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2010-2011 Catalog Online

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Environmental Economics (EEC)

Chairperson: Professor Opaluch

101 Freshman Inquiry into Environmental and Natural Resource Economics (1)

Introduction for freshmen to the opportunities, careers, research activities, applied outreach, and educational programs in the Department of Environmental and Natural Resource Economics. Interact weekly with faculty. Explore hands-on modules. (Lec. 1) S/U credit.

105 Introduction to Resource Economics (3)

Application of microeconomic principles to selected resource problem areas. The market mechanism and its alternatives are examined as methods of resolving contemporary resource use problems. (Lec. 3) (S)

110 Multimedia Presentation of Environmental Issues (3)

Research pressing environmental issues and create multimedia presentations using computer technologies to combine slides, video, audio, and computer graphics. No technical knowledge or computer skills are necessary. (Lec. 2, Lab. 2)

205 Resource Management and Conservation (3)

Introduction to economically efficient resource management, the development of management regimes that support a sustainable economy; valuation, property rights, market structure, dynamic resource management. (Lec. 3) Pre: 105.

310 Economics for Environmental Resource Management and Policy (3)

Economic approaches to natural resource use and environmental policies. Exploring measures of the "economic value of environment." How scientists, managers, and markets can affect the environmental quality of life. (Lec. 3) Pre: 105 or ECN 201. (S)

325 Planning and Managing a Small Natural Resources Firm (3)

Directed toward students with an interest in managing a small marine, agricultural, or other natural resources firm. (Lec. 3) Pre: 105 or ECN 100 or 201 or permission of instructor.

345 Sustainable Development, Trade, and the Environment (3)

To understand the relationship between economic development, international trade and the environment. Topics include sustainable development, trade policies and the environment, climate change and development, and institutions for managing the commons. (Lec. 3) Pre: 105 or ECN 201 or permission of instructor.

356 Tourism Economics (3)

Application of economic principles and research methods to tourist and tourism industry behavior. Practical research methods for assessing economic, social, and environmental benefits and costs of tourism development are examined. (Lec. 3) Pre: 105 or permission of instructor. (S)

410 Fish and Wildlife Economics (3)

Institutional, biological, and economic factors affecting the use of fish and wildlife resources. Economic analysis is applied to problems of fish and wildlife management in both marine and terrestrial ecosystems. (Lec. 3) Pre: 310 or ECN 328 or 323 or permission of instructor.

432 Environmental and Resource Economics and Policy (3)

Economic analysis of policies that address environmental and natural resource problems. Topics include pollution-control policies, economic incentives, and the optimal use of renewable and nonrenewable natural resources. (Lec. 3) Pre: 205 or ECN 201.

435 Aquacultural Economics (3)

Economics of international and domestic development of aquaculture, environmental and resource regulations on aquaculture, and management of and decision making in aquacultural enterprises. Analysis of public and private aquaculture production and marketing. (Lec. 3) Pre: 105 or ECN 201 or permission of instructor.

440 Benefit-Cost Analysis (3)

Basic concepts in benefit-cost analysis. Measurement, comparison of benefits and costs over time, and criteria for evaluation of projects and public policies. Problems and case studies in evaluation of current natural resources issues. (Lec. 3) Pre: 105 or permission of instructor.

441 Markets, Trade, and Natural Resources /(3)

Analysis of the role of markets in the valuation, management, and distribution of natural resources (esp. fish); price analysis; international trade; channels of distribution; commodity futures and options markets; marketing information; regulations and controls; cooperative marketing. (Lec) Pre: 105 or ECN 201 or permission of instructor.

491, 492 Special Projects (1-3 each)

Workshop for advanced students where individuals or small groups are assigned projects requiring the analysis of natural resource and allocation problems with particular emphasis on marine resources. (Independent Study) Pre: permission of chairperson.

501 Graduate Seminar in Natural Resource Economics (1)

Presentation of research and discussion of current issues and methodologies in environmental and natural resource economics. (Seminar) Enrollment is required of all full-time graduate students in residence; exceptions made with permission from chairperson. No more than one credit may be taken for program credit. S/U credit.

502 Research Methodology in Environmental and Natural Resource Economics (3)

Practice and methods of applied research in environmental and natural resource economics. Topics include philosophical foundations, research project design, reporting research results, and criticism of proposals and research papers. (Lec. 3) Pre: 528 and 576 or permission of instructor.

514 Economics of Marine Resources (3)

Role of economics in management of estuarine and marine resources. Particular attention to resource valuation, environmental issues, and management of renewable and nonrenewable resources. (Lec. 3) Not for graduate credit in resource economics.

518 Mathematics for Economists (2 or 4)

Introduction to mathematical methods in economics and business. Economic applications of constrained and unconstrained optimization, matrix algebra, primal and dual functions, eigen roots, with illustrations from economics, finance, and environmental and natural resource economics. (Lec. 2 or 4) Pre: ECN 328 and MTH 131 or equivalent or permission of instructor.

520 Production Economics (2)

Production in natural resource economics. The formulation and estimation of production functions. Technological change in economic growth and its measures. New directions in production theory and applications. (Lec. 2) Pre: at least 2 credits of 518, or MTH 131.

522 Computer Intensive Methods in Resource Economics (3)

Use of selected software packages to analyze topics and numerical problems in environmental and natural resource economics, including GAMS/MINOS, spreadsheets, Crystal Ball, Matlab, GIS, and SAS. (Lec. 2, Lab. 2) Pre: 518 or equivalent (may be taken concurrently).

