Fishery
Start with a review of Classwork 5, then begin Lecture 6: Fishery Dynamics and Management with a graphical study of fish stocks, growth, and harvest. Consolidate the course toolkit with the quiz and midterm review on Friday; fisheries dynamics, policy, and institutions continue after the exam in Week 9.
Focus
- Classwork 5: allocation across generations
- Stock growth and sustainable harvest
- Quiz and cumulative midterm preparation
Prepare
- Bring Classwork 5 and identify questions about the gravel allocation
- Read TL Chapter 8 for fisheries dynamics
- Bring one unresolved question from Weeks 1–8
Practice
- Review marginal net benefit, present value, and user cost in Classwork 5
- Use growth and harvest graphs to predict stock change
- Complete the quiz and targeted review
Guiding question
How can fisheries rules protect a renewable stock while preserving the benefits it generates?
Learning targets
- Explain the allocation of gravel across generations using marginal net benefit, present value, and user cost.
- Use growth and harvest graphs to explain whether a fish stock rises or falls.
- Distinguish maximum sustainable yield from an economically efficient sustainable harvest.
- Compare catch limits, catch shares, and community rules, including their monitoring and distributional trade-offs.
- Integrate markets, institutions, time, and renewable stocks in preparation for the midterm.
Planned class sequence
- October 14: review Classwork 5: Allocating Gravel Across Two Generations, then begin Lecture 6: Fishery Dynamics and Management with fish-stock growth and harvest graphs. Fisheries dynamics and management continue after the midterm in Week 9.
- October 16: quiz and midterm review.
There is no class on October 12 during Fall Break.
Lecture slides
Click inside a slide preview, then use:
- ←/→ or ↑/↓ to move through the slides;
- M to open the menu;
- F to enter fullscreen;
- E to enter or exit PDF export mode;
- Ctrl + Shift + F to search the slides;
- T to switch between light and dark mode; and
- Esc to exit the menu or fullscreen.
This week’s materials
TL refers to Tietenberg and Lewis, Natural Resource Economics: The Essentials, 2nd edition. Chapter numbers on this page follow that edition, not the larger Environmental and Natural Resource Economics textbook.
Reading: TL Chapter 8 — Common-Pool Resources: Commercially Valuable Fisheries. For the Classwork 5 review, revisit TL Chapters 6–7 as needed.
Coming next
Week 9 begins with the midterm exam on October 19, then continues fishery dynamics, policy, and institutions. Valuing Nature I begins in Week 10, followed by Valuing Nature II in Week 11.