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* 1. WHAT IS NATURAL RESOURCE ECONOMICS WHY IS IT IMPORTANT?AGEC 3503 SPRING 2006 Larry D. Sanders Dept. of Ag Economics Oklahoma State University INTRODUCTION Purpose: to understand the concept of natural resource economics and its relevance Learning Objectives: 1. Introduce the course how it is to be administered 2. Define key terms. 3. Understand the purpose of studying environmental natural resource economics. 4. Understand the classification of resources. INTRODUCTION Natural Resource Economics Syllabus Purpose Evaluation Schedule Importance of Student Activity Instructor/Philosophy Personal/Professional Background Teaching Philosophy Student Info “Anxiety Test” “The ultimate test of a set of economic ideas. . . is whether it illuminates the anxieties of the time. Does it explain problems that people find urgent? Does it bear on the current criticism of economic performance? . . . Does it bear upon the issues of political debate? For these, though many have always preferred to believe otherwise, do not ignite spontaneously or emerge maliciously from the mouths of agitators to afflict the comfortable.” --John Kenneth Galbraith, Economics the Public Purpose, 1973 [bold italics added by instructor] Where to get more information Syllabus Sources Hackett ERS-USDA AH722 Handouts Supplementary Readings Govt. Documents--Library Congress, Legislature, St/Fed Agencies Electronic sources (note biased vs. objective sources) “Experts” Team Exercise Instructor assigns teams Each team identify top 3 natural resource/environmental issues in 5 years Be prepared to briefly explain each issue Key Terms Natural Resources Specific attributes of the environment that are valued or have proven useful to humans [or have the potential to do so]* --G. Johnston Aspects of nature that can be used by humans to satisfy human wants--Hite Mulkey key to human use: technology, time, accessibility, appli-cation, perception; conflicts often related to culture Econom
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