Certificate in the Economics and Management of Natural Resources ...
Certificate in the Economics and Management of Natural Resources ...
Certificate in the Economics and Management of Natural Resources ...
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<strong>Certificate</strong> <strong>in</strong> <strong>the</strong> <strong>Economics</strong> <strong>and</strong> <strong>Management</strong> <strong>of</strong> <strong>Natural</strong> <strong>Resources</strong>, Energy, <strong>and</strong> <strong>the</strong>Environment (EMNREE)Department <strong>of</strong> <strong>Economics</strong>University <strong>of</strong> AlbertaIn cooperation with <strong>the</strong> Alberta School <strong>of</strong> Bus<strong>in</strong>ess, <strong>the</strong> Department <strong>of</strong> <strong>Economics</strong> at <strong>the</strong>University <strong>of</strong> Alberta <strong>of</strong>fers a <strong>Certificate</strong> <strong>in</strong> <strong>the</strong> <strong>Economics</strong> <strong>and</strong> <strong>Management</strong> <strong>of</strong> <strong>Natural</strong><strong>Resources</strong>, Energy, <strong>and</strong> <strong>the</strong> Environment (EMNREE).The purpose <strong>of</strong> this certificate program is to <strong>of</strong>fer economics undergraduate students access to astructured program <strong>in</strong> <strong>the</strong> study <strong>of</strong> <strong>the</strong> economics <strong>and</strong> management <strong>of</strong> natural resources, energy,<strong>and</strong> <strong>the</strong> environment.This <strong>Certificate</strong> is designed to provide students with a unique cross-discipl<strong>in</strong>ary look at relatedeconomic, bus<strong>in</strong>ess, <strong>and</strong> public policy issues. Students will have <strong>the</strong> opportunity to take classeswith students hav<strong>in</strong>g different viewpo<strong>in</strong>ts <strong>and</strong> academic tra<strong>in</strong><strong>in</strong>g on <strong>the</strong>se issues. Students willdevelop bus<strong>in</strong>ess <strong>and</strong> analytical skills that are applicable to <strong>the</strong> natural resources <strong>and</strong> energymarkets, <strong>and</strong> acquire a broad underst<strong>and</strong><strong>in</strong>g <strong>of</strong> <strong>the</strong> resource <strong>and</strong> energy <strong>in</strong>dustries. At <strong>the</strong> sametime, <strong>the</strong> l<strong>in</strong>ks between resource <strong>and</strong> energy questions <strong>and</strong> environmental issues are exam<strong>in</strong>ed.The <strong>Certificate</strong> <strong>in</strong> <strong>the</strong> <strong>Economics</strong> <strong>and</strong> <strong>Management</strong> <strong>of</strong> <strong>Natural</strong> <strong>Resources</strong>, Energy, <strong>and</strong> <strong>the</strong>Environment will be awarded only at <strong>the</strong> same time as a student receives a BA with a major orhonors <strong>in</strong> <strong>Economics</strong>.Admission to <strong>the</strong> <strong>Certificate</strong> <strong>in</strong> <strong>the</strong> <strong>Economics</strong> <strong>and</strong> <strong>Management</strong> <strong>of</strong> <strong>Natural</strong> <strong>Resources</strong>,Energy, <strong>and</strong> <strong>the</strong> Environment ProgramAdmission to <strong>the</strong> <strong>Certificate</strong> is by application to <strong>the</strong> Department <strong>of</strong> <strong>Economics</strong>. Application<strong>in</strong>formation will be posted on <strong>the</strong> Department <strong>of</strong> <strong>Economics</strong> website. Only students enrolled <strong>in</strong><strong>the</strong> major or honors programs <strong>in</strong> economics will be considered for admission. There are alimited number <strong>of</strong> spaces available (six new entrants per year). The <strong>Certificate</strong> program takestwo years to complete. Normally a student must have completed *60 prior to admission,<strong>in</strong>clud<strong>in</strong>g ECON 281, 282 <strong>and</strong> 299, <strong>and</strong> have a m<strong>in</strong>imum cumulative GPA <strong>of</strong> 3.0. The pr<strong>in</strong>cipalfactor used to rank applicants is <strong>the</strong> cumulative grade po<strong>in</strong>t average.Recruitment, assessment <strong>of</strong> applications <strong>and</strong> admission to <strong>the</strong> <strong>Certificate</strong> <strong>in</strong> <strong>the</strong> <strong>Economics</strong> <strong>and</strong><strong>Management</strong> <strong>of</strong> <strong>Natural</strong> <strong>Resources</strong>, Energy, <strong>and</strong> <strong>the</strong> Environment program is determ<strong>in</strong>ed by <strong>the</strong>Department <strong>of</strong> <strong>Economics</strong>. Each year, <strong>the</strong> Department will solicit applications to this program<strong>and</strong> set a program admission deadl<strong>in</strong>e.
