Book Review 
Urban and Environmental Economics: An Introduction 
 
Graham Squires, Routledge, London, 2013, 214 pp. ISBN 978-0-415-61991-2 (pbk), ISBN 978-
0-415-61990-5 (hbk), ISBN 978-0-203-82599-0 (ebk), GBP29.99 (pbk) GBP 105.00 (hbk), 
USD49.95 (pbk), USD170.00 (hbk). 

 
 
Let me start by saying that I enjoyed Urban and Environmental Economics: An Introduction, 
although because it is packed by information on a wide range of topics it is not necessarily easy 
to read. It is also a very ambitious book in areas where most material seems written for 
underachievers. According to the publisher’s web site: 
 

Those new to, or preparing to join this industry must have an understanding of how their 
environmental responsibilities relate to their professional responsibilities in economic 
terms. 
 
Designed as an introductory textbook, Urban and Environmental Economics: An 
Introduction provides the background information from these disciplines to understand 
crucial tools and economic techniques. A broad range of theories of the natural and built 
environments and economics are explained, helping the reader develop a real 
understanding of the topics that influence this subject, such as: 
 
•the history of economic thought on the built environment 
•the economics of shared space in the built environment 
•cost-benefit analysis and discounting 
•macro-economic tools, measures, and policy 
•sustainable development 
•resource valuation. 

 
For a book of 214 pages these are very ambitious aims, with so many subjects that would seem 
to justify books on their own. To illustrate the breath of the content the chapter headings include 
Market Forces: Supply and Demand, The Built and Natural Environment According to 
Economists, Cost Benefit Analysis, Limits to Growth: Balancing Space and Resources, 
Macroeconomic Government Objectives and Policy, Environmental Resources and Use in 
Urban Space to mention just a selection.  
 
The inevitable outcomes of this kind of perspective are firstly that expositions are very compact 
and secondly, that there are many issues that could legitimately claim more space than they are 
given. Economic concepts like opportunity costs and supply and demand are discussed, but 
more for general knowledge than at a level where they may be used for analysis.  
 
On the other hand, providing this broad background serves to demonstrate the interconnection 
between subjects and the applicability of economic theory, and analytical techniques over a 
wide range of topics of real importance to current political choices and future living conditions. 
The book has the potential to make the reader interested in additional studies and points to the 
necessity of an economic framework for a meaningful analysis. It’s a good preparation for 
further studies. 
 
Because the treatment of the various issues in the book is so compact and the book covering so 
many areas, using it as a text would give a lot of freedom to select topics to deal with in a 

 



 

Australasian Journal of Construction Economics and Building 

Runeson, G (2013) Book review, Australasian Journal of Construction Economics and Building, 13 (4) 102-103  
 

103 

course. It would also require lectures or tutorials to expand on the selected topics, and to show 
how the theories and concepts can be used to deepen the analyse of these and other complex 
problems. 
 
In summary, the broad range of topics is both the strength and weakness of the book. For most 
purposes the strength outweighs any weakness for what is a very good introduction to the 
interactions between economics, the environment and the use of urban space. It is informative 
and the reader is likely to get interested in the problems, how they may be analysed and what 
may be solutions. As a textbook it provides opportunities for the lecturer to be selective and 
emphasise what he or she considers to be the main issues.  
 
Dr Göran Runeson  

University of Western Sydney, Australia