Environmental Economics: Concepts, Methods and Policies, second edition, draws on the salience of the laws of thermodynamics and principles of ecology and illustrates how concepts and methods in economics need to be revised for policy analysis. Conceptual premises advanced in the text are supported by empirical evidence and illustrations.
This extensively revised new edition has been structured into five parts. The text begins with a list of environmental issues and challenges and concludes with a list of policies to deal with these challenges. Part I aims to give readers an appreciation of environmental challenges and the linkages between the environment and the economy. These linkages are examined by recourse to concepts in environmental science. The implications of these environment-economy linkages are then considered within the frameworks of microeconomics in Part II and those of macroeconomics in Part III. Part IV considers the valuation of environmental goods and services at the microeconomic level and the macroeconomic level. The policy implications that stem from the preceding chapters form Part V.
Unlike most standard texts in environmental economics, this text contains a clearly developed section on Environmental-Macroeconomics. This section illustrates how standard approaches in macroeconomics and trade when revised to the reality of nature-capital would lead to significantly distinct policy outcomes.
Part 1 The Environment and the Economy
1 The Environment and Economics
2 The Economic System Revised
Part 2 Microeconomics and the Environment
3 The Market Model and its Failure
4 Public Goods and Externalities
5 Economics of Non-Renewable and Renewable Resources
6 Economics of Non-Renewable Resources with Renewable Services
7 Consumer Demand and the Environment
8 Production, Costs, Supply and the Environment
9 Market Organisation and the Environment
Part 3 Macroeconomics and the Environment
10 Some Important Concepts in Macroeconomics
11 Environmental Capital: Investment and Depreciation
12 Environmental Macroeconomics: Short-Run Analysis I
13 Environmental Macroeconomics: Short-Run Analysis II
14 Environmental Macroeconomics: Long-Run Analysis
15 International Trade and Globalisation
Part 4 Valuation
16 Valuation of Environmental Capital: Microeconomic Basis
17 Valuation of Environmental Capital: Macroeconomic Basis
Part 5 Policy
18 Environmental Policies
Professor Dodo Thampapillai teaches economics at the Lee Kuan Yew School of Public Policy, National University of Singapore. He also holds an Adjunct Professorship at Macquarie University, where he was awarded a Personal Chair in Environmental Economics in 2001. Dodo was awarded the DFG Professorship (University of Kiel, Germany 1999/2000) and SLU visiting Professorship (Sweden, 1999/2000).
Jack A. Sinden is Adjunct Associate Professor at the UNE Business School, University of New England, New South Wales, Australia. He has held visiting positions at Oregon State University, the University of Arizona, the University of Agriculture, Faisalabad, Pakistan, and twice at Yale University. He has received two teaching awards from the University of New England for his units on Environmental Economics.