527 (or ECN 527) Macroeconomic Theory /(3)

Static and dynamic models of aggregate economic behavior developed and analyzed. (Lec. 3) Pre: ECN 327 and 375 or equivalent, or permission of instructor.

528 (or ECN 528) Microeconomic Theory (3)

Analytic tools of optimization. Neoclassical price and production theory. Neoclassical theory of consumer and producer behavior, price and distribution, partial and general equilibrium, and welfare economics. (Lec. 3) Pre: ECN 328 and 375 or equivalent, or permission of instructor.

529 Game Theory (3)

Analysis of situations of conflict and cooperation, with economics and business applications. Introduction to cooperative and noncooperative games, including the extensive and strategic forms, Nash equilibrium, repeated games, and bargaining. (Lec. 3) Pre: 528 or permission of instructor.

532 Land Resource Economics

See Community Planning 537.

534 Economics of Natural Resources (4)

Microeconomic theory applied to problems of natural resource allocation. The rationale for government intervention in the market’s provision of natural resources and alternative techniques for optimally allocated natural resources are investigated. (Lec. 4) Pre: 528 or permission of instructor.

535 Environmental Economics (3)

Theory of externalities; incentive-based and regulatory policy instruments for addressing market failure; theory and methods for valuing natural resource and environmental services; other environmental topics. (Lec. 3) Pre: 528 or equivalent.

540 Applied Resource Economics (3)

Examines issues in agricultural and natural resource policy through applications of theoretical and empirical tools. Applications include pollution control, fisheries management, and water and agricultural policy. (Lec. 3) Pre: 528 or permission of instructor.

542 Conservation Biology and Resource Economics

See Natural Resources Science 532

543 Economic Structure of the Fishing Industry (3)

Analysis of fishing industries from the standpoint of activity and efficiency. Problems related to common property resources, government policy, labor, and legal and institutional factors. (Lec. 3) Pre: 514 or permission of instructor. In alternate years. Next offered fall 2012.

570 Experimental Economics (3)

Controlled laboratory experiments to study economic theories, institutions, and policies. Provides an overview of experiment design and nonparametric data analysis. Applications include game theory, markets, public goods, and uncertainty. (Lec. 3) Pre: 528 or permission of instructor.

576 (or ECN 576 or STA 576) Econometrics /(4)

Application of statistics and mathematics to economic analysis. Implication of assumption required by statistical methods for testing economic hypotheses. Current econometric methods examined and discussed. (Lec. 3, Lab. 2) Pre: ECN 575 or equivalent, STA 308 or equivalent, or permission of instructor.

591, 592 Special Projects (1-3 each)

Advanced work under supervision arranged to suit the individual requirement of the student. (Independent Study) Pre: permission of chairperson.

595 (or PSC 595 or SOC 595) Environment and Development Economics (3)

Application of economic principles and research methods to understand the economics of environmental and natural resource management and poverty alleviation. (Lec. 3) Pre: 528 or permission of instructor.

598 Master’s Nonthesis Research (1-3)

Credit for completion of major paper. (Independent Study) Pre: enrollment in nonthesis master’s program in resource economics.

599 Master’s Thesis Research

Number of credits is determined each semester in consultation with the major professor or program committee. (Independent Study) S/U credit.

602 Research Methodology (1)

Practice and methods of research in environmental and natural resource economics. Philosophical foundations, competing views on methodology, project design, execution and communication of results to different audiences. (Lec. 1) Pre: 528 and 576 and concurrent registration in 502. In alternate years. Next offered spring 2012. S/U credit.

610 Advanced Studies (1-3)

Advanced topics in resource economics. Mathematical models in resource management. (Independent Study) May be repeated with different topics.

624 Dynamic Economic Models (3)

Fundamentals of dynamic economic theory. Dynamic optimization techniques applied to environmental and natural resource economics. (Lec. 3) Pre: 528 or permission of instructor.

628 (or ECN 628) Advanced Microeconomic Theory I (3)

Neoclassical value and distribution theory. Theories of imperfect competition, general equilibrium theory, and dynamic analysis. (Lec. 3) Pre: 528 or permission of instructor.

630 Advanced Microeconomic Theory II (3)

Development and application of welfare theory to natural resource use. Welfare concepts such as consumer surplus, producer surplus, and marginal cost pricing in policy decisions for agriculture and natural resources. (Lec. 3) Pre: 628 or permission of instructor. In alternate years. Next offered spring 2013.

634 Advanced Economics of Natural and Environmental Resources (4)

Concepts of economic efficiency applied to natural resources with emphasis on intertemporal allocation of nonrenewable and renewable resources. Application of welfare and institutional economics to resource management and development; analysis of optimum allocation among users. (Lec. 4) Pre: 534 and 624 or permission of instructor.

635 Marine Resources Policy (3)

Analysis of public policy problems relating to estuarine and marine resources, including natural resource damage assessment, environmental issues, coastal zone concerns, and other selected topics. (Lec. 3) Pre: 534. In alternate years. Next offered spring 2012.

676 (or ECN 676) Advanced Econometrics /(4) )

A course covering the tools necessary for professional research in resource economics. Reviews the general linear model, but emphasis is on simultaneous equation models. Assumes a knowledge of introductory econometrics, statistical theory, and matrix algebra. (Lec. 4) Pre: 576 or its equivalent.

677 Econometric Applications in Resource Economics (3)

Special topics in econometrics as applied to agriculture and natural resources. Topics include time series models, Bayesian analysis, and dichotomous dependent variables. (Lec. 3) Pre: 676. In alternate years. Next offered fall 2011.

699 Doctoral Dissertation Research

Number of credits is determined each semester in consultation with the major professor or program committee. (Independent Study) S/U credit.

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