Resource Economics and Policy

The Master of Science in Resource Economics and Policy program emphasizes how economic theory and tools can be applied to environmental, natural resource, energy, agricultural, and economic development problems. Students enrolled in the program combine core training in microeconomic theory and quantitative methods with specialized environmental, natural resource, agricultural, and energy economics and policy training.

Graduate students in the Resource Economics and Policy program 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 Resource Economics and Policy program 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. The program prepares 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 of Economics is much more concerned with the applicant’s capacity for graduate study, quantitative reasoning and the quality of previous work. The successful applicant has a strong academic record, high scores on the GRE, and outstanding recommendations. Graduate degrees in the School of Economics 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 ECO 420)
Statistics (equivalent to MAT 215 or 232)
Calculus (equivalent to MAT 115, 126, or 151)
Econometrics (equivalent to ECO 485) is strongly recommended

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

Degree Requirements

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 is more demanding and intensive, but offers students an opportunity to complete an independent research project under the guidance of an economics faculty member. The non-thesis option is designed for students who wish to obtain greater breadth in their coursework and job experience through internships.

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 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.

Thesis Track:
- Three additional graduate-level ECO elective courses (9 credits); and
- 6 credits of ECO 699 Graduate Thesis
Non-Thesis Track:
- Four additional graduate-level ECO elective courses (12 credits); and
- ECO 597 Independent Study

Student Support

The School of Economics awards graduate assistantships to qualified students on a competitive basis. Graduate assistantships may be awarded for assistance with either research or teaching. Efforts are made to match the student’s interests and background with the needs of the School. Scholarship funding is also available. The faculty nominates top-ranking applicants for these awards; funding support includes a stipend, tuition costs, and subsidized health insurance coverage. Additional funds are provided to students on a competitive basis to cover research expenses. Graduate assistantships require 20 hours of work per week. For details on funding opportunities contact the Graduate Coordinator of the School of Economics via the 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.

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.

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

Christine Beitl, (University of Georgia, 2012) Cooperating Assistant Professor of Anthropology, Ph.D. Ecological and Environmental Anthropology. Intersections of socio-political, ecological, and economic systems.

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

Mindy Crandall, (Ph.D. Applied Economics, Minor in Forest Resources, Oregon State University) Cooperating Assistant Professor. Forest Management, Forest Products Markets, Alternative Economic Development.

Andrew Crawley, (Ph.D., Economics, University of Glamorgan) Assistant Professor in Regional Economic Development. Economic impact, economic modeling.

Adam Daigneault, (PhD, Environmental & Natural Resource Economics, The Ohio State University) Cooperating Assistant Professor of Forest, Conservation, and Recreation Policy. freshwater management, climate change mitigation and adaptation, invasive species control, valuing ecosystem services

Angela Daley, (Ph.D., Economics, Dalhousie University) Assistant Professor of Health Economics and Policy. Health and labor economics, poverty and inequality, social policy, children and families, rural and remote communities including aboriginal people

Keith S. Evans, (Ph.D., Economics, Iowa State University) Assistant Professor. Search; learning; Information sharing; fishery management; nonmarket 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.

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.

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.