Resource Economics and Policy

The School of Economics administers the Master of Science in Resource Economics and Policy, and participates in the Master of Science in Ecology and Environmental Sciences.

The Master of Science in Resource Economics and Policy program emphasizes applied economics (i.e., a greater emphasis on practical applications than theory). Specifically, the program stresses how economic theory and tools can be applied to environmental, natural resource, energy, agricultural, and economic development problems. Students enrolled in the M.S. in Resource Economics and Policy program combine core training in microeconomic theory and quantitative methods with specialized environmental, natural resource, agricultural, and energy economics and policy training.

Students enrolled in the Master of Science in Ecology and Environmental Sciences and advised by School of Economics faculty similarly combine training in microeconomic theory and quantitative methods, environmental and natural resource economics and policy, and specialized courses covering a range of ecology and environmental topics.

Graduate students in both M.S. programs acquire the skills and knowledge to apply economic theory and tools to address interesting policy and management problems. The School of Economics creates numerous opportunities for graduate students to expand their horizons by involving them in ongoing research projects, partnering them with public and private sector institutions, and placing them in innovative internship experiences.

Graduates from both M.S. programs acquire strong analytical, quantitative, and communication skills, which prepares them for doctoral study in economics, environmental policy, resource management, and related fields and employment with government agencies, consulting firms, businesses, and non-profits. Both M.S. programs prepare students for employment in positions requiring advanced analytical skills, knowledge of economic systems and methods, and experience conducting analyses of policy issues. Recent graduates have gone on to attain leadership positions in state government, to become economic analysts for federal agencies, to work for economic and environmental consulting firms, or have continued their educations at some of the leading Ph.D. institutions in the country.

Admission Requirements

Acceptance into the School of Economics graduate programs is competitive. An undergraduate degree in economics or a related field is desirable, but is not essential for admission to this program. The School is much more concerned with the applicant’s capacity for graduate study and the quality of previous work. The successful applicant has a strong academic record, high scores on the GRE, and outstanding recommendations. All of the School’s programs require some training in economics and quantitative methods; students are required to complete the following prerequisites before entering the graduate program:

Intermediate microeconomic theory (equivalent to UM’s ECO 420)
Statistics (equivalent to UM’s MAT 215 or 232)
Calculus (equivalent to UM’s MAT 115, 126, or 151)

Other general admission criteria are described in the general section of this catalog.

Master of Science in Resource Economics and Policy

Successful completion of 30 credit hours of course work is required for the Master of Science in Resource Economics and Policy Degree. Students also must pass an oral examination before the completion of their program.

The Master of Science in Resource Economics and Policy has both thesis and non-thesis options. The thesis option of the program offers students an opportunity to complete an independent research project. The non-thesis option of the program is designed for students who wish to obtain greater breadth in their coursework and job experience through a project rather than undertake a thesis.

The core courses for this M.S. degree provide the student with the tools and problem-solving skills applicable to the economic analysis of a wide variety of public policy issues. Elective courses allow students flexibility in designing programs to meet their needs.

Graduate students in this program are required to complete the following sequence of courses:

ECO 514 - Microeconomic Theory Credits: 3
ECO 515 - Advanced Microeconomics Credits: 3
ECO 530 - Econometrics Credits: 3
ECO 531 - Advanced Econometrics and Applications Credits: 3
ECO 571 - Advanced Environmental and Resource Economics I Credits: 3
ECO 572 - Advanced Environmental and Resource Economics II Credits: 3
Additional coursework is developed in consultation with the student’s advisory committee. The areas of interest, background, and future needs of the student will be considered in planning the program of study.

Master of Science in Ecology and Environmental Sciences

Successful completion of 30 credit hours of course work is required for the Master of Science in Ecology and Environmental Sciences. Students also must pass an oral examination before the completion of their program.
The Master of Science in Ecology and Environmental Sciences has both thesis and non-thesis options. The thesis option of the program offers students an opportunity to complete an independent research project. The non-thesis option of the program is designed for students who wish to obtain greater breadth in their coursework and job experience through a project rather than undertake a thesis.

The M.S. program in Ecology and Environmental Sciences, as implemented by the School of Economics, is designed for students who are interested in applied economics and policy training but wish to pursue an interdisciplinary program of study for their graduate programs. Students advised and funded by School of Economics faculty are trained to approach environmental policy and natural resource management from an economics perspective. In turn, students supported on a Graduate Assistantship from the School of Economics are required to take a core of research, economic, and statistics courses, or demonstrate they have this knowledge from previous course work, in order to actively participate in faculty research projects.

