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Resource Economics, by Jon M. Conrad
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Resource Economics is a text for students with a background in calculus and intermediate microeconomics and a familiarity with the spreadsheet software Excel. The book covers basic concepts (Chapter 1), shows how to set up spreadsheets to solve simple dynamic allocation problems (Chapter 2), and presents economic models for fisheries, forestry, nonrenewable resources, and stock pollutants (Chapters 3-6). Chapter 7 examines the maximin utility criterion when the utility of a generation depends on consumption of a manufactured good, harvest from a renewable resource, and extraction from a nonrenewable resource. Within the text, numerical examples are posed and solved using Excel's Solver. Exercises are included at the end of each chapter. These problems help make concepts operational, develop economic intuition, and serve as a bridge to the study of real-world problems in resource management.
- Sales Rank: #417716 in Books
- Brand: Brand: Cambridge University Press
- Published on: 2010-06-14
- Original language: English
- Number of items: 1
- Dimensions: 8.98" h x .67" w x 5.98" l, 1.05 pounds
- Binding: Paperback
- 300 pages
- Used Book in Good Condition
Review
"Jon Conrad's second edition of Resource Economics is an articulate, well-organized presentation of key applications of intertemporal economics to problems of natural resources. More than a routine update of the first edition, it admirably balances theoretical rigor and clarity in the presentation of models, with the kinds of institutional discussions that motivate students to think about research questions." - Robert T. Deacon, University of California, Santa Barbara
"This book builds on the already-excellent first edition, with its unique focus on computational solution of dynamic optimization problems, by providing a richer and more detailed discussion of theoretical models of renewable, nonrenewable, and environmental resource management along with very helpful discussion of the intuition behind the models, and applications to resource problems." - Anthony Fisher, University of California, Berkeley
"Jon Conrad's Resource Economics is a unique and indeed indispensable learning resource. It teaches students to work with sophisticated mathematical models using a hands-on, intuitive approach based on the standard spreadsheet tools that are now pervasive in quantitative analysis. Conrad's book sets a standard to which other textbook authors should aspire." - Richard Howarth, Dartmouth University
"Jon Conrad's second edition of Resource Economics is an elegant mathematical treatment of the many complex management issues confronting natural resource managers. The book presents dynamic modeling and optimization in a practical context. The use of Excel throughout the book gives it a concreteness that is lost in purely theoretical texts. It is an ideal advanced text covering the economics of fisheries, forestry, nonrenewable resources, and stock pollutants." - Robert Mendelsohn, Yale University
"Resource Economics is an excellent choice for advanced undergraduates and master's students. The book's use of Excel's solver gives students an intuitive grasp of dynamic optimization without relying on advanced mathematics. Students analyze fisheries, forests, and fossil fuels as they learn spreadsheet programming skills that are valuable in other economics, business, and management courses." - Martin Smith, Duke University
"I wish there had been a textbook such as Jon Conrad's Resource Economics available when I was a young student beginning to learn about natural resource and environmental economics. This is a rigorous but highly accessible mathematical introduction to the field that brings home to the reader the fundamental common threads, as well as the differentiating factors, among nonrenewable, renewable, and environmental resource problems." - Robert N. Stavins, Harvard University
About the Author
Jon M. Conrad is Professor of Resource Economics in the Department of Applied Economics and Management at Cornell University. He taught at the University of Massachusetts, Amherst, from 1973 to 1977, joining the Cornell faculty in 1978. His research interests focus on the use of dynamic optimization techniques to manage natural resources and environmental quality. He has published articles in the Journal of Political Economy, the Quarterly Journal of Economics, the American Journal of Agricultural Economics, the Canadian Journal of Economics, Land Economics, Marine Resource Economics, Biomathematics, Ecological Economics, Natural Resource Modeling and the Journal of Environmental Economics and Management, where he served as an associate editor. He is coauthor, with Colin Clark, of the text Natural Resource Economics: Notes and Problems (Cambridge University Press, 1987) and past President of the Resource Modeling Association. Cambridge University Press published the first edition of Resource Economics in 1999.
Most helpful customer reviews
4 of 4 people found the following review helpful.
Most Accessible but Complete Resource Economics Introduction
By D. Squires
This book is the most accessible but complete and intellectually rigorous introduction to resource economics available. The book is ideal for the advanced undergraduate or master's student. The book is useful for the Ph.D. student or practitioner in the field as a first introduction to set the intuition before tackling more comprehensive and rigorous texts, such as Dasgupta and Heal or Clark. The exposition is complete but succinct, getting straight to the point.
2 of 2 people found the following review helpful.
A decent textbook for NRE
By Tommy H
Book does a good job describing intuition about NRE but the math and pages are poorly laid out. Graphs and data that is needed on one page may be split up 2-3 pages later
1 of 1 people found the following review helpful.
Best environmental & resource economics text I have ever seen.
By Matthew Agarwala
I am a graduate student at McMaster University in Canada and at the United Nations University - Institute for Water, Environment, and Health. This is by far the best environmental and resource economics text book I have ever seen. Conrad takes the reader through the basic tools of resource economics with clear, relevant examples explained in an accessible and detailed fashion. The text applies formal, mathematical tools of economic analysis to the problems of resource economics, making them accessible to non mathematicians. This book is written for the advanced undergraduate or early graduate level. I purchased a spare copy as a gift for my supervisor who intends to use it as the required text when he teaches environmental economics. I do not understand why this book is so inexpensive - but it is certainly much appreciated by graduate students.
If you are a student, this is the book you want.
If you are a professor, this is the book your students want.
For a higher level, second graduate course, see Conrad & Clark, "Natural resource economics: Notes and problems"
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