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.

The intended learning outcomes of the curricular unit are:
1. To kwow the concepts and methodologies used by the economic science
2. To understand the mechanisms of price formation in market economy and the relationship between economic factors and technical production levels;
3 To understand the relationships between the economie 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. The supply and demand for food
2.3. Market imperfections
2.4. Inputs markets
2.5. Profit maximization using production and costs functions;
3. Natural resources management
3.1.Natural resources tipology
3.2. Property rights, public goods and externalities
3.3. The issue of common property and open access
3.4 Environmental goods evaluation
3.5. General model of exploitation of a renewable resource
3.6. The extinction of renewable resources and the loss of biodiversity

• - Written Test (3 & 4) - 30.0%
• - Reports - 40.0%
• - Written Test (1 & 2) - 30.0%

NAO

FRANK, R. e BERNANKE, B. – Princípios de Economia. Lisboa: Mc Graw Hill, 2003.
GREGORY, G. – Resource Economics for foresters. New York: John Wiley & Sons, 1987.
KLEMPERER, W. – Forest resource economics and finance. New York: McGraw-Hill, 1996.
PERMAN, R .[et al.]. Natural resource and environmental economics. 3rd edition. Pearson: Herlow, 2003.
RANDALL, A. Resource economics: an economic approach to natural resource and environmental policy. 2nd ed. John Wiley & Son: New York, 1987.
SAMUELSON, P. e NORDHAUS, W. – Economia. 16 ª ed. Lisboa: Mc Graw Hill, 1999