ESPM3261: Economics and Natural Resources Management

Microeconomic principles and their application to natural resource management problems. Economic and policy tools to address market failures. Discussion of regulatory and market-based instruments. Discounting and compounding concepts. Methods for conducting financial and economic analyses of natural resource management projects. Decision criteria when conducting benefit/cost analysis of natural resource projects. Methods for valuing non-market natural resource goods and services. Economics of managing renewable natural resources such as forests and fisheries. Land economics. Payments for environmental services. Planning and management problems. Case studies.College algebra or equivalent is highly recommended.

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