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Module 6 Notes
Course: AES 2281, Fall 2009School: Allan Hancock College
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6, Week 2281AES Economics and Natural Resources 2004 Page 1 MODULE 6 INTRO TO NATURAL RESOURCE ECONOMICS NATURAL RESOURCE ECONOMICS - The Allocation and Economic Management of Environmental Resource Inputs env inputs (NRE) vs waste outputs (env econ in past) - again - lot of overlap different focus in NRE is now mainly about optimal rates of use/ extraction of resource inputs is older ; optimal resource...
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6, Week 2281AES Economics and Natural Resources 2004
Page 1
MODULE 6
INTRO TO NATURAL RESOURCE ECONOMICS
NATURAL RESOURCE ECONOMICS
- The Allocation and Economic Management of Environmental Resource Inputs env inputs (NRE) vs waste outputs (env econ in past) - again - lot of overlap
different focus in NRE is now mainly about optimal rates of use/ extraction of resource inputs is older ; optimal resource allocation - efficient allocation; (static) welfare equilibrium
microeconomics
MORE formal NRE deftn Intro 2 aspects to natural resources
Produces an
INTERTEMPORAL ALLOCATION PROBLEM - i.e.
Eg to determine best use rate - when get most utility? - rate of regeneration at (if all) - effect of use now on future stocks (eg. reproduction)
Week 6, 2281AES Economics and Natural Resources 2004
Page 2
Formal deftn
NRE
CENTRAL QUESTION for us will 3 key features of NRE sub-discipline 1. 2. 3. Brief History of NRE fairly recent; bits and pieces 1910-30 but not really much till 1950s (still is earlier than environmental economics) conservation focus vs. inter-temporal us...
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