Natural Resource Economist

The Natural Resource Economist employs their understanding of economics, the environment, and human behavior to develop policies, strategies, and solutions for the effective allocation of economically-valued natural resources such as land, forests, water, oceans, and air. This role may also be referred to as an Environmental Economist or Ecological Economist.

Roles and Responsibilities

The day-to-day of the Natural Resource Economist varies depending on the area of specialty, but career responsibilities generally include:

• Analysis and interpretation of economic data and models to determine the optimal use of natural resources
• Providing expert guidance to policymakers, businesses, and organizations on environmental regulations and policies
• Conducting research and developing new models for the sustainable management of natural resources
• Working with stakeholders to develop consensus and resolve conflicts related to natural resource use
• Educating the public about the economic value of natural resources

Challenges

Some of the unique challenges faced by Natural Resource Economists include:

• The complexity of environmental systems and the difficulty of predicting their response to economic policies
• The competing interests of different stakeholders, such as businesses, environmentalists, and local communities
• The need to balance economic development with environmental protection

Career Growth

With experience, Natural Resource Economists can advance to senior-level positions, such as Director of Natural Resource Economics, Chief Economist, or Vice President of Sustainability. They may also move into management roles, such as Program Manager or Project Manager.

Transferable Skills

The skills developed in Natural Resource Economics are readily transferable to other careers in the environmental field, such as environmental consulting, environmental policy, or natural resource management. They may also find work as researchers, educators, or policy analysts for government agencies or non-profit organizations.

Personal Qualities

Successful Natural Resource Economists typically have the following personal qualities and interests:

• A strong interest in economics, the environment, and sustainability
• Excellent analytical and problem-solving skills
• Strong communication and interpersonal skills
• The ability to work independently and as part of a team

Projects

Typical projects undertaken by a Natural Resource Economist:

• Evaluate the economic impacts of various land-use policies
• Conduct cost-benefit analyses to determine the optimal level of environmental regulation
• Develop economic incentive programs to encourage the adoption of sustainable agricultural practices
• Quantify the economic benefits of natural resources, such as clean water or biodiversity

Self-Guided Projects

Students interested in this career are strongly encouraged to complete self-guided projects that provide hands-on experience in research, data analysis, and problem-solving. These can include:

• Conducting a research project on a natural resource issue in your community
• Developing a sustainable resource management plan for a local park or nature preserve
• Analyzing the economic impacts of a proposed environmental regulation
• Participating in a student organization related to natural resources or environmental economics

Online Courses

Online courses can be a valuable addition for learners seeking to gain knowledge and skills in this field. Through lecture videos, projects, assignments, quizzes, discussions, and interactive labs, learners have the ability to participate from anywhere at any time.    

These courses can help learners to understand the fundamentals of natural resource economics, including the role of economics in environmental decision-making, methods for conducting economic analysis, and policy tools for managing natural resources. 

While online courses alone are typically not sufficient for entry-level work, they can certainly supplement your education, and boost your résumé by providing you with relevant knowledge and skills that will make you a more competitive candidate in the Natural Resource Economics job market.