Water Resource Economics: The Analysis of Scarcity, Policies, and Projects / Edition 1

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Overview

Economics brings powerful insights to water management, but most water professionals receive limited training in it. This text offers a comprehensive development of water resource economics that is accessible to engineers and natural scientists as well as economists. The goal is to build a practical platform for understanding and performing economic analysis using both theoretical and empirical tools. The mathematics needed to understand the subjects covered in this text include basic optimization methods and integral calculus. Familiarity with microeconomics or natural resource economics is helpful, but all the economics needed is presented and developed progressively in the text. Many water-based example calculations are included. Thus the book can be used for independent study as well as course work.The book focuses on the scarcity of water quantity (rather than water quality). The author presents the economic theory of resource allocation,recognizing the peculiarities imposed by water, and expands the theory to encompass time-defined matters such as ground water depletion. He then discusses such subjects as institutional economics,water law, how economics is used in policy and cost-benefit analysis, the roles of water marketing and water pricing, demand and supply estimation, privatization, and modeling with demand and supply functions. As an aid to readers with specific interests, references to recent literature are given for all of these topics. Each chapter ends with a summary and exercises. All graphic portrayals of economic theory and most calculations are performed using Mathematica software. These programs are downloadable, but their use is entirely optional.

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What People Are Saying

From the Publisher
"Griffin has succeeded in producing something rare: an economics textbook that is both comprehensive in its topical coverage *and* lively enough to engage non-economists! Sound mathematical/graphical treatment of key subjects, yet easy-to-follow prose: this book ought to be required reading not only for students of water resource economics but for public officials and water agency staff worldwide."—Bonnie Colby, Professor, Departments of Agricultural & ResourceEconomics and Hydrology, University of Arizona

"Griffin's wonderful text provides balanced and insightful coverage of the economics and management of water resources. He guides the reader through the fascinating world of water institutions, using economic theory to shed light on private choices, market outcomes, and policy design. The book can be the main text for a intermediate course in water economics or even natural resources. I recommend it strongly."—David Zilberman, Department of Agricultural & ResourceEconomics, University of California, BerkeleyPlease note: Arrived too late to appear on book jacket.

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Product Details

  • ISBN-13: 9780262072670
  • Publisher: MIT Press
  • Publication date: 1/1/2006
  • Edition description: New Edition
  • Edition number: 1
  • Pages: 432
  • Product dimensions: 7.00 (w) x 9.00 (h) x 1.00 (d)

Meet the Author

Ronald C. Griffin is Professor, Department of Agricultural Economics, Texas A&MUniversity.

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Table of Contents

1 Introduction 1
2 Optimal allocation and development 11
3 Efficiency in a dynamic world 63
4 Social institutions 99
5 Policy analysis 145
6 Cost-benefit analysis 175
7 Water marketing 203
8 Water pricing 243
9 Demand analysis 273
10 Supply analysis 323
11 Modeling with demand and supply 349
12 The water challenge 369
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