ECG 716 – Topics in Environmental & Resource Economics

co-taught with Zack Brown

2018 Course Flyer

Topics covered in 2018

Economic objectives in resource use: depletability & intertemporal tradeoffs
Introduction to mathematical models of biological resource dynamics
Dynamic economic optimization of a renewable resource (the canonical example)
The Faustman model of optimal forest rotation
An example of optimizing over multi-dimensional states: the optimal control of evolution
The many forms of dynamic optimization (discrete & continuous time & variables); computational issues
Population management models (harvest management & invasive species)
Discrete Control in Continuous Time (switching and impulse control; real options)
Modeling structural and observational uncertainty with belief state models
Projection methods for belief MDPs
Spatial/temporal models (reserve site selection & controlling diffusions)
Irreversibility and quasi-option Value
Endangered species and the ESA
The precautionary principle
What about climate change – addressing non-stationarity
Discounting
Sustainability in economics
Empirical methods I: pricing natural capital
Empirical methods II: a sampling of ‘Resource Econometrics’ research