1st Edition

Economics for Environmental Professionals

By Frank R. Spellman Copyright 2015
    575 Pages 38 B/W Illustrations
    by CRC Press

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    Environmental professionals are often called upon to find solutions to environmental degradation problems or to lead the way in planning to prevent them. Because they come mainly from the environmental and science disciplines, most environmental professionals have limited training in the fundamentals of economics. This book is designed to provide those professionals not only with the basic principles of economics for foundational purposes but also the economic pros and cons to consider when making critical decisions on environmental issues.

    Economics for Environmental Professionals provides a fully explanatory, quantitative, and practical introduction to a wide range of topics that make up the science of environmental economics. Moreover, it showcases the power of economic principles to explain and predict issues and current events impacting the environment. It discusses the economics relevant to the environmental mediums of air, water, and land and provides pertinent information on air toxics, hazardous wastes, and other related topics. It provides environmental professionals with the education not only to understand the nuts and bolts of economic analysis but also to conduct economic analyses.

    Throughout the book, the author joins economics and environmental practice with common-sense approaches and practical real-world examples. Designed to stimulate thought, the book explores strategies for maintaining a safe environment without excessive regulation and cost. With the information in this book, environmental professionals will have an understanding of the framework in which environmental problems exist, what they cost, how to pay for them, and what the payback is (if any).


    What Is Environmental Economics?
    Why Study Environmental Economics?
    Unique Aspects and Concepts
    Economic Development and Environmental Quality
    Sustainable Development
    Biodiversity and Economics
    Thought-Provoking Questions
    References and Recommended Reading

    Environmental Econometrics
    Environmental Practice and Economics
    Interest Rate
    Simple Interest
    Compound Interest
    Time Value of Money
    Capital-Recovery Factor (Equal-Payment Series)
    Uniform Series Present Worth (Value) Factor
    Future Value
    Annual Payment (Uniform Series Sinking Fund)
    Present Value Basics
    Present Value of Future Dollar Amount
    Future Value of a Present Amount
    Review Questions
    Answers to Chapter Review Questions
    References and Recommended Reading

    Energy Units and Math Operations
    Economic Perspectives on Energy
    About Energy
    Clean Energy Parameters and Calculations
    Thought-Provoking Questions
    References and Recommended Reading

    Cost-Benefit Analysis

    Intergenerational Equity and Sustainability
    Social Discounting
    What Are Costs and Benefits?
    Framing a Cost-Benefit Analysis
    Thought-Provoking Questions
    References and Recommended Reading

    Economic Theory

    Market Economy
    Reasons for Market or Institutional Failure
    Cost-Benefit Analysis
    Measuring Economic Impacts
    Optimal Level of Regulation
    Thought-Provoking Questions
    References and Recommended Reading


    Regulatory Approaches to Pollution Control

    Role of Cost in Setting of Regulations
    Environmental Policy Options
    Market-Oriented Approaches
    Other Market-Oriented Hybrid Approaches
    Thought-Provoking Questions
    References and Recommended Reading


    Economics of Clean Air

    A Brief Sketch of the Science of Air
    "Revolutionary" Science
    Characteristics and Properties of the Components of Air
    Air for Combustion
    Air for Power
    The Atmosphere
    Earth’s Thin Skin
    Moisture in the Atmosphere
    Air Quality
    Air Quality Management
    Clean Air Act
    Clean Air Act Amendments
    Air Pollution
    Major Air Pollutants
    Benefits and Costs of CAA
    Trading in Clean Air Act Programs
    Thought-Provoking Questions
    References and Recommended Reading

    Economics of Clean Water

    General Economic Concepts
    Water Use and Availability
    Water Quality Trading
    Thought-Provoking Questions
    References and Recommended Reading

    Soil Quality Economics

    Soil Basics
    Soil: What Is It?
    Soil Formation
    Soil Characterization
    Soil Mechanics and Physics
    Solid Waste Regulatory History in the United States
    Solid Waste Characteristics
    Sources of Municipal Solid Wastes
    The Bottom Line on Soil Basics
    Maintaining Soil Quality: An Economic View
    Major Considerations for Evaluating Land Cleanup and Reuse
    Benefits of Land Cleanup and Reuse
    Cost of Land Cleanup and Reuse
    Thought-Provoking Questions
    References and Recommended Reading


    Economic Contributions and Values of Conservation

    Conservation Economics
    Thought-Provoking Questions
    References and Recommended Reading



    Frank R. Spellman, PhD, is a retired assistant professor of environmental health at Old Dominion University, Norfolk, Virginia, and the author of more than 90 books covering topics ranging from concentrated animal feeding operations (CAFOs) to all areas of environmental science and occupational health. Dr. Spellman lectures on sewage treatment, water treatment, and homeland security, as well as on safety topics, throughout the country and teaches water/wastewater operator short courses at Virginia Tech in Blacksburg. He earned a BA in public administration, a BS in business management, an MBA, and both an MS and a PhD in environmental engineering.

    "…an excellent book for practitioners. … As the author notes, economics is terra incognita to most environmental professionals. Much to his credit, the author makes the subject understandable and shows its very practical applications. …this will be a welcome [addition] to the field."
    —Michael Curley, Environmental Law Institute