Resource Economics is a text for students with a background in calculus and intermediate microeconomics and a familiarity with the spreadsheet software Excel. The book covers basic concepts (Chapter 1), shows how to set up spreadsheets to solve simple dynamic allocation problems (Chapter 2), and presents economic models for fisheries, forestry, nonrenewable resources, and stock pollutants (Chapters 3–6). Chapter 7 examines the maximin utility criterion when the utility of a generation depends on consumption of a manufactured good, harvest from a renewable resource, and extraction from a nonrenewable resource. Within the text, numerical examples are posed and solved using Excel's Solver. Exercises are included at the end of each chapter. These problems help make concepts operational, develop economic intuition, and serve as a bridge to the study of real-world problems in resource management.

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. Students will not only leave the course with a firm understanding of natural resource economics, but they will also be exposed to a number of case studies showing how underlying economic principles provided the foundation for specific natural resource policies. This key text highlights what insights can be derived from the actual experience. Key features include: Extensive coverage of the major issues, including energy, recyclable resources, water policy, land conservation and management, forests, fisheries, other ecosystems, and sustainable development Introductions to the theory and method of natural resource economics, including externalities, experimental and behavioral economics, benefit-cost analysis, and methods for valuing the services provided by the environment Boxed "Examples" and "Debates" throughout the text, which highlight global cases and major talking points. This second 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. The text is fully supported with end-of-chapter summaries, discussion questions, and self-test exercises in the book, as well as a suite of supplementary digital resources, including multiple-choice questions, simulations, references, slides, and an instructor’s manual. It is adapted from the 12th edition of the best-selling Environmental and Natural Resource Economics textbook by the same authors.

What is Natural Resource Economics Natural resource economics is concerned with the supply and demand of the natural resources that are found on Earth, as well as their distribution. In the field of natural resource economics, one of the primary goals is to gain a deeper comprehension of the function that natural resources play in the economy. This is done with the intention of devising more sustainable approaches to the management of these resources, which will ensure that they are accessible to future generations. Resource economists are concerned with the study of the interactions that occur between economic and natural systems, with the intention of creating an economy that is both sustainable and efficient. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Natural resource economics Chapter 2: Metal Chapter 3: Metallurgy Chapter 4: Mining Chapter 5: Cast iron Chapter 6: Cupronickel Chapter 7: Group 7 element Chapter 8: Scrap Chapter 9: Ferroalloy Chapter 10: Mining in Japan Chapter 11: Resource Chapter 12: Deep sea mining Chapter 13: Peak copper Chapter 14: Mineral industry of Kazakhstan Chapter 15: Mining industry of Russia Chapter 16: Natural resources of India Chapter 17: Ferromanganese nodules Chapter 18: Cobalt Chapter 19: Peak minerals Chapter 20: Mining in North Korea Chapter 21: Critical Raw Materials Act (II) Answering the public top questions about natural resource economics. (III) Real world examples for the usage of natural resource economics in many fields. (IV) Rich glossary featuring over 1200 terms to unlock a comprehensive understanding of natural resource economics. (eBook only). Who will benefit Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of natural resource economics.

This volume was assembled by two of Dr. Wantrup's students as a complement to his textbook, Resource Conservation: Economics and Policies. Wantrup's ideas on conservation economics continued to evolve in ways that were never fully reflected in that text, and although for the student of natural resource economics it is still essential reading, to st

This textbook discusses environmental and natural resource economics. It presents foundational knowledge for applying economics to understand environmental economics as well as for managing environmental problems and optimizing the level of natural resource extraction. Environmental and Natural Resource Economics bridges knowledge between the major natural environmental issues and which economic policies could be applied for reducing human impacts on such issues. It is distinctive from other environmental economics textbooks by covering not only basic concepts introduced in environmental economics but also explains economic models developed in resource economics for optimizing the use of non-renewable and renewable resources for sustainability. This textbook will help students understand how to apply economics for utilizing policies to mitigate environmental issues caused from the output side of economic activities such as emitting pollutants or generating wastes and those derived from the input side such as natural resource extractions.

