Jim Roumasset dreamed that he gave a substantial gift to the UH Mānoa Department of Economics. On awakening, he realized what a good idea it was and followed through. In discussions with Department Chair Nori Tarui and UHERO environmentalist Kimberly Burnett, Roumasset decided that the contribution should be in the form of a research assistantship in ecological resource economics.
The Ecological Resource Economics Research Assistantship Fund will support graduate students at UH Mānoa who show aptitude in resource economics and a strong interest in the natural environment. Roumasset has pledged support for four years, with renewal eligibility for recipients.
Roumasset first came to UH Mānoa as a graduate student, earning an MA in economics in 1969. He was drawn by an affinity for Asia and armed with a strong letter of recommendation from the department chair. He had just completed his Peace Corps service in the Philippines, and Hawai‘i felt like a natural fit.
Roumasset spent his career at the UH System flagship campus, teaching and researching economics, and mentoring students from the Philippines and around the world. Along with former students, his work helped shape policy discussions surrounding agricultural risk, sustainable development, institutional change, competition policy and resource economics, especially concerning water and energy.
His expertise in ecological resource economics is distinct from traditional environmental economics. While the latter often centers on pollution and climate change, ecological resource economics examines how multiple natural resources interact, such as groundwater, the watershed, coastal marine resources, invasive species and protective infrastructure.
“Resource economics focuses on managing a single resource,” Roumasset explained. “Ecological resource economics allows for the interaction of these resources, and how one affects the other.” The goal, he said, is long-term human welfare. “It’s a balancing act. How you manage interacting resources and how you incentivize and invest in conservation.”
Burnett, one of Roumasset’s former graduate students, says the new assistantship will open doors for students in a rigorous, deeply relevant field.
“Every new problem that I approach, I see through an ecological resource economics lens,” said Burnett. “Ecology and the economy are part of the same system, and decisions made within either will affect both.”
See the full story on the UH Foundation website at https://shorturl.at/jfGGn
