This book is designed to introduce students to key contemporary issues in environmental economics and equip them with tools and methodologies to analyse and address environmental problems in an economic framework. The book highlights the different trends emerged over the decades in the field of environment and development. It provides well-developed understanding of environmental and resource economics, its conceptual foundations and an ability to apply economic concepts and quantitative methods to the analysis, appraisal and valuation of a wide range of environmental problems and policies.