Natural Resource Economics

Not applicable

In order to achieve the objectives of the curricular unit and the development by students of the expected skills, the learning process is based on the articulation of several methodologies: 1)Lectures; 2) Practical assignments (exercises, text analysis, case studies); 3) Teacher-oriented research activities.

1. To know the concepts and methodologies used by the economic science
2. To understand the mechanisms of price formation in a market economy and the relationship between economic factors and technical production levels;
3 To understand the relationships between the economy and the natural resources;
4. To discuss options for the management of renewable natural resources.

1. Introduction

1.1. Fundamental problems facing the economy

1.2. Main methodologies used in economic science

1.3. The concepts of opportunity cost, willingness to pay, and willingness to accept

1.4. Production possibilities frontier

2. Market and economic agents

2.1. Economic circuits and relations between agents.

2.2. Supply and demand

2.3. Market imperfections

2.4. Public goods and externalities

2.5. Profit maximization using production and costs functions;

3. Natural resources management

3.1.Total Economic Value

3.2 The cost-benefit analysis: fundamentals, limitations, and applications

3.3. Forest land value

4. The theory of renewable natural resources

4.1 General model of a renewable resource use

4.2 The question of common property and open access

4.3. Private renewable resources: the forest

Continuous assessment:

The student must have a minimum lessons attendance  of 75%  and a minimum score of 10 points, obtained by the weighted average of the following assessment instruments:

- Written test covering points 1 and 2 of the syllabus: 30%;

- Written test covering points 3 and 4 of the syllabus: 30%;

- Practical,  individual and group, work, carried out in contact time and outside it: 40%.

 Note: The number and theme of the assignments vary according to the stage of the teaching-learning process, ranging from 8 to 10. The weight of each work is determined by the number of hours required to complete it and can range from 2.5% to 10%.

Final exam:

A student who is not approved by continuous assessment has access to a written examination covering all the syllabus. A student will be approved if in that examination he/she obtains a minimum score of 10.

NAO