The overall objective of this course is to provide students 
with conceptual insight, problem-solving skills, and general 
knowledge needed to better analyze and solve natural resource 
use issues and problems from an economic perspective which 
recognizes the important linkages between economic, 
environmental, and ethical systems. Applications we will 
discuss include exhaustible resource use, renewable resource 
use, land and water resources, environmental pollution, 
conservation, and investment and business concerns.

A specific objective of the course is to provide students with 
an overview and understanding of fundamental resource economics 
theory. A second specific objective is to provide instruction 
and experience in the application of resource theory to "real 
world problems." A third specific objective is to increase 
students' awareness and appreciation of the importance of 
resource use, allocation, and policy to public decision-makers, 
as well as private individuals and firms.

I.  Introduction
II.  Resource supply and scarcity
III. Economic efficiency
IV. Criteria for resource and environmental policy
V.  Market failure and inefficiency
VI. Benefit-cost analysis
VII. Optimal extraction of exhaustible resources
VIII. Optimal biological resource management
IX. Conservation, preservation and environmental ethics