Natural Resource Economics College Major Description

By LeadLake Team   /   Job Category   /   2023


The Natural Resource Economics major is an excellent choice for students interested in environmental economics and policy. The major provides a strong foundation in economic theory and quantitative methods, as well as in-depth knowledge of natural resource and environmental issues. Students will learn about the economic principles governing the use and allocation of natural resources, and the economic and policy instruments available to manage environmental problems. The major will equip students with the skills and knowledge necessary to pursue careers in government, environmental organizations, the private sector, and academia.

What They Learn

The Natural Resource Economics major studies how to manage and conserve natural resources in an efficient and sustainable manner. The coursework focuses on how to optimize the use of natural resources while taking into account environmental and socio-economic objectives. Students learn to apply economic principles and quantitative methods to real-world problems in natural resource management. The major prepares students for careers in public policy, environmental consulting, and resource management.

Graduates Expectation

The Natural Resource Economics major expects students to develop a basic understanding of economic principles and how they relate to the stewardship of natural resources. Additionally, the major requires students to develop skills in natural resource policy analysis and quantitative methods.

Job Market and Opportunities

The Natural Resource Economics job market is quite competitive. The nature of the field requires a lot of technical skills and experience. The majority of jobs are found in the government and private sector. There are a few international organizations that offer positions in this field as well.

Program Challenges

There is a need for those who wish to study natural resource economics to be able to identify and analyze the economic problems related to the use and management of natural resources. In addition, students must be familiar with the methods and tools of economic analysis and be able to apply them to natural resource problems. The coursework for a natural resource economics degree should provide students with a solid foundation in microeconomics and macroeconomics, as well as in statistics and econometrics.

Career Projection

The Natural Resource Economics projected to grow by about 6 percent from 2019 to 2029, much faster than the average for all occupations. The demand for environmental protection and the need for natural resource management is projected to spur job growth. In addition, increasingly stringent environmental regulations are anticipated to lead to more opportunities for natural resource economists.

Is Natural Resource Economics Major For You?

If you have a passion for the environment and want to learn about how natural resources are managed, then a major in Natural Resource Economics may be the right fit for you. In this type of program, you'll study topics such as environmental policy, resource management, and economics. You'll also gain practical experience through internships and research projects. A Natural Resource Economics degree can prepare you for a career in environmental consulting, government, or nonprofit organizations.

Good to Know

To be a successful natural resource economist, you need to have strong skills in mathematics, statistics, and economics. You must be able to think critically and identify trends in data. You should also be able to effectively communicate your findings to policy makers and the general public.

Major Tips

If you are looking to study natural resource economics, there are a few things you can do to make sure you succeed. First, it is important to get a strong foundation in micro and macroeconomics. Next, you should familiarize yourself with environmental issues and the relevant policies. Finally, it is helpful to take courses in mathematics and statistics. With a solid foundation, you will be well-prepared to study natural resource economics and make a positive impact on the world.

1. Be sure to develop a strong foundation in microeconomic theory. Natural resource economics is heavily based on microeconomic principles.

2. Be familiar with economic concepts such as opportunity cost, discounting, and present value. These concepts are essential for understanding natural resource economic issues.

3. Be knowledgeable about natural resource issues. Familiarity with the literature on natural resource economics will give you a leg up in this field.

4. Finally, don’t forget the basics! Make sure you have a strong understanding of basic economics concepts like supply and demand.

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