INTRODUCTION TO QUANTITATIVE METHODS IN RESOURCE AND ENERGY ECONOMICS

AAE 771

Applying economic theory to the practice of resource and energy demand analysis. Topics include consumer demand theory and the proper modeling of demand systems, theoretical underpinnings of behavioral economics, welfare theory, cost benefit analysis and cost-effectiveness analysis, and technology adoption and diffusion.

AAE/ECON 526

Use of quantitative methods (mathematics, statistics, and optimization) to analyze problems faced by decision makers in natural resources and agriculture. Extensive homework requiring use of quantitative methods via spreadsheet tools to solve problems from an applied decision context.

AAE 773

Current issues in resource and demand analysis, with presentations by academic researchers and industry professionals, to introduce students to current issues in resource and demand analysis, and to develop their critical thinking about addressing these issues.

AAE 670

The fundamental mathematics and statistics necessary for the study of quantitative methods in agricultural and applied economics (AAE). Topics include the mathematics of optimization and its role in basic welfare theory and consumer demand; linear and matrix algebra and their application in both modeling consumer behavior and the statistical analysis of models; and the fundamentals of statistical analysis relevant to econometric analysis, including probability theory, sampling distributions and statistical inference.

AAE 772

The estimation of the economic models of resource and energy demand, including evaluation of energy and resource programs, estimating demand systems in the study of dynamic pricing models, estimating discrete choice models, forecasting resource and energy demand from econometric models, and topics in the application of big-data analytics in resource and energy demand analysis.