syll310

SCIENCE 310

RESOURCE ECONOMICS

Fall 1999

COURSE TITLE: Resource Economics

TIME & PLACE: Tuesdays and Thursdays, 10:30-12:50 Grant Hall 324

TEXTS: Environmental and Natural Resource Economics, 4^th Edition, 1996, Tom Tietenberg

The Ecology of Commerce, 1993, Paul Hawken

INSTRUCTOR: Gregory G. Brown

OFFICE: 317 Grant Hall

PHONE: 564-8267

EMAIL: gregb@alaskapacific.edu

OFFICE HOURS: TBA

A. Prerequisite:

Introductory course in microeconomics.

B. Course Precepts:

Human interaction with the environment involves a series of decisions or choices that determine the allocation of scarce resources. Human actions, as manifested through an economic system, result in environmental consequences, both desirable and undesirable. Natural resource and environmental economics is the study of the circumstances that give rise to environmental problems through the use of an analytical framework that examines the relationship between the environment on one hand, and the economic and political systems on the other. The study of economics can assist in the search for solutions to environmental problems so that effective policies can then be developed and implemented.

C. Objectives:

1) To provide an overview of the economics of the environment by examining the human/environment relationship (text).

2) To show how decision criteria (both normative and subjective) help shape the allocation of natural and environmental resources (text).

3) To learn how to apply various types of economic analysis (e.g., efficiency, benefit-cost, contingent valuation) to determine the most appropriate allocation of natural resources (text).

4) To develop an understanding of the economics of externalities and the environmental policies designed to reduce them.

5) To develop an understanding of the economics of natural resources, including the optimal management of both renewable and non-renewable resources, and the governance issues associated with overcoming The Tragedy of the Commons.

6) To examine specific natural resource and economic problems and policies in a wide variety of settings, both domestic and international. Examples will be drawn from the fields of forestry, commercial fisheries, pollution control, growth management, energy, recreation management, and other fields (text).

7) To research and analyze one natural resource allocation issue in depth to formulate an effective policy response (paper).

D. Required Textbooks:

Environmental and Natural Resource Economics, 4^th Edition, 1996, Tom Tietenberg

The Ecology of Commerce, 1993, Paul Hawken

Reading Handouts

E. Grading

Students will learn about natural resource economics through reading, writing, class discussion, and written exercises. Grades will reflect student efforts in the following areas: 1) reading assigned materials, 2) attending class, 3) completing written assignments, 4) completing a class project, 5) comprehension of economic concepts (exams/quizes). Specifically, grade allocation will be based on the following:

20% Attendance and Classroom participation

(more than 2 unexcused absences will result in a drop in grade)

30% Written assignments/class project

50% Exams/Quizzes

Readings will be assigned each week. There will be a number of written assignments that involve economic analysis.

Class Presentations:

Each week, a group of students will be given responsibility for leading a class discussion of the assigned readings. In preparing for the discussion, the student leaders should prepare a short summary of the readings for presentation, complete the questions at the end of each chapter, and draw upon other outside resources such as journal articles and videos to lead a discussion of the material. Students not leading the discussion should come fully prepared to participate in the class discussion.

Class Paper:

Students will complete one individual class project (a paper) in which the student investigates the economics of a natural resource issue in depth. For example, you could write about a topic out of the textbook, do independent research (e.g., the economics of recycling in Anchorage), or volunteer research activity for an agency or organization. You could read and review several books or articles on the subject matter that are not covered in the course. All papers are to be of professional quality, free of grammatical errors. You should get your topic approved by me beforehand; this will allow you to get feedback from me and likely improve your grade. Time permitting, students will present their project findings to the class.

F. Schedule of Topics and Readings (Revision 9/20/99)

Sept. 30 1^st Week: Introduction

Review of Economic Concepts

Oct 5,7 2^nd Week: Review of Economic Principles

Economics of the Environment

Tietenburg, Chapters 1 and 2

Hawken, Chapters 1 and 2