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"Modern society is currently facing a cascade of environmental crises. Moving forward, it will be the job of current and future generations to develop sound and creative approaches to addressing them. This book attempts to provide insight into the ways in which society can confront modern agricultural, environmental, and resource challenges. In particular, it provides an economic lens with which to examine and confront these issues. The first part of the book introduces a general economic framework that can be used to analyze these issues. Subsequent chapters rely on this framework to introduce and explain specific concepts in agricultural, environmental, and resource economics, including (but not limited to) non-renewable and renewable resource management, pesticide use, and climate change. The book develops quantitative tools that the readership can use to analyze and better understand the complexities of these challenges. Each chapter includes specific applications, and an accompanying Appendix includes a longer list of practice problems that can be brought into courses as exercises."

The robustness of alternative development strategies in responding to trade disruptions is investigated by applying the techniques of stochastic control to a computable general equilibrium model of Turkey. Three different objective functions -- growth, stabilization, & income distribution equalization -- & three different development strategies -- export expansion, agricultural development-led industrialization, & import-substitution -- are analyzed. Devaluation & tariff increases were found to be optimal responses to trade shocks independent of strategy or objective. Uniform adjustments were not optimal, but should be sectorally differentiated & shock- & objective-specific. Optimal responses tended to spread the adjustment process across instruments & time & required smaller changes than found in adjustment policies of the real world. Per capita household income was found to bear the brunt of the adjustment process under all strategies & objectives. The growth objective was the easiest to achieve while the income distribution objective required constant intervention. Strategy- & objective-specific generalizations are discussed. 6 Tables, 1 Appendix, 34 References. Adapted from the source document.