Natural Resource Economics

The natural environment yields a large source of economic production. Most production processes rely on them (though not all). In addition, consumption of organic material is essential to our lives. This course will consider how resources, e.g. water, fossil fuels, land, forests, and animals, are viewed and used within the human economy. The course will emphasize mathematical treatments of the issues; economic growth, sustainability, externalities, missing markets, dynamic and static efficiency. With the broad concepts in place, we will consider the variations across different resources