The study of economic issues involved in development and maintenance of human environment. Major emphasis is directed toward evaluating welfare implications of these environmental issues. A study of the economic issues associated with renewable and nonrenewable resources. Special emphasis is directed toward hard rock minerals, fossil fuels, fisheries and forestry resources. Issues of optimal extraction and depletion, effect of alternative market structures, and role of uncertainty are addressed with regard to efficient management and allocation of these resources.
Emphasis is on the federal aspect.
The study of state and local revenues, expenditures, fiscal administration and policies, with special emphasis on Wyoming problems. The gains from specialization and trade are studied, as are explanations of trade patterns among countries, policies affecting trade such as tariffs, quotas, tax breaks, subsidies, cartels and price stabilization plans. Topics on labor migration and multinational corporations are covered. The focus is on foreign exchange markets, balance of payments analysis and effects of international trade and capital flows on the domestic economy. Policies to correct payment deficits, gold, international liquidity and international financial institutions are studied.