Description:

The book, in its third edition, offers a comprehensive and coherent discussion of environmental economics, combining various issues, concepts, and theories from mainstream neoclassical economics. It examines the interdependence of economics and the environment using the material balance model and the nature of environmental problems. The book then focuses on applying mainstream economics theories to analyse and describe environmental issues, including market failure, externality, welfare, and decision-making in the context of ecosystem services and biodiversity. It also provides a grounding in the economics of renewable and non-renewable natural resources, its degradation and depletion followed by the economic valuation of environmental resources. Highlighting the importance of understanding population dynamics and its relationship with economic development finally culminate in the chapter on important national and international direction of building a sustainable environment with the practice of sustainable development goals.

The book is primarily designed for the undergraduate and postgraduate students of economics.

NEW TO THIS EDITION

• The title of the book has been updated to accurately reflect its focus.

• The chapters have been revised to include the latest information and important updates.

• Concepts are presented in a narrative style to enhance comprehension and retention.

• Incorporates carefully selected examples from everyday life for better comprehension.

• New chapters on "Economics of Ecosystem Services," "Biodiversity," "Economics of Natural Resources," and "Sustainable Development Goals" have been incorporated.

KEY FEATURES

• Relates real-world environmental issues to enhance comprehension of theoretical concepts.

• Provides web links to referenced materials for additional student reading and exploration.

• Offers assignment prompts to encourage independent study and research.

• Establishes connections between concepts and key authors in the field.

• Includes a comprehensive glossary of key terms to support clear understanding.

TARGET AUDIENCE

• B.A./B.Sc. Economics

• M.A./M.Sc. Economics