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.
Athena Title
N RES & ENV ECON I
Equivalent Courses
Not open to students with credit in FORS 7860
Prerequisite
AAEC 6580-6580L or ECON 8000
Semester Course Offered
Offered spring
Grading System
A - F (Traditional)
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
Syllabus
Public CV