Natural Resources and Environmental Economics (Field 7)

EE475 Natural Resource Economics

3 (3-0-6) 

Prerequisites: EE311

Economic theories and tools used for natural resource allocation. Concepts of scarcity and economic rent of natural resources. Allocation of natural resource among current users as well as intertemporal allocation. Market failure due to deficiencies in the property rights system. Government policies and tools for natural resource management and their impacts.