The major elements of environmental economics are clearly described and illustrated for the noneconomist in this timely work. Business practitioners, environmental scientists, planners and engineers, and students will gain a broad understanding of what economics may contribute to environmental assessment and decisionmaking. The presentation is largely nonmathematical. Emphasizing critical assumptions and intuitive logic, this overview of the theoretical foundations allows readers from a variety of backgrounds to develop and apply tools needed to function effectively in the increasingly important field of environmental management. In addition, this book is appropriate for one- and two-semester courses and professional development programs.