Topics and readings 

Discussion problems  

Weekly essays 

Research paper  

Bulletin board 

MSU

Welcome to AEC 925: Environmental and Resource Economics Research. This is a course in the practice of environmental economics research. For Spring, 1999, the course focuses on valuing the services derived from natural capital and environmental resources. 

The course is an opportunity to: 

• Develop a professional level understanding of environmental valuation,
• Use the policy and professional literature to identify research needs,
• Develop a research paper, either alone or with colleagues, on a specific topic in environmental valuation.

Course Organization. The course is organized around two weekly meetings. The official meeting time is from 1 pm to 2:20 pm in Room 202 Olds Hall. Computer laboratory sessions, field work, and other activities may occasionally substitute for class sessions. Class sessions will include presentations by both students and instructor, discussions, group projects, and written exercises. Attendance at class sessions is essential. 

Topics. A proposed list of topics is attached. The list begins by considering the relationship between economic policy analysis, the bio-physical properties of natural and environmental resources, and valuation. Economic theory is used to identify valuation objectives and derive valuation methods. The content then focuses on stated preference valuation methods, especially contingent valuation. 

The instructor believes very strongly that an advanced course such as 925 should address the research interests of the participants. Specific topics are therefore open for discussion and negotiation between students and instructor. A final list of topics and readings will be handed out during the first two weeks of class after such discussions. 

Required Effort. The course requires a high level of motivation and commitment. Professional understanding and expertise come only with a great deal of work and willingness to fail. There will be many times when 'the answer' is not known. Research is a systematic, error prone process of finding an answer to a 'gap in knowledge'. You are expected to find answer by using your knowledge, creativity, and all the resources at your disposal, including the library, the web, and your colleagues. 

Student Products and Responsibilities: 

• Class participation: Interaction with colleagues is an essential part of research. Attend class sessions and find ways to contribute your best ideas.

• Readings: There will be one or two readings assigned in preparation for class sessions. Read them thoroughly. Be ready to present your understanding of the reading.

• Journal writing: Keep track of the development your ideas by writing a short journal entry every week-a minimum of 200 words. Submit the entry to the instructor by e-mail, hoehn@pilot.msu.edu. Put AEC 925 Essay in the subject heading of the e-mail. 

• Journal entries may be about anything. The only requirement is that they be at least 200 words long and submitted by Thursday evening during each week of the course. The first essay is due on January 21. No essay is required during spring break. Each entry is graded as a pass if submitted on time. Late entries receive a fail unless the instructor approves a late submission before the due date.

• Labs and worksheets: There will be occasional laboratory exercises and worksheets. These will have requirements specified when distributed.

• Research paper: This is a research oriented course. The research paper is the focal point for the course. It will be developed in stages over the course of the semester. It may be part of a group project or conducted alone. It should be a new project and not the rewritten version of some other paper. The paper is discussed in more detail on a separate sheet below.

FirstSearch: Econlit  

Citation index  

Business/economics 

Professional links

Hanemann and Kanninen working paper on "The Statistical Analysis of Discrete-Response CV Data