Includes bibliographical references and index.

Introduction: what is environmental economics all about? -- Environmental economics: foundational concepts, theories and perspectives -- The natural environment and the human economy : the neoclassical economic perspective -- The natural environment and the human economy : an ecological perspective -- Trade offs : economic activity versus environmental quality -- The environment : pollution control, policy instruments, valuation, and project evaluation -- The economic theory of pollution control : the optimal level of pollution -- The economics of environmental regulations : emission standards and effluent charges -- The economics of environmental regulation : transferable emission credits and the macroeconomic effects of environmental regulation -- Economic valuation of environmental goods and services -- Framework for the appraisal of environmental projects : cost-benefit analysis and others -- An emerging environmental reality -- The economics of climate change -- Limit to growth and sustainability in theory and practice -- Biophysical limits to economic growth : Malthusian perspectives -- Biophysical limits to economic growth : the neoclassical economic perspective -- The economics of sustainability -- Green accounting and alternative and alternative indicators of sustainability -- The business case for environmental sustainability -- Appendix A: Resource scarcity, economic efficiency and markets : how the invisible hand works -- Appendix B: The development of ecological economics: a brief historical sketch.

This text offers a systematic exposition of environmental and natural resource economics. It considers a variety of real world examples to illustrate the policy relevance and implications of key economic and ecological concepts.