Environmental and Natural Resource Economics is one of the most widely used textbooks for environmental economics and natural resource economics courses, offering a policy-oriented approach and introducing economic theory and empirical work from the field. Students will develop a global perspective of both environmental and natural resource economics and how they interact.

This 12th 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 and coverage of COVID-19, social justice, and the circular economy.

Key features include:

• Extensive coverage of major contemporary issues including climate change, water and air pollution, resource allocation, biodiversity protection, sustainable development, and environmental justice.


• Four chapters specifically devoted to climate economics, including chapters on energy, climate mitigation, carbon pricing, and adaptation to climate change.


• Introductions to the theory and method of environmental economics, including externalities, benefit-cost analysis, valuation methods, and ecosystem goods and services and updates to the social cost of carbon.


• New examples and debates throughout the text, highlighting global cases and major talking points.

Environmental and Natural Resource Economics supports students with end-of-chapter summaries, discussion questions, exercises, and further reading in the book, and the companion website offers additional learning and teaching resources.