Environmental issues are of fundamental importance, and a broad approach to understanding the relationship of the human economy and the natural world is essential. In a rapidly changing policy and scientific context, this new edition of Environmental and Natural Resource Economics reflects an updated perspective on modern environmental topics. Now in its fourth edition, this book includes new material on climate change, the cost-competitiveness of renewable energy, global environmental trends, and sustainable economies. The text provides a balanced treatment of both standard environmental economics and ecological economics, based on the belief that these two approaches are complementary. Several chapters focus on the core concepts of environmental economics, including the theory of externalities, the management of public goods, the allocation of resources across time, environmental valuation, and cost-benefit analysis. Material on ecological economics includes such topics as macroeconomic scale, entropy, and "green" national accounting. Topical chapters focus on: energy; climate change; water resources; international trade; forests; fisheries; and agriculture, with an emphasis on designing effective policies to promote sustainability and a "green" economy. Harris and Roach’s premise is that a pluralistic approach is essential to understand the complex nexus between the economy and the environment. This perspective, combined with its emphasis on real-world policies, is particularly appealing to both instructors and students. This is the ideal text for classes on environmental, natural resource, and ecological economics. The book's companion website is available at: http://www.bu.edu/eci/education-materials/textbooks/environmental-and-natural-resource-economics/

Table of Contents:
PART ONE INTRODUCTION: THE ECONOMY AND THE ENVIRONMENT Chapter 1: Changing Perspectives on the Environment 1. Overview of Environmental Issues 2. Economic Approaches to the Environment 3. Principles of Ecological Economics 4. A Look Ahead Chapter 2: Resources, Environment, and Economic Development 1. Overview of Economic Growth 2. Economic Growth in Recent Decades 3. Environmental Trends in Recent Decades 4. Optimists and Pessimists 5. Sustainable Development PART TWO ECONOMIC ANALYSIS OF ENVIRONMENTAL ISSUES Chapter 3: The Theory of Environmental Externalities 1. The Theory of Externalities 2. Welfare Analysis of Externalities 3. Property Rights and the Environment Appendix 3.1: Supply, Demand, and Welfare Analysis Appendix 3.2: Externality Analysis: Advanced Material Chapter 4: Common Property Resources and Public Goods 1. Common Property, Open Access, and Property Rights 2. The Environment as a Public Good 3. The Global Commons Chapter 5: Resource Allocation Over Time 1. Allocation of Non-Renewable Resources 2. Hotelling’s Rule and Time Discounting Chapter 6: Valuing the Environment 1. Total Economic Value 2. Overview of Valuation Techniques 3. Revealed Preference Methods 4. Stated Preference Methods Chapter 7: Cost-Benefit Analysis Overview of Cost-Benefit Analysis Balancing the Present and Future: The Discount Rate Valuing Human Life Other Issues in Cost-Benefit Analysis Cost-Benefit Analysis Example Conclusion: The Role of Cost-Benefit Analysis in Environmental Policy Decisions Appendix 7.1: Using Excel to Perform Present Value Calculations Chapter 8: Pollution: Analysis and Policy 1. The Economics of Pollution Control 2. Policies for Pollution Control 3. The Scale of Pollution Impacts 4. Assessing Pollution Control Policies 5. Pollution Control Policies in Practice PART THREE ECOLOGICAL ECONOMICS AND ENVIRONMENTAL ACCOUNTING Chapter 9: Ecological Economics: Basic Concepts An Ecological Perspective Natural Capital Issues of Macroeconomic Scale Long-Term Sustainability Chapter 10: National Income and Environmental Accounting 1. Greening the National Income Accounts 2. Green GDP 3. Adjusted Net Saving 4. The Genuine Progress Indicator 5. The Human Development Index and the Better Life Index 6. Environmental Asset Accounts 7. The Future of Alternative Indicators Appendix 10.1: Basic National Income Accounting PART FOUR ENERGY, CLIMATE CHANGE, AND GREENING THE ECONOMY Chapter 11: Energy: The Great Transition 1. Energy and Economic Systems 2. Evaluation of Energy Sources 3. Energy Trends and Projections 4. Energy Supplies: Fossil Fuels 5. Renewable Energy Sources 6. The Economics of Alternative Energy Futures 7. Policies for the Great Energy Transition Chapter 12: Global Climate Change: Science and Analysis 1. Causes and Consequences of Climate Change 2. Responses to Global Climate Change 3. Economic Analysis of Climate Change Chapter 13: Global Climate Change: Policy Responses 1. Adaptation and Mitigation 2. Climate Change Mitigation: Economic Policy Options 3. Climate Change: The Technical Challenge 4. Climate Change Policy in Practice 5. Other Economic Proposals: Environment and Equity 6. Conclusion: Dimensions of Climate Change Chapter 14: The Green Economy 1. The Green Economy: Introduction 2. The Relationship between the Economy and the Environment 3. Industrial Ecology 4. Does Protecting the Environment Harm the Economy? 5. Creating a Green Economy PART FIVE POPULATION, AGRICULTURE, AND RESOURCES Chapter 15: Population and the Environment 1. The Dynamics of Population Growth 2. Predicting Future Population Growth 3. The Theory of Demographic Transition 4. Population Growth and Economic Growth 5. Ecological Perspectives on Population Growth 6. Population Policies for the Twenty-First Century Chapter 16: Agriculture, Food and Environment 1. Feeding the World: Population and Food Supply 2. Trends in Global Food Production 3. Projections for the Future 4. Agriculture’s Impact on the Environment 5. Sustainable Agriculture for the Future Chapter 17: Resources: Scarcity and Abundance 1. The Supply of Non-Renewable Resources 2. Economic Theory of Non-Renewable Resource Use 3. Global Scarcity or Increasing Abundance? 4. Environmental Impacts of Mining 5. The Potential for Minerals Recycling Chapter 18: Renewable Resource Use – Fisheries 1. Principles of Renewable Resource Management 2. Ecological and Economic Analyses of Fisheries 3. The Economics of Fisheries in Practice 4. Policies for Sustainable Fisheries Management Chapter 19: Ecosystem Management – Forest Ecosystems 1. The Economics of Forest Management 2. Forest Loss and Biodiversity 3. Policies for Sustainable Forest Management Chapter 20: Water Systems 1. Global Supply and Demand for Water 2. Addressing Water Shortages 3. Water Pricing 4. Water Rights, Water Markets, and Privatization 5. Water as Common Property Resource PART SIX ENVIRONMENT, TRADE, AND DEVELOPMENT Chapter 21: World Trade and the Environment 1. Environmental Impacts of Trade 2. Trade and Environment: Policy and Practice 3. Trade Agreements and the Environment 4. Strategies for Sustainable Trade Chapter 22: Institutions for Sustainable Development 1. The Concept of Sustainable Development 2. The Economics of Sustainable Development 3. Reforming Global Institutions 4. New Goals and New Production Methods 5. Conclusion: Policies for Sustainable Development