THE UNIVERSITY OF THE WEST INDIES

FIVE ISLANDS CAMPUS, ANTIGUA AND BARBUDA

SCHOOL OF MANAGEMENT, SCIENCE AND TECHNOLOGY

ECON 3034 – Resource and Environmental Economics – SEMESTER I

TUTORIAL SHEET 5

1. ‘An examination of natural resource matters ought to recognise technical/scientific, economic

and socio-political considerations.’ Explain.

2. Discuss the possible effects of technical progress on resource substitutability.

3. One current practice is to calculate the years remaining for a depletable resource by taking the
prevailing estimates of current reserves and dividing it by current annual consumption. How
useful is that calculation? Why?

October 9, 2021