NIFB14004U Environmental and Natural Resource Economics
BSc Programme in Agricultural Economics
BSc Programme in Natural Resources
This course is an intermediate level course intended to provide
students with a comprehensive introduction to environmental and
natural resource economics. It is assumed that students
have a good grounding in basic microeconomics.
Core components of the course are:
(a) Environmental sustainability concepts and ethics.
(b) The welfare economic foundation of environmental economics.
(c) Externalities and the design of policy instruments to address environmental problems.
(d) The economic concept of value and measurement of environmental benefits using non-market valuation methods.
(e) Optimal utilisation of renewable and non-renewable natural resources.
During the course students will develop a systematic understanding of the economic rationale behind the use of environmental policy instruments, economic valuation principles, and criteria for optimal use of natural resources.
The course gives a comprehensive introduction to the principles
of environmental and natural resource economics. It will provide
the participants with the knowledge needed to understand the
economic aspects of environmental policy issues and the theoretical
basis required to take advanced courses in environmental and
natural resource economics at the graduate level.
Having completed the course it is expected that the student is able to:
- Define externalities.
- Understand the economic principles behind the design of environmental policy instruments.
- Understand the issues associated with regulation of international environmental problems.
- Understand the welfare economic principles behind social discounting.
- Understand the principles underlying non-market economic valuation methods and cost-benefit analysis.
- Understand the principles behind optimal utilization of renewable and non-renewable natural resources.
- Understand the ethical positions underlying environmental sustainability concepts and discounting.
- Identify relevant policy instruments to internalize different types of externalities.
- Evaluate the consequences of applying a policy instrument to address an environmental problem.
- Identify relevant project and policy appraisal methods.
- Evaluate alternative approaches to renewable and non-renewable natural resource utilization.
- Apply the principles of environmental and natural resource economics to understand policy issues in these fields.
Text book supplemented with relevant articles.
An example of the type of literature used could be Perman et al.: Natural Resource and Environmental Economics, Pearson Education Limited.
The final literature list will be announced on the course intranet Absalon.
- Theory exercises
The students will receive written feedback on the group project and oral or written feedback on course exercises.
- 7,5 ECTS
- Type of assessment
- Written examination, 4 hours under invigilationWritten examination in lecture hall.
- Exam registration requirements
One approved group project report during the block.
- All aids allowed
- Marking scale
- 7-point grading scale
- Censorship form
- External censorship
Same as ordinary.
If 10 or fewer register for the reexamination the examination form will be oral, lasting 20 - 30 minutes. No preparation, no aids allowed.
If the student has not passed the group project report, then the project must be carried out individually and it must be handed in two weeks prior to the deadline of registration for the re-exam. It must be approved before the exam.
Criteria for exam assesment
Fulfilment of the specified learning outcomes.