Includes bibliographical references and index.

Introduction -- A mini-course in basic economic theory -- Valuation -- Institutions, property rights, and transaction costs -- Common-pool resources -- Public choice and the politics of environmental policy -- Population -- Fossil fuel energy -- Climate change -- Air and water quality -- Energy conservation and energy efficiency -- Renewable energy -- Agriculture -- Water resources -- Fisheries -- Forests and deforestation -- Wildlife, endangered species, and biodiversity -- Conclusion: Institutional environmental economics.

"Natural Resources and the Environment: Economics, Law, Politics, and Institutions provides a new approach to the study of environmental and natural resource economics. It augments current contributions from the fields of public choice, law and economics, and the burgeoning field of what used to be called the 'New Institutional Economics', to describe, explain, and interpret how these new developments have been applied to better understand the economics of natural resources and the environment. This textbook takes a multi-disciplinary approach, which is essential for understanding complex environmental problems, and examines the issue from not only an economic perspective, but also taking into account law, politics and institutions. In doing so, it provides students with a realistic understanding of how environmental policy is created and presents a comprehensive examination of real-world environmental policy. The book provides a comprehensive coverage of key issues, including renewable energy, climate change, agriculture, water resources, land conservation and fisheries, with each chapter accompanied by learning resources, such as recommended further reading, discussion questions and exercises. This textbook is essential reading for students and scholars seeking to build an interdisciplinary understanding of natural resources and the environment"-- Provided by publisher.