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Natural Resources Economics (l.m.)

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The course covers a wide range natural resource allocation issues. It introduces students to the principles, reasoning, and techniques required to set-up and solve these allocation problems. The first Section of the course is devoted to learning the basic principles and tools required to cope with natural resource management. These tools are then applied in the second Section to several case studies of contemporary renewable and non-renewable natural resource problems, such as oil, forestry and fishery. Normative implications are drawn from the analysis and actual economic policy instruments are analysed.

Il corso si svolge nel I semestre (dal 24/9/2018 al 14/12/2018)

Docenti: Luca Salvatici (docente titolare)

Crediti: 9

Numero moduli: 1

Date di esame


The course is organized in 3 sections: 

Section 1: Analytical techniques and modeling
- Modeling, definitions
- Basic concepts
- Solving numerical allocation problems
- Optimal control theory
- Phase diagrams
Section 2: Principles of natural resource economics and policy
- Non-renewable resources and stock pollutants: dynamics and regulation
- Fundamentals of renewable resource economics
- Fisheries and forests: optimal harvesting, stock recovery, and assessing extinction risk
- Decision making under uncertainty and option value
Section 3: Case studies and special topics
- The case studies change from year to year depending on current issues and on student interest

[ ultimo aggiornamento 24/9/2018 ]


Lecture slides and other teaching material will be downloadable from the course website.
Textbook (required)
J. M. Conrad, Resource Economics, 2nd Edition 2010, Cambridge University Press, Paperback ISBN: 9780521697675, Chapters: 1 – 3 – 4 – 5.

Other textbooks (optional)
Jonathan M. Harris, Brian Roach, Environmental and Natural Resource Economics: A Contemporary Approach, Taylor & Francis Ltd 2017
C.W. Clark, Mathematical Bioeconomics. The Optimal Management of Renewable Resources, John Wiley & Sons, 1990 (for advanced students)

Additional readings (optional)
The reading list will be provided during the class.

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