12th Edition

Environmental and Natural Resource Economics

By Thomas Tietenberg, Lynne Lewis Copyright 2024
    612 Pages 53 B/W Illustrations
    by Routledge

    612 Pages 53 B/W Illustrations
    by Routledge

    Environmental and Natural Resource Economics is one of the most widely used textbooks for environmental economics and natural resource economics courses, offering a policy-oriented approach and introducing economic theory and empirical work from the field. Students will develop a global perspective of both environmental and natural resource economics and how they interact.

    This 12th edition provides updated data, new studies, and more international examples. There is a considerable amount of new material, with a deeper focus on climate change and coverage of COVID-19, social justice, and the circular economy.

    Key features include:

    • Extensive coverage of major contemporary issues including climate change, water and air pollution, resource allocation, biodiversity protection, sustainable development, and environmental justice.
    • Four chapters specifically devoted to climate economics, including chapters on energy, climate mitigation, carbon pricing, and adaptation to climate change.
    • Introductions to the theory and method of environmental economics, including externalities, benefit-cost analysis, valuation methods, and ecosystem goods and services and updates to the social cost of carbon.
    • New examples and debates throughout the text, highlighting global cases and major talking points.

    Environmental and Natural Resource Economics supports students with end-of-chapter summaries, discussion questions, exercises, and further reading in the book, and the companion website offers additional learning and teaching resources.

    Part I: Introduction to the Field of Environmental and Natural Resource Economics 1. Visions of the Future 2. The Economic Approach: Property Rights, Externalities, and Environmental Problems 3. Evaluating Trade-Offs: Benefit-Cost Analysis and Other Decision-Making Metrics 4. Valuing the Environment: Methods 5. Dynamic Efficiency and Sustainable Development 6. Depletable Resource Allocation: The Role of Longer Time Horizons, Substitutes and Extraction Cost Part II: Economics of Pollution Control 7. Economics of Pollution Control: An Overview 8. Stationary-Source Local and Regional Air Pollution 9. Water Pollution: Managing water quality for rivers, lakes, and oceans 10. Toxic Substances and Environmental Justice Part III: Climate Section 11. Climate Change I: The Nature of the Challenge 12. Climate Change II: The Role of Energy Policy 13. Climate Change III: Carbon Pricing 14. Climate Change IV: Adaptation – Floods, fires and water scarcity 15. Transportation: Managing congestion and pollution Part IV: Natural Resource Economics 16. Ecosystem Services: Nature’s Threatened Bounty 17. Common-Pool Resources: Commercially Valuable Fisheries 18. Forests: Storable, Renewable Resources 19. Land: A Locationally Fixed, Multipurpose Resource Part V: Sustainable Development 20. Sustainable Development: Meeting the Challenge End Matter: Answers to Self-Test Exercises Glossary Index


    Tom Tietenberg is the Mitchell Family Professor of Economics, Emeritus at Colby College, Maine, USA.

    Lynne Lewis is Elmer W. Campbell Professor of Economics at Bates College, Maine, USA.