Abstract
This chapter discusses teaching natural resource and environmental economics using theory and tools from the field of applied welfare economics. The author has found it useful and often enlightening to students to emphasize that the study of natural resource and environmental economics is ultimately about improving the well-being of people at the individual, local, state, national, and global levels. Thus, natural resource and environmental economics often involves exploring how individuals (including the students themselves) or societies (including the communities in which they live or will live) seek to increase social well-being subject to scarce natural resource and environmental goods and services. Natural resource and environmental economics also often involve evaluating the economic desirability of policy and management changes through decision making tools such as Benefit-Cost Analysis with theoretical underpinnings in applied welfare economics. In addition to discussing theory and tools from applied welfare economics, the chapter includes practical policy and management applications and illustrations which can be used in the classroom.
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