Instructor: Pendleton, Linwood
Subject area: Economics
Course number: 587
Year taught: Fall 1998
Prerequisites: ECON 487, ECON 500 or permission of the instructor.
Instructor's email: firstname.lastname@example.org
For additional information: http://www-rcf.usc.edu/~linwoodp/linwoodp.html#classes
Please note that the copyright for this syllabus is retained
by the instructor.
Each student will be required to make at least 1 or 2 class presentations (depending on class size) during the semester. Class presentations will be based on the journal articles listed in the syllabus. Class presentations are worth 40% of the final grade.
Students are required to write a research paper on any topic in natural resource economics. The paper is to be between 10 and 20 pages. The topic must be approved by Prof. Pendleton. The paper is worth 60% of the final grade.
The Professor evaluation for this course will be administered the last week of this semester.
I. Introduction to Resource and Environmental Economics
Willig, R. 1976. Consumer's surplus without apology. The American Economic Review. 66(4): pp. 589-597.
II. Dynamic Optimization of Welfare
Weitzman. 1994. On the Environmental Discount Rate. Journal of Environmental Economics and Management. 26: 200-209
Michael Hanemann (UC Berkeley): "Economic Explanations for the Divergence Between Willingness to Pay and Willingness to Accept"
III. Resource Rent and Property Rights
Schlager, E. and E. Ostrom. 1992. Property Rights Regimes and Natural Resources: A Conceptual Analysis. Land Economics 68(3):249-62.
Linwood Pendleton (in Development Seminar) "Modeling Environmental Quality as a Latent Variable"
III. General Resource Scarcity
Hall, D. and Hall, J. 1984. Concepts and Measures of Natural Resource Scarcity with a Summary of Recent Trends. JEEM. 11:363-379
Charles Kolstad (UC Santa Barbara)
Devarajan, S. and Fisher, A. 1982. Exploration and Scarcity. JPE
CVSK Sarma, tentative title "A CGE for India"
9) Slade, M. 1982. Trends in Natural Resource Commodity Prices: An Analysis of the Time Domain. JEEM
Michael Ward (UC Berkeley)
IV. Exhaustible Resources
10) Arrow, K. and Chang, S. 1982. Optimal Pricing, Use and Exploration of Uncertain Natural Resource Stocks
V. Renewable Resources
Discussion (10/26/98) Forest Mining
Berck, P. 1979. The economics of timber: a renewable resource in the long-run. Bell Journal of Economics
Andres Lerner (UCLA) "A Model of Intra-industry Competition for Regulatory Capture: Effluent Standard-setting in the Pulp & Paper Industry"
Tietenberg Chap 11
Howe, C.W. Natural Resource Economics. 1979. Wiley & Sons.
Chap 11 - The Economics of Forest Management
Biological Timber Management
Economic Timber Management
The Faustmann Formula
Non-timber Forest Benefits
David Layton (UC Davis), "Heterogeneous Preferences Regarding Global Climate Change"
Provenchar, B. 1995, Issues in the Conjunctive Use of Surface Water and Groundwater, in the Handbook of Environmental Economics, Bromley
Robert Mendelsohn (Yale University), "Global Impact Model: Estimating Country-Specific Damages From Climate Change"
C. Open Access Resources:
Haveman, R. 1973. Common Property, Congestion, and Environmental Pollution. QJE 87:278-287
Anna Alberini (CU Boulder), "Incentives Posed By Strict Liability For Toxic Spills"
The Schaefer Model
Economic Versus Biological Management
Assigning Property Rights
ITQ's Shellfish Leasing
Bell, F. 1972. Technological Externalities and Common Property Resources:
An Empirical Study of the U.S. Northern Lobster Fishery. JPE 80:148-153
Seminar (12/04)98 Robert Friedheim, USC
VI. Environmental Economics
Wietzman, M. 1975. Prices vs. Quantities. Review of Economic Studies. pp. 477-491.
Grouped more or less by week:
|Lectures 1-4||Lecture 5-6||Lecture 7-10||Water|
|Open Access||Fisheries||Tropical Deforestation||Sustainability|
Logging vs. Fisheries and Tourism exercise
Answers to Problem Sets
Practice Questions for the Mid-Term
Core Forumulae for the Mid-Term
Practice Questions for the Final Exam
Answers to the Mid-term