Subject(s): Natural resources. -- Environmental economics. -- Nature and significance of resource and governmental economics : Ecological economics, Natural resource for economic growth and scarcity, material vs non material goods for economic welfare -- Different types of approaches to environmental and resource economics : Neoclassical economics and environmental and resource economics, New institutional economics, Behavioural and Psychological economics, Game theory, Evolution, coevolution and limits to economic growth imposed by natural resources and environmental constraints -- Economic failure in using natural resource and the environment :Identifying economic failures and measuring economic loss, Pareto optimality, Market and economic failure, Environmental spillovers, Public goods, mixed goods and Quasi-public goods,Open access commodities and rivalry monopolies, Political and administrative mechanism and economic failures -- Property rights , laws markets and resource use -- Justice and economic efficiency, Private property rights and the efficient operation of market system, , Common property, Open access resource , taking of property rights and natural resource interests -- Regulating natural resource use and pollution emissions : Taxes or charges on pollution emissions and waste disposal, Income distribution, Government regulations