• Summary
  • Contents
  • Subject index

Interest in economics is at an all-time high. Among the challenges facing the nation is an economy with rapidly rising unemployment, failures of major businesses and industries, and continued dependence on oil with its wildly fluctuating price. Economists have dealt with such questions for generations, but they have taken on new meaning and significance.Tackling these questions and encompassing analysis of traditional economic theory and topics as well as those that economists have only more recently addressed, 21st Century Economics: A Reference Handbook is a must-have reference resource.Key FeaturesProvides highly readable summaries of theory and models in key areas of micro and macroeconomics, helpful for students trying to get a "big picture" sense of the fieldIncludes introductions to relevant theory as well as empirical evidence, useful ...

Economics of Wildlife Protection
Economics of wildlife protection

Economics arrived late to wildlife protection. Although optimal timber harvest rates were first described by Martin Faustmann in 1849, and although Harold Hotelling had defined the parameters for profit-maximizing extraction of exhaustible resources like coal and petroleum by 1931, the problem of wildlife protection was ignored by the discipline until 1951. That year, Charles Stoddard (1951), a consulting forester working out of Minong, Wisconsin, urged fellow attendees at the North American Wildlife Conference to address the nation's “steady deterioration of wildlife habitat ” with “an intensive development of a branch of knowledge devoted to the economics of wildlife management” (p. 248). The problem, according to Stoddard, was that wildlife production on private lands competed with more remunerative sources ...

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