spring 2015
SOK-3002 Advanced Natural Resource Economics - 10 ECTS

Type of course

The subject can be taken as a single subject

Course overlap

If you pass the examination in this course, you will get an reduction in credits (as stated below), if you previously have passed the following courses:

SØ-455 Graduate course in economics - special topic: Resource economics 5 stp
SØ-405 Graduate course in economics - split exam in dynamic optimization 5 stp
SOK-3556 Environment and Development Economics 2 stp

Course content

The course gives an in depth study of the theory of optimal exploitation of renewable and non-renewable resources. The course starts with an introduction to the mathematical tools of dynamic optimisation. This is followed by the analysis of static and dynamic optimisation of natural resource use, based on a natural resource economic theory foundation. Applied examples and managements methods are discussed.

Objectives of the course

The aim of the course:
  • give the student an in depth understanding of the dynamic mechanisms in optimal resource utilization
  • enable the student to analyse relevant natural resource use based on natural resource economic theory
  • obtain a good understanding of dynamic optimization

Language of instruction and examination

English.

Teaching methods

Lectures and seminars.

Assessment

The course consists of lectures; first the mathematics of dynamic optimization, followed by a graded 4 hour exam. Then follows the natural resource economics lectures. Seminars and datalabs are given throughout the course. The students write a term paper in resource economics.

Both the term paper in resource economics and the mathematics examination must receive a pass grade for final grade to be allocated, where the maths exam counts 40% and the term paper 60%. In the case of failed mathematics exam and passed paper, continuation exam in mathematics can be taken in the beginning of the following semester.


Recommended reading/syllabus

Curriculum:
  • Sydsæter, Hammond, Seierstad and  Strøm (2005). Further mathematics for economic analysis, Prentice Hall, Chapters 4.2, 5.1-5.4,  5.6, 6.1-6.9,  9.1-9.4, 9.6
  • Perman, R., Y. Ma, J. McGilvray og M. Common (2011), 3. Ed.; Natural Resource and Environmental Economics, Chapters. 2-4, 11, 12, 14-15, 17-18. (PMMC)
  • Additional literature of maximum 50 pages may be handed out.

Error rendering component

  • About the course
  • Campus: Ukjent |
  • ECTS: 10
  • Course code: SOK-3002
  • Tidligere år og semester for dette emnet