This course deals with the exploitation of exhaustible, renewable and environmental resources and the public policy issues that arise in seeking their efficient use. It examines the effects of different market and mineral leasing arrangements and of alternative taxation regimes on the efficient exploitation of mineral and energy resources. It also examines problems of environmental degradation and natural area conservation, with a focus on alternative policy tools and evaluation procedures available to governments to moderate pollution and other forms of environmental damage.

Students learn the economics of exhaustible, renewable, and environmental resources and the public policy issues that arise in seeking their efficient use. By the end of the course, students will be able to appreciate:

1. The importance of ill-defined property rights in the market allocation of these resources; and
   
2. Comparing costs and benefits across different periods of time in determining their optimal use.