Environmental economics is concerned with the impact of economic activities on the environment, the significance of ecosystem to the economy, and suggests the appropriate ways of regulating economic activity, so that cosmic balance is achieved in the society. Environmental Economics can help us understand why many of the Earth's natural resources are under threat, and what we can do to address these threats. In recent years there has been growing concern about degradation and pollution of environment and climate change as they impact on future development of both the developing and developed countries. It is hoped that the present edition of this book will be beneficial to all concerned of the society, in general and students, lawyers, advocates, academicians, human rights institutions, researchers and NGOs working in economics field, in particular.