This course develops an economic perspective on one of the most important and challenging issues facing global society: the allocation, use, and preservation of natural resources. The course presents and discusses the methodology economists use to inform natural resource managers and policy makers. Economic thought and analysis are used to evaluate a variety of issues in this area. The course concludes with a brief discussion of the interdisciplinary aspects of natural resource management.

Benefit-Cost Analysis fosters better understanding of the efficiency consequences of governmental micro-economic actions, both regulatory and fiscal. The course explores the logic, value and limitations of benefit-cost analysis as a public policy tool commonly used, and misused, in comparing the relative merits of alternative government actions.