EC 326 - Natural Resource Economics (2 Cr.)

(ES 326) (GCR-ENV)

Broadly speaking, natural resource economics studies the flow of resources from nature to the economy, whereas environmental economics studies the flow of residuals from the economy into nature. We will use economic theory to provide a framework to analyze how society extracts both non-renewable and renewable resources. We will explore the concept of sustainability and we will evaluate how our decisions to use resources today has impacts on both current and future generations. We will analyze the use of fossil fuels and minerals, forests, fisheries and aquifers from both a theoretical and applied standpoint. Prerequisite: EC 225 or permission of the instructor. Alternating spring semesters. Last offered spring 2024.