The course first develops an understanding of the open access basis
for resource degradation. We then consider analytical
models for optimal fisheries management and regulation. Case studies include Maine Lobster,
Mid-Atlantic Yellow Fin Hake, North Pacific Halibut, and North Pacific Fur Seal. Next we turn to
dynamic models of nonrenewable resource use with particular attention given to
mineral and energy resources and natural resource scarcity. We examine the economics of high energy
prices and models of OPEC behavior. The
course concludes with an examination of sustainable development including a
case study of trade and the environment.
We pay particular attention to problems such as species
extinction, global climate change, deforestation, and resource problems
in developing
nations.
Pre-requisite
Economics 101 or 111, or instructor's permission is a prerequisite for
this course.
Focus on Energy
We
will examine models of exhaustible and renewable energy supply and
demand and compare current OPEC behavior to its behavior during the
energy crisis of 1973.
