This book, now in its Second Edition, continues to provide a comprehensive and coherent discussion of environmental economics. The text begins with an overview of the interdependence of economics and the environment. It then focuses on the theories and concepts from mainstream economics and describes how they are applied to environmental issues. The book discusses in detail the issues of market failure, externality and welfare with regard to the environment. It also analyzes population dynamics and its relationship with the environment. The concepts and issues related to natural resources economics and valuation of environmental resources as important part of environmental economics have been dealt with. Finally, the book presents important national and international environmental issues and legislations.
The book is specially designed for the undergraduate and postgraduate students of economics.
NEW TO THIS EDITION
The most obvious change in this second edition is the new chapter entirely focusing on the interaction between economy and environment using the material balance model and examining the nature of environmental problems. It focuses on applying the principles of welfare economics to environment and its role in decision making relating to environmental resource use.