About the course
This master’s course uses economic theory and mathematical modelling to analyse how natural resources are used, misused, and managed. Students build and apply formal models, evaluate and replicate the empirical literature, and use both to assess and design policies for sustainable resource management.
The course works through six themes: non-renewable resources; renewable resources in fisheries and in forests; biodiversity; water; and sustainability. Recurring questions include the optimal extraction of non-renewable resources, how market power affects the pace of depletion, and the open-access and commons problems that arise with renewable resources. Tutorials pair the theory with recent empirical papers.