Courses counting towards the University of Maryland's Certificate in Ecological Economics Economics requirement A two course sequence with at least one 600 level or above microeconomics course (ie., PUAF 640, AREC 610, or ECON 603, subject to permission of the department) followed by a 600 level environmental/natural resource economics course (ie. AREC 689P) is required. PUAF 640 - Microeconomics and Policy Analysis applies intermediate microeconomic theory to public policy issues: resource allocation by firms and consumers; the response of economic agents to changes in incentives; market allocations in competitive and non-competitive environments; and market failures and government remedies. Uses extended case studies of particular issues in such areas as the environment (acid rain), international trade (tariffs), industry regulation (cable TV), and the provision of public goods (highways). Prerequisites: college level algebra (calculus recommended), Math Immersion Course or equivalent. Credits: 3. Faculty: Lopez, Ruth, Stearns ECON 603 - Microeconomic Analysis I (3 credits) : three hours of lecture and two hours of laboratory per week. Prerequisite: ECON 600 or permission of department. A detailed treatment of the theory of the consumer and of the firm, particularly emphasizing the duality approach. Topics include the household production model, imperfect competition, monopolistic and oligopolistic markets. AREC 610 - Microeconomic Applications in Agricultural Markets: perequisite: ECON 603. Three hours of lecture and 1½ hours of discussion per week. Applications of graduate level microeconomic analysis to the problems of agricultural and natural resource production and distribution including demand for agricultural output, the nature of agricultural supply decisions, farm labor issues, land rental and acquisition, and exploitation of natural resources. Capstone requirement The following two courses are both required: PUAF 743 - Ecological Economics: explores the linkages between the environment and economics assuming that the economy is a subsystem of a larger, but finite, ecosystem. Examines the need to re-conceptualize National Income Accounts, find new ways to value resources such as wetlands and forests, and consider the scale of human economic activity as it pertains to the biosphere and other species. Prerequisites: None. Credits: 3. Faculty: Daly. PUAF 698 - Dynamic Modeling of Ecological and Economic Systems: examines dynamic systems modeling with applications to both ecological and economic systems over several spatial and temporal scales. Provides extensive dynamic modeling experience. Prerequisites: none. Credits: 3. Faculty: Ruth. |
