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This intermediate-level undergraduate textbook in environmental economics builds on the microeconomics courses students take in their first year. It intentionally does not survey the whole field or present every possible topic. Instead, there is a clear focus on the theory of environmental policy and its practical applications. Most of the applied parts of Environmental Economics: Theory and Policy deal with the economics of environmental policy in the European Union and in the United States.
Environmental Economics: Theory and Policy combines basic environmental economic analysis, such as the internalization of externalities, with recent developments in this field, including induced technical change and coalition theory. Moreover, topics from daily policy debates such as global warming are put into economic perspective. This is done in an intelligible form for advanced undergraduate students of economics, business administration and related fields. Each part of Environmental Economics: Theory and Policy contains a set of exercises and suggested solutions.
Part I. The Internalization of Externalities as Central Theme of Environmental Policy
2. Implications of making the concept of internalization programmatic in environment policy
Part II. Strategies for Internalizing Externalities
4. Environmental liability law
5. Pigovian tax
Part III. Standard-Oriented Instruments of Environmental Policy
7. Types of environmental policy instruments
8. Assessment of environmental policy instruments
Part IV. Extensions of the Basic Environmental-Economics Model
9. Environmental policy with pollutant interactions
10. Environmental policy with imperfect competition
11. Internalization negotiations with asymmetrical information
12. The 'double dividend' of the green tax
13. The induction of advances in environmental technology through environment policy
Part V. International Environmental Problems
15. International environmental agreements
16. Instruments of international environmental policy - the example of the EU's emissions trading
17. Epilogue: the vision of a federal US emission trading system
Part VI. Natural Resources and Sustainable Development
18. Resource exhaustion - the end of mankind?
19. Renewable resources
20. Sustainable development
Epilogue: three types of externality and the increasing difficulty of internalizing them
Alfred Endres is Full Professor of Economics at the University of Hagen, Germany, and Permanent Visiting Professor of Environmental Economics at the University of Witten/Herdecke, Germany. He has also taught at the Technical University of Berlin, Zhejiang University, Hangzhou, China, and the State University of New York, Buffalo. He held visiting appointments at the University of Florida and the University of California, San Diego. He is the author of 14 books on environmental economics, applied economics and microeconomics, primarily in German.
Professor Endres is a member of the review panel for the Swiss National Competence Center for Research on Climate Change and was a member of the Peer Review Committee for the Environmental Action Program of the European Union. He is the author of numerous articles in journals such as the Canadian Journal of Economics, the Journal of Environmental Economics and Management, the Journal of Industrial Economics, Public Choice and Environmental and Resource Economics.
"Professor Endres invites the reader to look deeply into the microeconomic underpinnings of environmental economics, and not merely accept concepts as established wisdom without close scrutiny. Students will appreciate the author's humorous, even playful treatment of the microeconomics of environmental policy choices."
- Robert T. Deacon, University of California, Santa Barbara
"In Environmental Economics Alfred Endres provides a brilliant overview of available instruments and mechanisms of environmental policy and critically discusses those from an economic perspective. A must for everyone interested in increasing the efficiency and effectiveness of environmental policy instruments!"
- Michael G. Faure, University of Maastricht and Erasmus University Rotterdam, the Netherlands
"This unique textbook, based on basic economic theory, not only opens the door to the research frontiers of environmental economics, but also guides us to the field of environmental policy applications. Readers will surely be excited by studying how an economic theory can be applied to an analysis of institutional policy tools for environmental protection, such as property rights or liability rules."
- Eiji Hosoda, Keio University, Japan
"This elegantly written book on environmental economics not only summarizes existing knowledge, but also provides a fresh look at the subject with new interpretations. Many exercises and examples of European, U.S., and international policy issues illustrate the value of theory and make the policy debate come alive. Alfred Endres's style of presentation makes reading enjoyable and fun, not only for students and scholars in economics but for those in other disciplines as well."
- Michael Finus, University of Exeter
"This is a wonderful textbook, combining the fundamentals of environmental economics with recent theoretical research, and applying it to the analysis of American and European environmental policy."
- Nadezda Pakhomova, St Petersburg State University
"This textbook offers students with basic knowledge of (micro) economics a deep understanding of basic and topical environmental issues and research results in an easily digestible format. The nontechnical yet sound presentation of methodology and theoretical principles, the discussion of solution concepts, and applications to practical problems are in perfect balance. The author succeeds in conveying his profound knowledge and insights in a stimulating way garnished with a pinch of humor."
- Rudiger Pethig, University of Siegen
"In this textbook Alfred Endres uses microeconomic methods to investigate environmental policy and pollution. It is a brilliantly written book, in which the latest theoretical and empirical research is considered. I recommend it to anyone who is interested in these environmental questions."
- Friedrich Schneider, Johannes Kepler University of Linz