Great Plains Studies, Center for


Date of this Version

Spring 1999


Published in Great Plains Research 9 (Spring 1999). Copyright © 1999 The Center for Great Plains Studies, University of Nebraska–Lincoln. Used by permission.


This upper-division or beginning graduate-level text addresses the economics of a broad range of natural resource and environmental issues in a style suitable for a wide range of students interested in natural resource policy. Economics students will find the subject matter a bit easier to grasp than biologists, engineers, or political scientists, but it should pose no problem for anyone who has taken a course in micro-economics and perhaps knows a bit of differential calculus.

The book's content and organization are somewhat different from most texts in resource economics. There is greater emphasis here on the economic concepts associated with all dimensions of natural resource management, but this comes at the expense of examples and a sufficient emphasis on the practical aspects of empirical analysis. There are also a few organizational anomalies that may be inconsistent with the way resource economics is often taught. The most notable is Prato's decision to treat property rights and market failure as a distinctly separate topic in chapter 5 rather than an integral part of the economic conceptual framework described in chapter 2.