SOK-3002 Advanced Natural Resource Economics - 10 ECTS
Students who have successfully completed the course should have achieved the following learning outcomes:
Knowledge and comprehension:
The students will have knowledge of
- Dynamic optimisation
- Renewable and non-renewable natural resource economics and aspects relating to sustainability
- Methods used to assess natural resource values
The students will develop skill to:
- Use dynamic optimization in economic analysis
- formulate and analyze issues related to the economics of natural resources
- apply theoretical concepts and ideas to undertake relevant applied work
The student should be able to
- read, understand and present economic models and results from current research on natural resource economics
- apply theories and principles and develop expertise in addressing questions related to natural resource management
- discuss and analyse central questions pertaining to the present situation related to renewable and non-renewable natural resources
4 hour written exam in mathematics (counts 40%). Term paper (counts 60%). Evaluated with grades A - F, where F is failed.
- Required pass on 200 word introduction to term paper
- Required pass on presentation of term paper topic
Re-sit exam: A re-sit exam and/or term paper is offered in the beginning of the next semester.
- 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, in particular chapters. 2,4,11,12,14,15,17,18. (PMMC)
- Clark, C.W. and G.R. Munro (1975). Economies of fishing and modern capital theory: a simplified approach. Journal of Environmental Economics and Management, Vol. 2, pp. 92-106.
- Flaaten, O. (1991). Bioeconomics of sustainable harvest of competing species, Journal of Environmental Economics and Management, 18:1-18, 1991.
- Weitzman M.L. (2002). Landing Fees vs Harvest Quotas with Uncertain Fish Stocks. Journal of Environmental Economics and Management, 43 (2), 325-338.
- Additional literature of maximum 50 pages may be handed out.