ARE/ESP 175 introduces students to the economics of renewable and nonrenewable natural resources. Topics covered include the valuation and use of land and water; fishery economics, management and regulation; extraction and management of nonrenewable resources such as minerals and energy resources; renewable and nonrenewable sources of energy; forest use; sustainability; and natural resource scarcity. Students will learn how to use dynamic models to analyze decision making over time. A solid background in calculus is required. Prerequisite: ARE 100B, Economics 100, or permission of instructor. GE credit: SocSci.
ARE 276 applies advanced topics and methods in industrial organization, economic theory and capital theory to environmental and resource economics. The course emphasizes the dynamic, spatial and strategic aspects of issues relating to the environment, energy and natural resources. Topics include structural estimation of single-agent dynamic optimization problems and multi-agent dynamic games, spatial analysis, game theory, contract theory, and externalities. Prerequisite: Graduate-level microeconomics, econometrics and dynamic optimization, or permission of instructor.