Economics (Arts) : The concept of optimal resource management and the associated rules, such as Hotelling's rule and Faustmann's rule. Implications of the need to sink capital for equilibrium in resource utilization under certainty and uncertainty. Conditions under which there is market failure and the merits of price and quantity instruments.
Terms: This course is not scheduled for the 2012-2013 academic year.
Instructors: There are no professors associated with this course for the 2012-2013 academic year.