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University of Rhode Island — Environmental & Natural Resource Economics
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EEC 634 – Advanced Economics of Natural and Environmental Resources
Course Information

Professor: Dr. Hirotsugu Uchida
Semester: Spring
Credits: 4
Prerequisites: EEC 534 and EEC 624 or permission of instructor

Catalog Description: 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

Course Goals & Outcomes

This course focuses on developing a theoretical understanding of the economic dynamics present in the use of our environmental and natural resources. To develop a better understanding of these dynamics we will address the optimal use of our natural resources over time, how different types of natural resources lead to different dynamic equilibria, and how market structure and uncertainty alter the equilibrium. This will be achieved by developing an understanding of the core literature present in the fields of renewable and non-renewable natural resources. One of the key objectives of this course is to get the students exposed and familiarize them with the literature in natural resource economics, both the classic/seminal papers and recent cutting-edge developments.

By the end of the semester students will be able to:

  • Be familiar with the cutting-edge issues and methods in environmental and natural resource economics
  • Develop analytical skills required to address environmental and natural resource use
    • Over time
    • Over space
Course Syllabus

Class topics:

  • Non-renewable resources
    • The economics of exhaustible resources
    • Price and extraction cost
    • Optimal exploration and exploitation
    • Monopoly and non-renewable resources
    • Exhaustible resource and industrial structure
    • Empirical analysis of Hotelling rule
    • Intergenerational equity and nonrenewable resources
  • Forestry and water resources
    • Principles and policy in forestry economics
    • Optimal rotation with in situ preference
    • Optimal groundwater depletion
    • Common property aquifer as a differential game
  • Renewable resources
    • Renewable resource models and capital theory
    • Model of commercial fishing
    • Model of economic regulation of commercial fisheries
    • Markets and rent dissipation
    • Minimal information management and ITQ
    • ITQ and production externalities
    • ITQ and discarding
    • Bioeconomics of spatial exploitation
    • Bioeconomic model of marine reserves
    • Optimal harvesting of stochastic spatial resources
    • Economic impacts of marine reserves
About The Professor

Dr. Hirotsugu Uchida
Assistant Professor
Department of Environmental and Natural Resource Economics
212 Kingston Coastal Institute
Office: 401.874.2238
Fax: 401.782.4766

Dr. Uchida is an environmental economist who specializes in natural resource economics. His current research interests are:

  • fisheries management;
  • seafood markets and ecolabel; and
  • sustainable use of ecosystem services and economic development.
Reasons To Take This Course

This course will enable you to obtain the skills necessary to analyze environmental and natural resource issues incorporating both temporal and spatial dynamics.

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