Decisions about the conservation and use of natural resources are made every day by individuals, communities, and nations. The latest edition of Field’s acclaimed text highlights the incentives and trade-offs embedded in such decisions, providing a lucid introduction to natural resource issues using the analytical framework of economics. Employing a logical structure and easy-to-understand descriptions, Field covers fundamental economic principles and their general application to natural resource use. These principles are further developed in chapters devoted to specific resources. Moreover, this up-to-date volume addresses the challenge of achieving socially beneficial utilization rates in the twenty-first century amid continuing population growth, urbanization, and global climate change.