Simon Fraser University
Engaging the World

Course Outlines

Fall 2019 - ECON 362 D100

Economics of Natural Resources (3)

Class Number: 3022

Delivery Method: In Person

Overview

  • Course Times + Location:

    Fr 10:30 AM – 12:20 PM
    AQ 3005, Burnaby

  • Exam Times + Location:

    Dec 16, 2019
    8:30 AM – 11:30 AM
    RCB 8100, Burnaby

  • Prerequisites:

    ECON 201 or 301; 60 units.

Description

CALENDAR DESCRIPTION:

Application of economic analysis to natural resource problems and efficient management practice; public policy considerations in respect to development and conservation; benefit-cost analysis. Quantitative.

COURSE DETAILS:

This course introduces students to the economics of both renewable and non-renewable natural resources.  The key objective is to develop an economic perspective of the issues and policies involved in natural resource use.   

The course will begin with an introduction to key economic concepts to study natural resources such as:  consumer and producer surplus, rent and land value, and discounting.  Second, we will study basic models for the optimal use of non-renewable resources (like oil and minerals) and renewable resources (like fisheries and forests). Finally, we discuss externalities and pollution.  

In sum, students will learn about the values of natural resources as well as static and dynamic models used in natural resource analysis. We will use intermediate calculus to present the models, but emphasis will be in developing the economic intuition and linking the concepts to relevant economic and policy debates.

Prerequisites:   ECON 201 or 301; 60 units. Students who have completed ECON 103 and ECON 105 (with a minimum C-) may enroll in ECON 362.  Permission must be obtained from the Economics Advisors either in person, or by completing the online Contact Form: ‘Request permission to take Econ 362 in Fall 2019’ available at http://www.sfu.ca/economics/undergraduate/undergraduate-advising/contact-an-advisor.html



Topics: land use and value, theory of depletion, economics of the fishery, forestry use, externalities and pollution

Grading

  • Written assignment 10%
  • Midterm exam 30%
  • Final exam 60%

Materials

REQUIRED READING:

Field, Barry C, Natural Resource Economics: An Introduction, Waveland Press Inc., 3rd edition, 2015.

Department Undergraduate Notes:

***NO TUTORIALS DURING THE FIRST WEEK OF CLASSES***

Students requiring accommodations as a result of a disability must contact the Centre for Accessible Learning (CAL) at 778-782-3112 or caladmin@sfu.ca.

Registrar Notes:

SFU’s Academic Integrity web site http://www.sfu.ca/students/academicintegrity.html is filled with information on what is meant by academic dishonesty, where you can find resources to help with your studies and the consequences of cheating.  Check out the site for more information and videos that help explain the issues in plain English.

Each student is responsible for his or her conduct as it affects the University community.  Academic dishonesty, in whatever form, is ultimately destructive of the values of the University. Furthermore, it is unfair and discouraging to the majority of students who pursue their studies honestly. Scholarly integrity is required of all members of the University. http://www.sfu.ca/policies/gazette/student/s10-01.html

ACADEMIC INTEGRITY: YOUR WORK, YOUR SUCCESS