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Nov 27, 2024
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AGSC 309 - Resource Economics (3 units)
Economics of renewable (land, water, air, forests, etc.) and non-renewable (fossil fuels, minerals) resource use, conservation, valuation, policy design and implementation. (AGSC 309 and ECON 309 are cross-listed; credit may be earned in one of the two.)
Prerequisite(s): ECON 102 .
Units of Lecture: 3
Offered: Every Spring - Odd Years
Student Learning Outcomes:
Upon completion of this course:
1. Students will be able to apply criteria for evaluating whether the rate of natural resource extraction and use is faster (or slower) than is economically efficient.
2. Students will be able to evaluate which segments of society gain and lose under alternative regimens for resource extraction and use.
3. Students will be able to identify market-based and regulatory methods designed to fully incorporate opportunity costs of natural resource use into economic decision-making, and evaluate circumstances for which various methods are more or less advantageous than others.
4. Students will be able to identify the sources of market failure that result in overuse, and apply the concept of opportunity cost as a method to measure the cost of market failures as they affect natural resource use.
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