Resource Economics Courses

Program | Faculty | Courses

All courses carry 3 credits unless otherwise specified.

696 Independent Study in Resource Economics

Independent study and research on selected problems in resource economics. Credit, 1-9.

698 Research Field Essay

699 Master's Thesis

Credit, 3-9.

701 Quantitative Methods

Introduction to quantitative techniques used in resource economics theory and applications. Basic mathematical concepts and methods of microeconomics and their uses in optimization and comparative statics analysis.

702 Econometric Methods

Introduction to econometric methods: the general linear models, nonspherical properties, generalized least squares, and restricted least squares. Also estimation with limited dependent variables, dichotomous choice and causality testing.

703 Topics in Advanced Econometrics

Methodologies for dealing with collinearity, autocorrelation, heteroscedasticity, and endogenous right-hand-side variables. Stochastic restrictions and evaluating restrictions via alternative norms. Generalized least squares procedures. Zellner estimation. Pooling data. Simultaneous systems of equations. Fixed-effects and random-effects models.

711 Microeconomic Theory I

Basic theory of monopoly and competitive markets; market equilibria; comparative statics; and adjustment process. An-alysis of optimizing decisions for firms and consumers; production, cost, and utility functions; comparative static analysis; the derivation of supply and demand curves; risk and uncertainty.

712 Microeconomic Theory II

Principles of welfare economics; introduction to noncooperative game theory; theories of imperfect competition; the provision of public goods and the control of externalities, and the economics of information.

720 Environmental and Resource Economics

Economics of environmental quality and natural resource management; theory of externalities, public goods, and resource extraction. Benefit-cost analyses of natural resource use and preservation of unique resources.

721 Advanced Environmental and Natural Resource Economics

Economic models of renewable and nonrenewable natural resources; introduction to dynamic optimization; and the theory of environmental policy.

731 Agricultural Production Economics

Applications relate to theory of the firm and emphasize techniques learned in RES-ECON 701 and 702. Major topics are production function estimation, use of duality theory, choice of functional form, dynamic specifications, and the analysis of risk.

732 Industrial Organization I in Resource Economics

Application of industrial organization and strategic management theory to the marketing system. Empirical analysis of market power exertion, including market structure and performance, price discrimination, product differentiation, vertical control, cartel formation and sustainability, mergers, strategic behavior and firm organizations. Applied topics include branding, advertising, tradeable pullution emission permits, environmental quality, biotechnology, intellectual property rights, and cooperatives.

733 Advanced Agricultural Production Economics

Application of microeconomic theory and quantitative methods to problems in production economics. Literature surveyed includes estimation of production, cost, and supply functions, impacts of technical change, aggregation, disequilibrium, supply irreversibility, and modeling of commodity sectors.

791A Seminar in Resource Economics

Credit, 1.

796 Independent Study

Credit, 1-6.

797A Special Topics in Forecasting

Forecasting techniques and econometric time-series modeling. Discovering the data generating process of a random variable. Univariate approaches for dealing with a time series: exponential smoothing methods and ARIMA models. Tests for stationarity. Unit roots. Dickey-Fuller tests. Augmented Dickey-Fuller models. Multivariate approaches for modeling. Spurious relationships. Cointegration. Vector autoregression. Error correction models.

797M Industrial Organization II in Resource Economics

Use of advanced industrial organization and related models for analysis of horizontal markets and vertical channels of distribution in the marketing system. Sample topics include market entry, spatial competition, price discovery and transmission, product quality, and vertical restraints of trade.

899 Doctoral Dissertation

Credit, 18.