Preface -- Visions of the future -- The economic approach : property rights, externalities, and environmental problems -- Evaluating trade-offs : benefit-cost analysis and other decision-making metrics -- Valuing the environment : methods -- Dynamic efficiency and sustainable development -- Depletable resource allocation : the role of longer time horizons, substitutes, and extraction cost -- Energy : the transition from depletable to renewable resources -- Recyclable resources : minerals, paper, bottles, and e-waste -- Water : a confluence of renewable and depletable resources -- A locationally fixed, multipurpose resource : land -- Storable, renewable resources : forests -- Common-pool resources : commercially valuable fisheries -- Ecosystem goods and services : nature's threatened bounty -- Economics of pollution control : an overview -- Stationary-source local and regional air pollution -- Climate change -- Mobile-source air pollution -- Water pollution -- Toxic substances and environmental justice -- The quest for sustainable development -- Visions of the future revisited -- Answers to self-test exercises -- Glossary -- Name index -- Subject index