Essay Instructions: This essay should deal with a topic related to the class and related to a reading, a newspaper article or any other contemporary topic related to the class.
* About this class
This course is an introduction to natural resource economics and management, with special emphasis on forest, wildland resources, urban- rural interface, and economic instruments for conservation. Course topics include: natural resource markets, non-market valuation of environmental costs and benefits, investment & decision analysis, taxation of land, regional economics, and management models. Specific topics covered by the class are climate change, recreation, forest economics, water and wildlife management. Particular methods of analysis used in the class are Linear Programming (LP), Linear Regression, Cost-Benefit analysis (CB) and input-output (I-O) among others.
*Topics and Reading
Microeconomics review:
Leeds, Michael A.; von Allmen, Peter, and Schiming, Richard C. “Market Failure: Public Goods and Externalities” in “Economics”. Pearson Addison Wesley, pp. 435-453. 2006.
Perloff, Jeffrey M. “Consumer Choice” in “Microeconomics”. Pearson, Addison Wesley, pp. 74-102. 2007.
Investment Analysis
Buongiorno, J. and J.K. Gilless. 2003. Decision methods for forest resource management. Academic Press, San Diego. 439 p. (Read Chapter 18, “Analysis of forest resource investments”)
Bettinger, Pete; Boston, Kevin; Siry, Jacek P.; Grebner, Donald L. “Management of Forests and Other Natural Resources” in “Forest Management and Planning”. Elsevier, pp. 2-13. 2009
Klemperer, W.D. 1996. Forest resource economics and finance. McGraw-Hill, New York. 551 pages. (Chapter 4, “The forest as capital”, pages 101-133)
Forestry Investments
Klemperer, W.D. 1996. Forest resource economics and finance. McGraw-Hill, New York. 551 pages. (Read Chapter 7, “Economics of forestland use and even-aged rotations”, pages 202-238)
Klemperer, W.D. 1996. Forest resource economics and finance. McGraw-Hill, New York. 551 pages. (Read Chapter 8, “Optimal timber stocking”, pages 239-265)
Taxation
Klemperer, W.D. 1996. Forest resource economics and finance. McGraw-Hill, New York. 551 pages. (Read Chapter 9, “Forest taxation”, pages 266-301)
Valuation
Davis, L.S. et al. 2001. Forest Management. McGraw-Hill, New York. 804 pages. (Read Chapter 8, “Principles and applications in forest valuation”, pages 395-462)
Markets-Forecasting: Timber Markets
Klemperer, W.D. 1996. Forest resource economics and finance. McGraw-Hill, New York. 551 pages. (Read Chapter 12, “Timber supply and demand”, pages 362-394)
Econometric Models
Buongiorno, J. and J.K. Gilless. 2003. Decision methods for forest resource management. Academic Press, San Diego. 439 p. (Read Chapter 19, “Econometric analysis and forecasting of forest product markets”)
Regional Economics
Loomis, J.B. 2002. Integrated Public Lands Management. Columbia, New York. 474 pages. (Read Chapter 7, “Regional economic analysis and input-output models”, pages 171-191)
Bureau of Business and Economic Research. “The Regional Economy”.
Forest management models
Buongiorno, J. and J.K. Gilless. 2003. Decision methods for forest resource management. Academic Press, San Diego. 439 p. (Read Chapter 1, “Introduction”, Chapter 2, “Principles of linear programming: Formulations”, Chapter 3, “Principles of linear programming: Solutions”, Chapter 4 “Even-aged management: A first model”)
Biodiversity/Protected Areas
United Nations Environmental Programme. “Global Biodiversity Assessment”. Chapter 12. 2001.
Recreation
Douglas, R.W. 1993. Forest Recreation. Waveland, Prospect Heights. 373 pages. (Read Chapter 5, “Financing forest recreation”, pages 99-114)
Emerton, Lucy; Bishop, Joshua and Thomas, Lee. "Sustainable Financing of Protected Areas: Global Review of Challenges and Options." 2006, pp. 97. Read Chapter 7.
Multiple Use
Loomis, J.B. 2002. Integrated Public Lands Management. Columbia, New York. 474 pages. (Read Chapter 8, “Principles and applications of multiple-use management”, pages 192- 220)
Water
Young, Robert. “The Economic Value of Water: Concepts and Methods”. Resources for the Future. Washington D.C. 357 pages. (Read Chapters 1 and 2).
Economic Valuation
Stevens, Thomas. “Can Stated Preference Valuations Help Improve Environmental Decision Making?” Choices. 2005. pp. 189-193
Shaw, Douglas W. “The road less traveled: Revealed Preferences and using the Travel Cost Method to value environmental changes” Choices. 3rd Quarter. 2005.
Hanley, Nick; Shogren, Jason F. and White, Ben. “Valuing the environment and Natural Resources” in “Introduction to Environmental Economics”. Oxford University Press, pp. 34-67. 2001.
There are faxes for this order.