This important book deals with the essential principles of resource and environmental economics, provides applications to contemporary issues in this field, and outlines and assesses policies being used or proposed for managing the use of environmental and natural resources. Covering specific contemporary topics such as agriculture and the environment, water use, greenhouse gas management, biodiversity conservation, tourism and the environment, and environmental economics and health, leading issues in resource and environmental economics are outlined and analyzed in an innovative manner. Institutional economics (both new and traditional) is applied and compared with other approaches such as neoclassical economics, behavioral economics and the Austrian School of Economics. This heterogeneous, multi-perspective approach enables problems to be considered from several different angles, thus enhancing the reader’s comprehension of the subject matter. Furthermore, using minimal technical jargon, the book takes into account aspects of modern economic analysis such as the costs of and constraints on decision-making and the transaction costs involved in policy implementation.Key Features• Each chapter contains a list of keywords and a series of questions for review and discussion purposes. They provide food for thought and are designed to encourage independent thinking• Extensive use is made of figures (diagrams) to improve the comprehension of subjects. These figures are now available in color in the e-book and this is a further aid to comprehension• The coverage of material in this book includes several original concepts and ideas, is constructively critical of existing theories and points of view, and highlights the fact that different relevant points of view exist. Many texts do not do this and are therefore, intellectually wanting and superficial in their content• The coverage of topics in this edition is up to date and reflects changing major issues, trends and concerns• Where appropriate issues and ideas are placed in their historical context. Ideas and issues do not arise in a historical vacuum. Many texts fail to take historical connections into account• Material is extensively referenced and suggestions are made for further reading. This book may also be used for reference and research purposes. It includes study materials. Therefore, this book can be used for multiple purposes• Chapters and most sections of chapters have been designed so they can be read independently. This makes for flexibility in using this book

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