Description
This course will apply economic principles to explore real world problems with natural resource management. Following a review of supply and demand pricing theory, we will examine natural resource investment strategies that take into account commodity prices, market rates of return and opportunity costs of future harvests. A theoretical framework for different resource management systems will be presented which will include property right structures, government institutions along with cultural and ethical aspects of various policies. Case studies of natural resource problems will be used as a mechanism for bringing these elements together. Prerequisite(s): ECON202