the concepts in several different situations, this text’s chapters include numerous boxed examples that apply the same concepts to completely new situations.
Solidifying knowledge—Concept Reinforcement. At the end of every chapter, students will find a higher-level set of lessons, as well as end-of-chapter exercises and qualitative questions.