This course is a survey of the economics of renewable and nonrenewable natural resources including fisheries, forests, minerals and fuels, environmental resources such as clean air and water, and ecological resources such as biodiversity and a stable global climate. Students will analyze these topics by considering optimal trade-offs between benefits and costs of resource use, including trade-offs between current and future use and sustainability. The role of property rights on resource use, market failure and the role of government are covered.
Prerequisites
Admission to the BAS-SP program, OR permission from the BAS-SP program administrator.