Høst 2020

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

The course is administrated by

Norges fiskerihøgskole

Type of course

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

Course overlap

SOK-3552 Fisheries Economics 3 stp

Course contents

This course gives an overall introduction of resource and environmental economics and presents applied methods of project evaluation, Present value evaluation, future value evaluation, Cost-benefit analysis and internal rate of return evaluation. The course includes a historical perspective on resource use and discusses the ethical foundation of the utilisation 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..

Application deadline

Applicants from Nordic countries: 1 June for the autumn semester. Applicants from outside the Nordic countries: 15 April for the autumn semester.

Admission requirements

Application code: 9371

The course is primarily directed towards students with a basic knowledge about natural resources, especially about marine resources like fisheries, environmental and resource economics. Additionally, for students that are interested in the interplay between different disciplines and how resource users’ behaviour may be explained within the context of biological/environmental and economic dynamic processes. The course is an integrated part of the IFM programme but is also open for single course students.

Objective of the course

This course aims to provide the student with knowledge on how to use different project evaluation methods and give an overall introduction to the central concepts of resource economics.

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

Skills:

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

Competence:

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 will be main teaching approaches for this course. Learning activities include: i) students’ participation and engagement in class, ii) short presentations (each 5 minutes) related to a particular given topic or issue, also present the group project ideas and a draft of the paper before final submission; iii) final written exam.

In the semester term paper the students will apply what they have learned about theory and methods to a case of their own choice, i.e. an economic analysis of a project with resource uses or environmental impacts.

Assessment

The exam consists of two parts:

Term paper (40%)
- 2-3 can work as a group with a project of their own choices, e.g., economic analysis of a project with environmental impacts or a resource exploitation (max 15 pages).
One Written exam, 4 hours (60%).

The grading scale is A-F, where A-E is passed, and F is failed.

Coursework requirements:

Participation 80% in class
Two short presentations, approximately 5 minutes long
Four short take-home assignments before the seminars (will be given at least one week before the seminar).

A re-sit exam will be arranged for the written exam in the next semester. The student must retake the exam(s) which he/she failed.

Date for examination

Written 11.12.2020;Term paper hand out date 09.11.2020 hand in date 16.11.2020

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