Natural Resource Economics

  1. Foundational Economic Principles
    1. Microeconomic Foundations
      1. Supply and Demand Analysis
        1. Law of Demand
          1. Law of Supply
            1. Market Forces
              1. Shifts vs Movements Along Curves
              2. Market Equilibrium
                1. Price Determination
                  1. Quantity Determination
                    1. Market Clearing
                      1. Effects of Market Shocks
                        1. Policy Intervention Effects
                        2. Consumer and Producer Surplus
                          1. Consumer Surplus Measurement
                            1. Producer Surplus Measurement
                              1. Total Welfare
                                1. Deadweight Loss
                                2. Elasticity Concepts
                                  1. Price Elasticity of Demand
                                    1. Price Elasticity of Supply
                                      1. Income Elasticity
                                        1. Cross-Price Elasticity
                                          1. Applications to Resource Markets
                                        2. Capital Theory and Investment
                                          1. Time Value of Money
                                            1. Present Value Concepts
                                              1. Future Value Concepts
                                                1. Discounting Principles
                                                2. Interest Rates and Resource Economics
                                                  1. Determinants of Interest Rates
                                                    1. Real vs Nominal Interest Rates
                                                      1. Impact on Resource Extraction Decisions
                                                        1. Impact on Conservation Decisions
                                                        2. Investment Decision Criteria
                                                          1. Net Present Value
                                                            1. Internal Rate of Return
                                                              1. Payback Period
                                                                1. Investment Under Uncertainty
                                                                  1. Risk Assessment in Resource Projects
                                                                2. Market Structure and Competition
                                                                  1. Perfect Competition
                                                                    1. Monopoly
                                                                      1. Oligopoly
                                                                        1. Monopolistic Competition
                                                                          1. Applications to Resource Markets