ENR-31306 Economics and Management of Natural Resources

Course

Credits 6.00

Teaching methodContact hours
Lectures24
Practical extensively supervised18
Self-study
Course coordinator(s)dr. X Zhu
Lecturer(s)dr. ir. RA Groeneveld
dr. HP Weikard
dr. X Zhu
Examiner(s)dr. ir. RA Groeneveld
dr. HP Weikard
dr. X Zhu

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 completing this course, students:
- have a firm understanding of problems of the use of natural resources over time and their sustainable management;
- have a firm understanding of the normative base of resource economics, i.e. issues of discounting and sustainability;
- can solve basic intertemporal optimisation problems, determine efficient paths of non-renewable and renewable resource use, and translate the results of these problems to the real world;
- can apply dynamic optimization techniques to management of nonrenewable and renewable resources;
- have learnt to work with economic research literature on natural resource problems.

Activities:

Lectures. Studying textbook and articles. Solving practical problems during practicals.

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.

ProgrammePhaseSpecializationPeriod
Restricted Optional for: MMEManagement, Economics and Consumer StudiesMScC: Economics, Environment and Policy4WD
MESEnvironmental SciencesMSc4WD
MCLClimate StudiesMSc4WD
MAMAquaculture and Marine Resource ManagementMScC: Marine Governance4WD