Resource Economics

An Economic Approach to Natural Resource and Environmental Policy, Fourth Edition

4th edition

John C. Bergstrom, Department of Agricultural and Applied Economics, University of Georgia and Alan Randall, The Ohio State University, US and The University of Sydney, Australia

Resource Economics engages students and practitioners in natural resource and environmental issues from both local and global standpoints. The fourth edition of this approachable but rigorous text provides a new focus on risk and uncertainty as well as new applications that address the effect of new energy technologies on scarcity and climate change mitigation and adaptation, while preserving and systematically updating the approach and key features that drew many thousands of readers to the first three editions.

‘I joined this amazing journey about 30 years ago. I benefited from all the theories, principles, and approaches offered in this book to explore the natural resource and environmental issues on the other side of the world. It makes me an enthusiastic and pragmatic teacher and researcher. In addition to rearranging and rewriting certain chapters, the fourth edition comprises new chapters on climate change which reflect our future challenges. Such knowledge deserves continuously passing to our future generations and equipping more students as an effective doer in resolving complex natural resources issues.’
– Pei-Ing Wu, National Taiwan University

“Bergstrom and Randall have produced another outstanding text covering the full range of issues in environmental and resource economics. Each revision of the book has successfully maintained the strengths of the previous (solid founding in economic theory, clear explanations of core concepts, and a focus on interesting policy) while updating the content to reflect changes and advances in the field. This text will be highly valuable in educating the next generation of students in fundamentals of resource economics.’
– Catherine Kling, Iowa State University, US

‘Resource Economics by Bergstrom and Randall is no ordinary read. It has all the standard features of textbooks such as plenty of graphs and a style of writing that is easy to follow and highly comprehensible. But it stands out by its comprehensive and in-depth coverage of a wide variety of topics and its firm grounding of their treatment in a general economic analytical approach. Both features make this an outstanding introduction to both resource and environmental economics broadly conceived.’
– Eric Neumayer, London School of Economics & Political Science, UK

‘The book is engagingly written with a broad worldview of the many environmental challenges facing the world and economic solutions for dealing with them. Besides being a comprehensive text about natural resource and environmental economics, a distinguishing feature of the book is how to actually perform policy relevant analyses to address natural resource and environmental problems.’
– John Loomis, Colorado State University, US