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Paperback $30.00 ISBN: 9781559633130 Published March 2005

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Ecological Economics

Principles And Applications

 Ecological Economics
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Herman E. Daly and Joshua Farley

120 pages | 7 x 10

Conventional economics is often criticized for failing to reflect adequately the value of clean air and water, species diversity, and social and generational equity. By excluding biophysical and social systems from their analyses, many conventional economists overlook problems of the increasing scale of human impacts and the inequitable distribution of resources.

Ecological Economics is an introductory-level textbook for an emerging paradigm that addresses this flaw in much economic thought. The book defines a revolutionary "transdiscipline" that incorporates insights from the biological, physical, and social sciences, and it offers a pedagogically complete examination of this exciting new field. It provides students with a foundation in traditional neoclassical economic thought, but places that foundation within a new interdisciplinary framework that embraces the linkages among economic growth, environmental degradation, and social inequity.

Introducing the three core issues that are the focus of the new transdiscipline -- scale, distribution, and efficiency -- the book is guided by the fundamental question, often assumed but rarely spoken in traditional texts: What is really important to us? After explaining the key roles played by the earth's biotic and abiotic resources in sustaining life, the text is then organized around the main fields in traditional economics: microeconomics, macroeconomics, and international economics. The book also takes an additional step of considering the policy implications of this line of thinking.

Ecological Economics includes numerous features that make it accessible to a wide range of students:

  • more than thirty text boxes that highlight issues of special importance to students
  • lists of key terms that help students organize the main points in each chapter
  • concise definitions of new terms that are highlighted in the text for easy reference
  • study questions that encourage student exploration beyond the text
  • glossary and list of further readings

An accompanying workbook presents an innovative, applied problem-based learning approach to teaching economics.

While many books have been written on ecological economics, and several textbooks describe basic concepts of the field, this is the only stand-alone textbook that offers a complete explanation of both theory and practice. It will serve an important role in educating a new generation of economists and is an invaluable new text for undergraduate and graduate courses in ecological economics, environmental economics, development economics, human ecology, environmental studies, sustainability science, and community development.

PART I - An Introduction to Ecological Economics

Chapter 1 Why Study Economics?

Chapter 2 The Fundamental Vision

Chapter 3 Ends, Means, and Policy

PART II - The Containing and Sustaining
Ecosystem: The Whole

Chapter 4 The Nature of Resources and the Resources of Nature

Chapter 5 Abiotic Resources

Chapter 6 Biotic Resources

Chapter 7 From Empty World to Full World

PART III - Microeconomics

Chapter 8 The Basic Market Equation

Chapter 9 Supply and Demand

Chapter 10 Market Failures

Chapter 11 Market Failures and Abiotic Resources

Chapter 12 Market Failures and Biotic Resources

PART IV - Macroeconomics

Chapter 13 Macroeconomic Concepts: GNP and Welfare

Chapter 14 Money

Chapter 15 Distribution

Chapter 16 The IS-LM Model

Chapter 17 International Trade

Chapter 18 Globalization

Chapter 19 International Flows and Macroeconomic Policy

PART VI - Policy

Chapter 20 General Policy Design Principles

Chapter 21 Sustainable Scale

Chapter 22 Just Distribution

Chapter 23 Efficient Allocation

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