The core courses for the School of Economics’ version of this M.S. degree provide the student with the tools and problem-solving skills applicable to the economic analysis of a wide variety of environmental policy and natural resource management issues. Elective courses allow students flexibility in designing programs to meet their needs and interdisciplinary interests. Graduate students in this program are required to complete the following sequence of courses:

ECO 514 - Microeconomic Theory Credits: 3
ECO 530 - Econometrics Credits: 3
ECO 571 - Advanced Environmental and Resource Economics I Credits: 3
ECO 572 - Advanced Environmental and Resource Economics II Credits: 3
Additional coursework is developed in consultation with the student’s advisory committee.

Student Support

The School has a number of research and teaching graduate assistantships available for qualified students on a competitive basis. Efforts are made to match the student’s interests and background with the needs of the School. Scholarship funding is also available. Graduate assistantships ($14,600-$20,000 per year) and scholarships are awarded on a competitive basis. The faculty nominates top-ranking applicants for these awards; funding support includes stipends, tuition costs, and subsidized health insurance coverage. Additional funds are provided to students on a competitive basis to cover research expenses.
For details on funding opportunities and for other information, contact Jonathan Rubin, Graduate Coordinator, School of Economics via email at rubinj@maine.edu. Further information can be found on the School’s website at http://www.umaine.edu/soe/

Graduate Faculty

The School of Economics Graduate Faculty includes faculty with economics, engineering, law, psychology, and human ecology expertise.

Mark Anderson, M.S. (University of Maine, 1980), Senior Instructor. Recreation and land management, ecological economics, higher education assessment, and sustainability science.

Kathleen Bell, Ph.D. (University of Maryland, 1997), Associate Professor. Environmental economics, public economics, and spatial economics.

James Breece, Ph.D. (Boston College, 1982), Associate Professor. Macroeconomics, international trade, economic forecasting.

Xuan Chen, Ph.D. (North Carolina State University, 2013), Assistant Professor. Risk Management, Agricultural Finance, Production Economics, Spatial Econometrics

Hsiang-Tai Cheng, Ph.D. (Virginia Polytechnic Institute, 1985), Associate Professor. Marketing, food demand, and econometrics.

George K. Criner, Ph.D. (Washington State, 1983), Professor. Production, marketing, waste management, international agricultural and resource trade issues, and business economic support.

Keith S. Evans, Ph.D. (Iowa State University, 2011 ). Assistant Professor. Marine Resource Economics; Non-market Valuation; Applied Econometrics

Todd Gabe, Ph.D. (Ohio State University, 1999), Professor. Regional and community economic development and public finance.

Gary L. Hunt, Ph.D. (University of Colorado-Boulder, 1984), Professor. Energy economics and regional and international economic growth and development.

Sharon Klein, Ph.D. (Carnegie Mellon University, 2011), Assistant Professor. Renewable energy, energy economics and policy, environmental impacts of electricity generation, energy generation, and energy storage.

James McConnon, Ph.D. (Iowa State University, 1989), Professor. Regional and community economic development, innovation, and small business management.

Michael Montgomery, Ph.D. (University of Florida, 1988), Associate Professor, Macroeconomics, monetary theory, and austrian economics.

Caroline Noblet, Ph.D. (University of Maine, 2013), Assistant Professor. Environmental economics and psychology.

Jonathan Rubin, Ph.D. (University of California-Davis, 1993), Professor. Environmental regulation and design, economics of alternative transportation fuels and vehicles, economics of greenhouse gas reductions.

Linda Silka, Ph.D. (University of Kansas, 1978), Professor and Director of the Margaret Chase Smith Center. Community-university partnerships, research ethics, and program evaluation.

Mario Teisl, Ph.D. (University of Maryland, 1997), Professor and Director of the School of Economics. Information economics, food safety, environmental and social marketing, and environmental economics.

Philip Trostel, Ph.D. (Texas A & M University, 1991), Professor. Human capital and savings, public economics, and labor economics.

Tim Waring, Ph.D. (University of California-Davis, 2010), Assistant Professor. Sustainability, cultural evolution, and human culture and cooperation.

Greg White, Ph.D. (Washington State University, 1976), Professor. Marketing, finance, and business administration.