ENR-31306 Economics and Management of Natural Resources

Vak

Studiepunten 6.00

Language of instruction:

English

Assumed knowledge on:

ECH-21806 and ENR-21306 or ENR-20306

Continuation courses:

Theories and Models in Environmental Economics (ENR-30306), Advanced Environmental Economics and Policy, Thesis Environmental Economics.

Contents:

This course deals with the efficient and sustainable use of natural resources. The key question is how intensely a resource should be exploited, considering the typical properties of the resource, possible externalities, and future generations. The course deals with nonrenewable resources (e.g. minerals and fossil fuels), as well as renewable resources such as forests, fisheries, water, and ecosystems. The course also pays attention to the economic theory of different policy instruments, such as individual transferable quota, days-at-sea, and tradable water use rights.

Learning outcomes:

After successful completing this course students are expected to be able to:
- apply dynamic optimization techniques to management of non-renewable resources (such as fossil fuels and phosphate) and renewable resources (such as forestry, fisheries, and ecosystems);
- analyse economic problems of natural resource use, taking into account dynamics and sustainability;
- evaluate economic problems of natural resource use, taking into account concerns of intergenerational equity, sustainability, and discounting;

Activities:

The course consists of four lectures and two tutorials in each week. To deepen the understanding of theory and to foster the ability to solve problems there are six assignments with review questions and exercises. The assignments are group work, which means solve problems jointly - not to distribute tasks. Participants are required to read relevant textbook chapters and handouts. Class attendance is required.

Examination:

The student will be tested by way of graded exercises and a written exam.

Literature:

Perman, Common, Mc Gilvray, Ma "Natural Resource and Environmental Economics", Addison Wesley, 2003 and handouts.