Course ID: | FANR(AAEC) 7860. 3 hours. |
Course Title: | Natural Resource and Environmental Economics I |
Course Description: | Economic and physical concepts of scarcity, the impact of market and social factors on resource use, and the optimal management of renewable and nonrenewable resources. |
Oasis Title: | N RES & ENV ECON I |
Duplicate Credit: | Not open to students with credit in FORS 7860 |
Prerequisite: | AAEC 6580-6580L or ECON 8000 |
Semester Course Offered: | Offered spring semester every odd-numbered year. |
Grading System: | A-F (Traditional) |
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Course Objectives: | The objective of this course is to provide the foundation and
basic analytical skills necessary for evaluating resource policy
and use alternatives. At the end of the class, you will be able
to examine resource use, management, and investment issues from
an economic perspective. The course is inter-disciplinary in
terms of the student make-up and thus alternative viewpoints
will be acknowledged and assessed. An important outcome of the
class will be an understanding of the inputs that economists
need from other disciplines in evaluating resource issues and
the input that economists can make to other disciplines in
helping to refine resource use alternatives. |
Topical Outline: | Introduction and Overview
Models of Resource Use: Scarcity and the Concept of Consumer
Cost
Scarcity Continued: Empirical Evidence, Mitigating Factors
Uncertainty, Risk, Option Value, Discount Rates
Common Property, Open Access, Remedies
Fisheries
Forestry
Minerals, Energy
Water
Natural Areas and Ecosystems, Nonpriced Values, Sustainability |