Resource Economics

Resource Economics

Resource Economics is a text for students with a background in calculus, intermediate microeconomics, and a familiarity with the spreadsheet software Excel. The book covers basic concepts, shows how to set up spreadsheets to solve dynamic allocation problems, and presents economic models for fisheries, forestry, nonrenewable resources, stock pollutants, option value, and sustainable development. Within the text, numerical examples are posed and solved using Excel's Solver. Through these examples and additional exercises at the end of each chapter, students can make dynamic models operational, develop their economic intuition, and learn how to set up spreadsheets for the simulation of optimization of resource and environmental systems.


"In this book, Jon Conrad, a leading resource economist, develops a new and exciting approach to conveying the basic theory of natural resource economics. Through a series of numerical, non-linear programming problems that students can solve with Excel spreadsheets, the fundamental theory of renewable and non-renewable resource economics comes to life. Without resorting to more advanced dynamic optimization methods, Conrad guides the reader through key results in a way that makes those results intuitive and hence more understandable." Robert N. Stavins, John F. Kennedy School of Government, Harvard University

"This book, with its unique focus on computational solution of problems of dynamic optimization, provides a valuable approach to the economics of natural resources." Anthony Fisher, University of California at Berkeley

"Intermediate-level textbook in resource economics casts resource management as a problem of dynamic optimization and uses Microsoft Excel Spreadsheet and Solver to solve numerical problems." Journal of Economic Literature