Gain a practical, applied grounding in environmental economic theory that is understandable whether you have had minimal previous exposure to economics or have an advanced understanding. With a strong focus on policy and real-world issues, Callan/Thomas's ENVIRONMENTAL ECONOMICS AND MANAGEMENT: THEORY, POLICY AND APPLICATIONS, Fifth Edition, complements economic theory with timely, real-world applications for a clear perspective of the relationship between market activity and the environment. The book integrates a strong business perspective into the development of environmental decision-making--a vantage point often overlooked in other conventional approaches. You'll learn to use economic analytical tools, such as market models, benefit-cost analysis, and risk analysis, to assess environmental problems and to evaluate policy solutions.