This course will examine intertemporal problems in environmental and resource economics, including management of renewable and non-renewable resources.
Examples include the conservation of endangered species, the determination of optimal harvesting levels and the setting of harvest regulations, the management of pollution and the control of invasive pests. All of these issues involve important trade-offs between current and future costs and benefits. These trade-offs will be examined by casting the problems as dynamic optimization problems. Model solutions will then be obtained and interpreted.
We will also examine some of the thorny issues involved in economic analysis of these topics, including model uncertainty and discounting. Students can expect to gain an appreciation for the economic issues
involved in inter-temporal allocation problems and to be able to formulate
and analyze dynamic optimization models.
ECG590-002/ECG590-601: Dynamic Environmental and Resource Management
Instructor: Paul L. Fackler
For more information contact the instructor at email@example.com.