Title Page -- Copyrights Page -- Table of Contents -- Preface -- Ch. 1: Introduction -- Economics and the Environment -- Global Climate Change -- Organization and Content of This Book -- What We Hope Readers Will Take Away from This Book -- Ch. 2: Economic Efficiency and Environmental Protection -- Economic Efficiency -- Efficiency and Environmental Policy -- Equating Benefits and Costs on the Margin -- Dynamic Efficiency and Environmental Policy -- Conclusion -- Ch. 3: The Benefits and Costs of -- Measuring Costs -- Evaluting Benefits -- Benefit-Cost Analysis -- Conclusion -- Ch. 4: The Efficiency of Markets -- Competitive Market Equilibriunm -- The Efficiency of Competitive Markets -- Conclusion -- Ch. 5: Market Failures in the Environmental Realm -- Externalities -- Public Goods -- The Tragedy of the Commons -- Conclusion -- Ch. 6: Managing Stocks: Natural Resources as Capital Assets -- Economic Scarcity -- Efficient Extraction in Two Periods -- A Closer Look at the Efficient Extraction Path -- The Critical Role of Property Rights -- Conclusion -- Ch. 7: Stocks that Grow: The Economics of Renewable Resource Management -- Economics of Forest Resources -- Fisheries -- Conclusion -- Appendix -- Ch. 8: Principles of Market-Based Environmental Policy -- The Coase Theorem -- The Array of Policy Instruments -- How Market-Based Policies Can Overcome Market Failure -- Is It Preferable to Set Prices or Quantities? -- Conclusion -- Ch. 9: The Case for Market-Based Instruments in the Real World -- Reducing Costs -- Promoting Technological Change -- Marked-Based Instruments for ManagingNatural Resources -- Other Considerations -- Conclusion -- Ch. 10: Market-Based Instruments in Practice -- The U.S. Sulfur Dioxide Market -- Individual Tradable Quotas for Fishing in New Zealand -- Municipal Water Pricing -- Water Quality Trading.

Waste Management: "Pay As You Throw" -- Habitat and Land Management -- Conclusion -- Ch. 11: Sustainability and Economic Growth -- Limits to Growth? -- Sustainability, In Economic Terms -- Keeping Track: Green Accounting -- Are Economic Growth and Sustainability Compatible? -- Conclusions -- Ch. 12: Conclusion -- What Does Economics Imply for Environmental Policy? -- The Roles of Firms, Consumers, and Governments -- Some Final Thoughts -- Discussion Questions -- References -- Further Reading -- Index.