EEP 102/Econ 102
Lecture Notes: Land and Water Resources
Prof. Dave Sunding 326 Giannini Hall 2-8229 [email protected]
1. Economics of Land Use and Land Rent Concept of Economic Rent
P
Notes on the Economics of Land Use
Susan E. Stratton
1
Land Rent
The key concept for land rent is tied to scarcity. Since land is scarce, the owner of the land can claim the economic value of that
Empirical Evidence
for the Optimal
Depletion Model
Following Miller and Upton (1985), let the
present value of a resource deposit be
T
( pt c )
V =
q
(1)
tt
t =0 (1 + r )
where c = constant marginal a
Optimal Depletion:
Concepts and Derivations
Outlines
1.
2.
3.
4.
Basic Concepts and an Informal
Derivation
Formal Derivation and the Welfare
Theorem
Assumptions Underlying the Welfare
Theorem
Concludi
A Guide to Problem-Solving for the Second Half of EEP/ECON 102
Susan E. Stratton December 3, 2007
We have looked at several different types of problems in the second half of the course. Many of these
Notes on Lagrange Multipliers
Susan Stratton September 5, 2007
1
Preliminary Concepts/Review
Section 1 is here for reference only. We will NOT be going over this material in section.
1.1
Unconstr
A Three-Period Groundwater Model
Susan E. Stratton
These notes develop a three-period groundwater model. I strongly recommend trying to work this out yourself before looking at these notes. In other w
Section Notes (Friday 10/5 and Monday 10/8)
1
Timber Problem
Review the relationship between Q (t)vs t and Q (t)vs t. Let's try to match up points by joining the graphs up vertically. The relations
Timber Harvesting
Contents: General Overview Differences Between Issues of Forestry and Fisheries The Economic Decision to Harvest a Stand The Case of an Infinite Forest Rotation Management of Forest
Renewable Resources and Fisheries
Contents: General Overview A Biomedical Model of a Fishery Optimal Fish Harvest in Steady-State with Interest Rate of Zero Open Access and Competitive Behavior Renewa
Tools for Dynamic Analysis
Contents: General Overview Key Element of Dynamics: Interest Rate The Components of Interest Rates Discounting Uncertainty and Interest Rates Benefit-Cost Analysis
General
Natural Resources and Dynamic Systems
Contents: General Overview Key Terms and Components of Dynamic Systems Example of a Dynamic System Dynamic Models of Nonrenewable Resources Dynamic Efficiency: Th
Section Notes
Susan E. Stratton
1
Cost of housing regulations
B (H) gives us the benefit of housing C (H) gives us the cost of housing L units of land available units of land needed per hous
Introduction:
The Roots of Resource Economics
Why study environmental and resource
economics? Because we want to know what
economic theory and related empirical findings
can tell us about a variety of