autumn 2019

SOK-3554 Resource economics and project evaluation methods - 10 ECTS

Sist endret: 26.02.2020

The course is provided by

Faculty of Biosciences, Fisheries and Economics


Tromsø |

Application deadline

Applicants from Nordic countries: 1 June for the autumn semester and 1 December for the spring semester. Applicants from outside the Nordic countries: 1 October for the spring semester and 15 April for the autumn semester.

Type of course

Type of course: This subject is obligatory in the Master's programme in International Fisheries Management. The course can also be taken as a singular course.

Admission requirements

Application code: 9371

The course is primarily directed towards students with a basic knowledge about fisheries, population dynamics and economics. Additionally, for students that are interested in the interplay between different disciplines and how fishers¿ behaviour may be explained within the context of biological and economic dynamic processes.

Course content

This course gives a first introduction to resource economics and presents applied methods of project evaluation, Present value evaluation, future value evaluation, Cost-benefit calculation and internal rate of return evaluation. The course includes a historical perspective on resource use and discusses the ethical foundation of the utilization of natural resources. Environmental economics together with the exploitation of non-renewable resource and cultivated renewable resources constitute the major part of the course. The student is introduced to the central terms as resource rent, optimal price paths, optimal resource extraction and optimal rotation.

Objectives of the course

The candidate

  • has insight in basic theories in resource economics and project evaluation methods
  • understands the ethical dilemmas related to the production and distribution of goods, as well as the environmental consequences this may involve
  • knows central terms as resource rent, optimal price path, optimal resource extraction and optimal rotation
  • is aware of the utility theory on which environmental techniques are based



The candidate

  • can perform project evaluations and analyse potential cost and benefits of private and public project, employing standard methods
  • is able to set up and analyse economic problems related to the exploitation of non-renewable stock resources and cultivated, renewable natural resources
  • knows how to use and analyse different valuation techniques used for use and non-use environmental values



The candidate

  • has a good theoretical background in resource economic principles which could be used in analysing real cases
  • has a solid understanding of basic methods used in environmental economics, their strengths and weaknesses, and when it is suitable to make use of different methods

Language of instruction

Language of instruction and examination: English.

Teaching methods

Lectures and seminars.


Written exam, 6 hours. Grade scale: A-F, F is fail.

Course work requirements:

One week home assignment. The grading scale is passed or failed.

A re-sit exam will be arranged for the written exam in the next semester

Date for examination

Written test 10.12.2019

The date for the exam can be changed. The final date will be announced in the StudentWeb early in May and early in November.


Course overlap

SOK-3552 Fisheries Economics 3 stp
SOK-2037 Intermediate Natural Resource Economics 5 stp


Liu, Yajie

Telefon: +4777646051


Hektoen, Ane-Marie

Telefon: +4777646013
Mobil: 90076101