Resource Economics Program

The Resource Economics Program was first established at the ISGS in 1930 and focused on analyzing mineral and fuel production and value statistics. Through the years the program has evolved from primarily reporting what was produced, where it was produced, and how much it was worth to providing economic analyses of the causes and effects of changes in production.

The current program encompasses all of Illinois mineral resources, including water. The program is nationally and internationally recognized for the innovative application of economic fundamentals to the study of resource economics. More specifically the economic resource program:

• Provides information about the production and value of Illinois minerals
• Assists the public and industry in estimating reserves and value
• Evaluates economic and environmental feasibility of Illinois' mineral resources
• Analyzes markets for minerals, fuels, and water to identify ways to improve marketability and assist policy formulation
• Investigates the feasibility of both underground mining and the secondary use of mined-out space
• Conducts benefit/cost studies and provides economic rationale for externally funded research projects by the ISGS
• Disseminates information through participation in professional organizations and teaching