Natural Resource Economics

Basic Macroeconomics

To achieve the objectives of the course and the acquisition of the desired skills by the students, the teaching-learning process will be based on the articulation of different methodologies: 1. Lectures; 2. Practical applications (exercises, analysis of texts, case studies); 3. Teacher oriented research activities.

The learning outcomes of the curricular unit are:
1. To understand the mechanisms of price formation in the market economy and the economic relationship between input and production levels;
2. To know the specificities of natural resources under the economic point of view;
3. To understand the economic concepts and the financial tools needed for decision making on the management of renewable natural resources, particularly forests.

1. Introduction:
1.1. Fundamental economic problems;
1.2. Methodologies used in economic science;
1.3. Concepts of opportunity cost and the willingness to pay and to accept;
1.4. Production possibilities frontier.
2. Economic agents and markets
2.1. Economic circuit and relations between agents;
2.2. Supply and demand;
2.3. Market imperfections;
2.4. Public goods and externalities;
2.5. Levels of production and ainput use that maximize profit based on production and costs functions .
3. The assessment of natural resources
3.1. Total economic value
3.2. Cost-benefit analysis: foundations, limitations and applications
3.3. The value of forest land
4. The theory of renewable natural resources
4.1 General model of exploitation of a renewable resource
4.2 The issue of commons and free access
4.3. Private renewable resource: forest

• - Exame escrito - 100.0%

• - Teste escrito - 50.0%
• - Trabalhos práticos - 50.0%

NAO