<strong>Certificate</strong> <strong>in</strong> <strong>the</strong> <strong>Economics</strong> <strong>and</strong> <strong>Management</strong> <strong>of</strong> <strong>Natural</strong> <strong>Resources</strong>, Energy, <strong>and</strong> <strong>the</strong>Environment Program RequirementsStudents must complete all exist<strong>in</strong>g course requirements for a major or honors <strong>in</strong> <strong>Economics</strong>.In addition, students <strong>in</strong> <strong>the</strong> <strong>Certificate</strong> program <strong>in</strong> <strong>the</strong> <strong>Economics</strong> <strong>and</strong> <strong>Management</strong> <strong>of</strong> <strong>Natural</strong><strong>Resources</strong>, Energy, <strong>and</strong> <strong>the</strong> Environment must complete at least one <strong>of</strong> ECON 365, 366 or 369;<strong>and</strong> ECON 467, <strong>and</strong> a m<strong>in</strong>imum <strong>of</strong> an additional *18 from <strong>the</strong> follow<strong>in</strong>g designated courses:ECON 355, 361, 365, 366, 369; BLAW 301, 428; BUEC 463, 464; MGTSC 352. Studentsadmitted to this <strong>Certificate</strong> program will not be granted credit for both ECON 369 <strong>and</strong> BUEC464.Note: i)ii)This program requires that eight courses be taken out <strong>of</strong> a choice set <strong>of</strong> eleven.As fitt<strong>in</strong>g <strong>the</strong>se courses <strong>in</strong>to a student’s timetable may be challeng<strong>in</strong>g, at least four<strong>of</strong> <strong>the</strong>se courses should be taken <strong>in</strong> <strong>the</strong> first year <strong>of</strong> <strong>the</strong> certificate program.Possibilities <strong>in</strong>clude, for example, B LAW 301, B LAW 428, BUEC 463, BUEC464, MGTSC 352.It is unlikely that students <strong>in</strong> this program will be allowed to take more courses <strong>in</strong>Bus<strong>in</strong>ess than those required to meet <strong>the</strong>se program requirements<strong>Certificate</strong> <strong>in</strong> <strong>the</strong> <strong>Economics</strong> <strong>and</strong> <strong>Management</strong> <strong>of</strong> <strong>Natural</strong> <strong>Resources</strong>, Energy, <strong>and</strong> <strong>the</strong>Environment Course DescriptionsThe follow<strong>in</strong>g are descriptions <strong>of</strong> courses relevant to <strong>the</strong> <strong>Certificate</strong> <strong>in</strong> <strong>the</strong> <strong>Economics</strong> <strong>and</strong><strong>Management</strong> <strong>of</strong> <strong>Natural</strong> <strong>Resources</strong>, Energy, <strong>and</strong> <strong>the</strong> Environment program. While we try to keep<strong>the</strong>se descriptions up to date, <strong>the</strong>y are for <strong>the</strong> purposes <strong>of</strong> general <strong>in</strong>formation only. You shouldverify <strong>the</strong> descriptions <strong>and</strong> course prerequisites on Beartracks. Note that <strong>the</strong> Faculty <strong>of</strong> Bus<strong>in</strong>essaccepts ECON 299 as equivalent to MGTSC 312, <strong>and</strong> ECON 281 as equivalent to BUEC 311,for students <strong>in</strong> <strong>the</strong> certificate programs:B LAW 301 Legal Foundations <strong>of</strong> <strong>the</strong> Canadian Economy*3 (fi 6) (ei<strong>the</strong>r term, 3-0-0). Synoptic view <strong>of</strong> Canadian legal system, with emphasis onunderly<strong>in</strong>g considerations <strong>of</strong> social policy. While consider<strong>in</strong>g <strong>the</strong> nature, sources, philosophy,<strong>and</strong> policy objectives <strong>of</strong> <strong>the</strong> law, selected topics from <strong>the</strong> fields <strong>of</strong> tort <strong>and</strong> contract will beanalyzed. Credit will be granted for only one <strong>of</strong> B LAW 301 <strong>and</strong> ENGG 420.B LAW 428 <strong>Natural</strong> Resource <strong>and</strong> Environmental Law*3 (fi 6) (ei<strong>the</strong>r term, 3-0-0). The legal framework <strong>in</strong> which managerial decisions affect<strong>in</strong>g <strong>the</strong>environment are taken. Substance <strong>of</strong> environmental law <strong>and</strong> <strong>the</strong> procedures for enforc<strong>in</strong>g it.Interaction <strong>of</strong> this legal approach with bus<strong>in</strong>ess strategies for deal<strong>in</strong>g with environmental issuesis analyzed. Prerequisite: B LAW 301 or ENGG 420.
BUEC 463 Energy <strong>and</strong> <strong>the</strong> Environment: Industry Structure, Performance <strong>and</strong> Challenges*3 (fi 6) (ei<strong>the</strong>r term, 3-0-0). Uses <strong>the</strong> basic tools <strong>of</strong> bus<strong>in</strong>ess economics <strong>in</strong> order to ga<strong>in</strong> a betterunderst<strong>and</strong><strong>in</strong>g <strong>of</strong> energy markets <strong>and</strong> <strong>in</strong>dustries. Differences <strong>and</strong> similarities between specific<strong>in</strong>dustries (oil, gas, electricity, etc.) <strong>and</strong> between different <strong>in</strong>dustry segments (exploration,production, retail, etc.) are highlighted. New challenges faced by <strong>the</strong> <strong>in</strong>dustry, most notablyenvironmental concerns, but also globalization <strong>and</strong> new forms <strong>of</strong> competition, are analysed withrespect to <strong>the</strong> impacts that <strong>the</strong>y have had <strong>and</strong> might have <strong>in</strong> <strong>the</strong> future on firms’ strategies <strong>and</strong> onmarket performance. Prerequisite: BUEC 311.BUEC 464 Environmental <strong>Management</strong>*3 (fi 6) (ei<strong>the</strong>r term, 3-0-0). Introduction to <strong>the</strong> <strong>the</strong>ory <strong>and</strong> application <strong>of</strong> environmentaleconomics <strong>and</strong> its role <strong>in</strong> management <strong>and</strong> policy-mak<strong>in</strong>g. The course will cover development <strong>of</strong>a model <strong>of</strong> pollution control, evaluation <strong>of</strong> policy <strong>in</strong> this context, <strong>the</strong> sett<strong>in</strong>g <strong>of</strong> optimalenvironmental policies, <strong>and</strong> <strong>the</strong> application <strong>of</strong> <strong>the</strong>se policies. Particular policies <strong>and</strong> practicesimplemented <strong>in</strong> North America will be exam<strong>in</strong>ed. Prerequisites: BUEC 311 or consent <strong>of</strong> <strong>the</strong><strong>in</strong>structor.ECON 355 <strong>Economics</strong> <strong>of</strong> Project Evaluation*3 (fi 6) (ei<strong>the</strong>r term, 3-0-0). The use <strong>of</strong> cost-benefit analysis <strong>and</strong> o<strong>the</strong>r economic methods <strong>in</strong>evaluat<strong>in</strong>g public <strong>in</strong>vestment projects with examples from transportation, river bas<strong>in</strong>management, electrical generation, oil <strong>and</strong> gas, <strong>and</strong> pollution control. Prerequisite: ECON 101 or204 or equivalent.ECON 361 Transportation <strong>Economics</strong>*3 (fi 6) (ei<strong>the</strong>r term, 3-0-0). Travel dem<strong>and</strong> <strong>and</strong> choice <strong>of</strong> means <strong>of</strong> transport; cost concepts<strong>in</strong>clud<strong>in</strong>g economies <strong>of</strong> network size <strong>and</strong> traffic density; efficient pric<strong>in</strong>g <strong>of</strong> transport services<strong>and</strong> <strong>in</strong>frastructure; congestion <strong>and</strong> road pric<strong>in</strong>g; advanced traveller <strong>in</strong>formation technologies;airl<strong>in</strong>e regulation, deregulation <strong>and</strong> competition. Prerequisite: ECON 281. Not open to studentswith credit <strong>in</strong> ECON 461.ECON 365 Resource <strong>Economics</strong>*3 (fi 6) (ei<strong>the</strong>r term, 3-0-0). Issues <strong>in</strong> <strong>the</strong> production <strong>of</strong> exhaustible <strong>and</strong> renewable naturalresources, <strong>in</strong>clud<strong>in</strong>g exploration, extraction, <strong>and</strong> taxation; scarcity <strong>and</strong> pric<strong>in</strong>g; contemporaryCanadian resource policy issues. Prerequisite: ECON 101 or equivalent.ECON 366 Energy <strong>Economics</strong>*3 (fi 6) (ei<strong>the</strong>r term, 3-0-0). The economics <strong>of</strong> produc<strong>in</strong>g <strong>and</strong> consum<strong>in</strong>g energy: pric<strong>in</strong>g, role<strong>in</strong> economic growth; energy sources <strong>and</strong> market; <strong>the</strong> role <strong>of</strong> government; regulation <strong>and</strong> o<strong>the</strong>renergy policy issues. Prerequisite: ECON 101 or equivalent.ECON369 <strong>Economics</strong> <strong>of</strong> <strong>the</strong> Environment*3 (fi 6) (ei<strong>the</strong>r term, 3-0-0). Economic growth <strong>and</strong> <strong>the</strong> deterioration <strong>of</strong> <strong>the</strong> environment; types<strong>and</strong> causes <strong>of</strong> environmental deterioration; <strong>the</strong>ory, policy, <strong>and</strong> measurement relat<strong>in</strong>g toenvironmental deterioration; recreation economics; <strong>and</strong> current Canadian environmental topics.Prerequisite: ECON 101 or equivalent. Not open to students with credit <strong>in</strong> INT D 369 (Offeredjo<strong>in</strong>tly by <strong>the</strong> Departments <strong>of</strong> <strong>Economics</strong> <strong>and</strong> Rural Economy)
ECON 467 Environmental <strong>and</strong> <strong>Natural</strong> Resource Policy*3 (fi 6) (ei<strong>the</strong>r term, 3-0-0). Environmental <strong>and</strong> natural resource law; domestic <strong>and</strong> globalpolicy issues related to renewable <strong>and</strong> non-renewable resources. Prerequisites: MATH 113,ECON 281, <strong>and</strong> ECON 365 or ECON 366 or INT D 365 or INT D 369. Not open to studentswith credit <strong>in</strong> ECON 466.MGTSC 352 Operations <strong>Management</strong>*3 (fi 6) (ei<strong>the</strong>r term, 3-0-1). A problem-solv<strong>in</strong>g course which <strong>in</strong>troduces <strong>the</strong> student todeterm<strong>in</strong>istic <strong>and</strong> stochastic models which are useful for production plann<strong>in</strong>g <strong>and</strong> operationsmanagement <strong>in</strong> bus<strong>in</strong>ess <strong>and</strong> government. Note: Students are expected to have basic familiaritywith microcomputer applications. Prerequisite: MATH 113 <strong>and</strong> MGTSC 301 or STAT 151.
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