Fall 2019 - ECON 362 D100
Economics of Natural Resources (3)
Class Number: 3022
Delivery Method: In Person
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
Instructor:Fernando Aragon Sanchez
1 778 782-9107
Prerequisites:ECON 201 or 301; 60 units.
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.
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
- Written assignment 10%
- Midterm exam 30%
- Final exam 60%
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 email@example.com.
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