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The Economics of the Environment and Natural Resources

The Economics of the Environment and Natural Resources covers the essential topics students need to understand environmental and resource problems and their possible solutions. Its unique lecture format provides an in-depth exploration of discrete topics, ideal for upper-level undergraduate, graduate or doctoral study. Each chapter depicts the key theoretical insights, major issues, and real-life problems that motivate the subject. In addition, the chapters feature practical applications and case studies, a list of annotated further reading, and extensive references. Offers broad treatment of issues in Environmental and Resource Economics. Provides in-depth exploration of a wide range of topics with its unique lecture format. Depicts key theoretical insights, major issues, and real-life problems for each subject. Features case studies, annotated further reading, extensive references, and a detailed glossary.

Capital can appreciate by investments (including investments in the natural
capital stock) and can depreciate through production (output generation and
input use) as well as exogenous pollution effects (At). The firm maximizes profits
over ...