Natural Resource Economics: The Essentials offers a policy-oriented approach to the increasingly influential field of natural resource economics that is based upon a solid foundation of economic theory and empirical research. This second edition provides updated data, new studies, and more international examples.

Preface. An Overview of the Book. Acknowledgements. PART I: INTRODUCTION TO THE FIELD OF 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. Ecosystem Services: Nature's Threatened Bounty 6. Dynamic Efficiency and Sustainable Development 7. Depletable Resource allocation Over Time: The Role of Longer Time Horizons, Substitutes and Extraction Cost 8. Common-Pool Resources: Commercially Valuable Fisheries 9. Forests: Storable, Renewable Resources 10. Land: A Locationally Fixed, Multipurpose Resource PART II: NATURAL RESOURCE ECONOMICS AND CLIMATE CHANGE 11. Climate Change: The Role of Energy Policy 12. Climate Change: Adaptation: Floods, Wildfires, and Water Scarcity 13. Sustainable Development: Meeting the Challenge. Answers to Self-Test Exercises. Glossary. Index.