On October 3, 2011 (Monday), a special lecture by Rodney Smith, Associate Professor at the University of Minnesota Department of Applied Economics, was held in Research Bldg. No.2. This lecture was hosted by the Graduate School of Management and co-sponsored by the Committee of Infrastructure Planning Management (JSCE), and titled as the “2011 Academic Year Committee of Infrastructure Planning Management 6^th International Seminar”.

The lecture title was, “Modeling the Macroeconomics of Ecosystem Services: Theory and Empirics”, and Professor Smith introduced economic analysis regarding the value of natural resources which are not traded on the market. Particularly, he focused on water resources in the Kanto region, presenting theoretical analysis using the dynamic general equilibrium model and quantitative analysis of data. There were many assertive questions regarding the formularization of the model presented in the first half of the lecture, and Professor Smith politely responded the questions in detail. Many discussions took place following the end of the lecture and it is hoped that further exchanges will take place in the future.

Dr. Rodney Smith	View of the Lecture