EE 475: Natural Resource Economics

3 (3-0-6)

Prerequisites: EE311

The concepts of scarcity and economic rental of important natural resources and problems with these resources. Economic theories and tools used in natural resource management, including allocation among current users as well as intertemporal allocation. Market failure due to deficiencies in the property rights system. Government natural resource policy and measuring its impact on the use of all kinds of natural resources.