Objectives and Content
The subject will provide an introduction to central issues in natural resource and environmental economics, as well as economic theory for the extraction of natural resources.
Some central topics:
- External consequences and pollution
- Sustainable development and international CO2-treaties
- Petroleum extraction
- Growing and harvesting fish resources
Teaching Methods and Extent of Organized Teaching
Compulsory Assignments and Attendance
Passed one mandatory assignment.
Passed mandatory exercises are valid this term and the 3 following terms
Semester of Instruction
Level of Study
Having completed the course, the students should be able to:
- Explain central environmental questions nationally and internationally such as air pollution and climate changes.
- Explain the economic basis of environmental politics with emphasis on the different types of market failure such as externalities, collective goods, and natural monopolies.
- Explain different means to handle market failure such as Pigou taxes, quotas and direct regulation.
- Explain principles for optimal extraction of non-renewable (oil, coal) and renewable (wood, fish) resources.
- Understand central concepts such as resource rent, efficiency, shortage and sustanability
Required Previous Knowledge
Forms of Assessment
4 hours written exam
Examination supporting materials during the exam:
«Matematisk formelsamling» by K Sydsæter, A. Strøm og P. Berck, «formelsamling i matematikk» by Utdanningsdirektoratet and non-programmable calculators without graphical display.
The seminars and lectures will be evaluated during the semester
Department of Economics
Phone: 55 58 92 26