Updated edition of a comprehensive introduction to the economics of water management, with self-contained treatment of all necessary economic concepts. Economics brings powerful insights to water management, but most water professionals receive limited training in it. The second edition of this text offers a comprehensive development of water resource economics that is accessible to engineers and natural scientists as well as to economists. The goal is to build a practical platform for understanding and performing economic analysis using both theoretical and empirical tools. Familiarity with microeconomics or natural resource economics is helpful, but all the economics needed is presented and developed progressively in the text. The book focuses on the scarcity of water quantity (rather than on water quality). The author presents the economic theory of resource allocation, recognizing the peculiarities imposed by water, and then goes on to treat a range of subjects including conservation, groundwater depletion, water law, policy analysis, cost–benefit analysis, water marketing, privatization, and demand and supply estimation. Added features of this updated edition include a new chapter on water scarcity risk (with climate change and necessary risk tools introduced progressively) and new risk-attentive material elsewhere in the text; sharper treatment of block rates and pricing doctrine; expanded attention to contemporary literature and issues; and new appendixes on input–output analysis, water footprinting and virtual water, and cost allocation. Each chapter ends with a summary and exercises.

The current paradigm of forest economics is based on Faustmann Formulation (FF) of land expectation value proposed by Martin Faustmann. It was a great achievement by a forester to propose a formulation that captures some fundamental economic features of capital theory which. However, the followers of the FF approach have trapped themselves into the past, and have not shown any indication of economic acumen of the great Faustmann. This has resulted in a common problem in the current paradigm of forest economics, known as Faustmann Forest Resource Economics (FFRE), to prescribe the application of a single (FF) approach to all situations irrespective of the specific features of the situation. The current state of forest economics is similar to that of neoclassical economics, and is full of inefficiencies. In neoclassical economics, inefficiencies are due to its “locked-in” position in rational economic man, while in forest economics inefficiencies are due to its “locked-in” position in the FF. The focus of this volume is on the new paradigm of forest economics termed as Post-Faustmann Forest Resource Economics (PFFRE). The first chapter lays the foundation of the PFFRE, and presents the key distinctions between the FFRE and the PFFRE. The volume includes twelve other chapters that address issues related to forest economics from perspectives different than the FFRE. Chapter 2 to 6 are focused on issues related to human behavior that is different than the rational economic man, Chapter 7 and 8 on public choice theory, Chapter 9 and 10 on systems approaches, and Chapter 11 to 13 on incremental approaches to incorporate new features in the FFRE.

This volume celebrates the life and career of Gordon Rausser, pioneer and leader in natural resource economics, while critically overviewing the emerging literature in the field. As the chair of the Agriculture and Resource Economics department at UC Berkeley, Rausser led the transformation of the department from a traditional agricultural economics department to a diverse resource economics department addressing issues of agriculture, food, natural resources, environmental economics, energy, and development. This book builds on this theme, showcasing not only the scope of Rausser's work but also key developments in the field. The volume is organized into two parts. The first part speaks about the lessons of Gordon Rausser's career, in particular, his role as a leader in different spheres, his capacity to integrate teaching and entrepreneurship, and his impact on the world food system. The second part will address some of the significant developments in the field he contributed to and how it relates to his work. The chapters include contributions from modern leaders in the economics field and cover diverse topics from many subfields including public policy, public finance, law, econometrics, macroeconomics, and water resources. Providing an excellent reference, as well as a celebration of a pivotal figure in the field, this volume will be useful for practitioners and scholars in agricultural and resource economics, especially the many individuals familiar with Gordon Rausser and his career.

This book explores frontier work at the intersection of experimental and environmental economics. It focuses on improving benefit - cost analysis, which remains the hallmark of public policy decision-making around the globe. It also explores important aspects associated with optimal resource use and regulation of resources.