The Master of Science in Applied Natural Resource Economics is a STEM program that allows students flexibility as they learn how to evaluate environmental and natural resource issues through an economic lens. Use this program to prepare for a PhD or to advance your career in industry or government.
Put your interest in natural and environmental resources to work for you. The curriculum emphasizes relevant topics including sustainability, environmental valuation, public policy analysis, economic theory, and commodity and other natural resources markets.
Start with core courses, then add the electives of your choosing — our program is diverse and customizable to your individual interests. You can take courses in other economics fields and from other disciplines including business, forestry, geology, engineering, social sciences, GIS, and technical communications. You can even choose to use your electives to complete a graduate certificate.
This thesis based program allows you to dig deep into a research area you are passionate about. Recent research areas — many of which emphasize interdisciplinary collaboration — include studies of:
- Great Lakes Fisheries
- Invasive species managementWinter tourism and climate change
- Aquaculture
- Economic impacts of mining in rural communities
- Regulation non-compliance amongst the oil and gas industry
- Wildfire risk and damage mitigation
The program now includes an accelerated option for Michigan Tech undergrad students!
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Our Faculty: Work With the Best
Our applied economics faculty are researchers, scholars, and leaders in their fields. They are incredibly active in research and professional organizations at the regional, national, and international level. Recently, members of our faculty have:
- Presented short courses in China, Mongolia, and South Africa
- Served as a founding member of the Center for Climate-driven Hazard Adaptation, Resilience, and Mitigation (C-CHARM)
- Conducted economic impact studies for local mining companies
- Contributed to applied local research through the Center for Economic and Business Analytics
Prerequisites
There are no required prerequisites for the MS in Applied Natural Resource Economics. You should have a background in statistics, analytics, and mathematics. The courses below, or their equivalents, would help you excel in this program.
- Calculus (MA1160 or equivalent)
- Principles of Economics (EC2001 or equivalent)
- Economic Decision Analysis (EC3400 or FIN4100 or equivalent)
- Statistics (MA2720 or equivalent)
Course Schedule
The 30-credit program is comprised of three components.
Core courses in statistics, finance, and economics—15 credits
- Approved course in statistical methods, usually EC4200 Econometrics
- EC5000 Microeconomic Theory or EC5300 Managerial Economics
- EC5400 Advanced Engineering Economics or FIN4100 Advanced Financial Management
- Two courses from:
Approved electives in specific field of interest—9 credits
Master's thesis—6 credits
Degree Options
MS in Applied Natural Resource Economics Program Objectives
- Graduates are expected to develop specialized knowledge in the economics of natural resources and the environment.
- Graduates are expected to develop an ability to evaluate resource projects.
- Graduates are expected to be capable of independent analysis using appropriate research tools and will be able to effectively communicate the results of this analysis in oral and written forms.