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Unformatted text preview: ECON/FRE 374: Land and Resource Economics Class Time: MWF 11:00 -11:50 AM Room: MacMillan 166 Instructor Sumeet Gulati Phone: (604) 822-2144 Office: 341 MacMillan Office Hours: Monday, Wednesday 1:00 PM – 1:50 PM Contacting me: § Visit me during office hours. Please come prepared with your questions or thoughts written down . § Call me during my office hours. § Immediately after class: for quick questions. § Email: [email protected] (slowest response): While writing emails make sure you have either ECON 374 or FRE 374 in the subject header or a spam filter on my email account might prevent your email from reaching me. I respond to my emails approximately once a workday. Usually, never on weekends or holidays. In cases where answers to your questions are easily available in your syllabus or on vista, I may not respond to your query. Teaching Assistants Name David Snyder Nishant Chadha Office 1099A Buchanan Tower Email [email protected] Office Hours Thursdays, 3-4 PM. Prerequisites 1) An introductory level course in microeconomic theory. Why you should take this course? Do you wonder why, our fish are severely over-exploited? Record numbers of known wildlife species are going extinct? We seem to care little about the long-run well being of our forests? Some cities sprawl, while others have high density? Or do you care about other similar questions? If you do, this course is for you. What you will gain from this course? § An understanding of how we (collectively as a society) make decisions about our natural resources. § An objective analytical framework to evaluate our decisions, and improve them. Together, we will build an analytical framework from simple economic principles. We will use it to define society’s optimal preservation of natural resources, and evaluate over-exploitation. We will then ask: why do we make sub-optimal decisions? There will be no single answer, but we will be able to identify significant issues. Is the market failing to do the optimal? When it comes to natural resources, the market often fails. What can we do to improve it? Based on the type of resource, we will study how policy can bring exploitation to optimal levels. We will not find any definite solutions to the above questions. We will instead learn of some of the major economic explanations. If at the end of this term, you too can identify some of the economic reasons underlying natural resource decisions in the real world, this course would have achieved its objective. Course Material Required Text : (you can buy the new or old text): Available at UBC bookstore, and some copies at Discount Textbooks. New Text: Barry C. Field (2008). “ Natural Resource Economics: An Introduction ”, Waveland Press Book Website: http://www.waveland.com/Titles/Field.htm , either the new or old edition....
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- Winter '11
- Economics, Vista, Field chapter