Managing Renewable Resources

Slides [link]


Lecture 1

Managing renewable resources - Theory

Required

Response questions

  1. Figure 7.5 describes the maximum sustainable yield. Is this point economically efficient? Why or why not?

Lecture 2

Solving the problem with property rights

Required

Response questions

  1. When quotas were initially imposed, Halibut fishing in Alaska became more deadly. Why did assigning individual property rights make the fishery safer?

Key Points