BØK1002 Environmental and resource economics
- Number of credits7,5
- Teaching semester2024 Autumn
- Language of instructionEnglish
- CampusKongsvinger
- Required prerequisite knowledge
Recommended prerequisite knowledge: KMET120 Mathematics for Economists, KSAM120 Microeconomics and GRESAF1000 Ethics, Social Responsibility and Sustainable Business Models or equivalent.
- Renewable resources (e.g. fishing and forestry) and non-renewable natural resources (e.g. oil and minerals)
- Different perspectives on resource scarcity, environmental impact and sustainability
- Microeconomic models
- Externalities
- Common problems
- Internalisation of externalities
- Taxation and direct regulation
- Cost-benefit analysis
- Valuation of renewable and non-renewable resources and environmental impact in socioeconomic analyses
- Sustainability indicators, including discussion of national accounts
- Economic growth theories
- Economic growth and sustainability
Learning Outcome
Upon passing the course, students have achieved the following learning outcomes:
Students
- will have knowledge of the challenges associated with exploitation and management of renewable and non-renewable resources and will be able to consider these in the context of different sustainability perspectives
- will have knowledge of theories and models for economic analyses of the exploitation and management of natural resources, as well as environmental issues
- will have knowledge of market failures and how the public authorities can regulate and influence the use of natural resources, as well as other economic activities that lead to environmental issues, including through fees, regulations and quotas
- will have knowledge of cost-benefit analyses, including key issues linked to the valuation of natural resources and environmental impact
- will have knowledge of different types of indicators used to measure sustainability in societal development, including challenges linked to the valuation of natural resources and environmental impact in the national accounts
- will have knowledge of key theories relating to economic growth and issues linked to the balancing of economic growth and sustainability
Students
- will be able to identify relevant models to discuss a given issue within environmental and resource economics, including discussing the prerequisites and limitations of such models
- will be able to apply relevant models in theoretical analyses of relevant problems linked to the exploitation and management of natural resources and environmental impact of economic activities
- will be able to apply relevant models in theoretical analyses and discuss the socioeconomic impact of different policies with a particular focus on natural resources and the environment
Students
- will be able to formulate and structure written arguments within environmental and resource economics using a combination of relevant mathematical models, graphical models and verbal/intuitive reasoning
- will be able to follow economic reasoning within environmental and resource economics in public debate and academic reports and consider these critically
- will be able to critically reflect on the link between economic growth and sustainability challenges
Teaching will include a combination of teaching methods and online resources, in which assignments and taught sessions will complement one another through a comprehensive teaching programme. Students are expected to arrive to sessions prepared by having viewed streamed lectures, read the curriculum and completed assignments in accordance with the teaching schedule. The primary focus at sessions will be to complete assignments and how to apply theory to analyse and propose solutions to different practical and theoretical issues within the field.
Two or three written assignments, individually or in groups of up to three students.
Four-hour written, individual examination under invigilation.
Performance is assessed using a grading scale from A to F, where E is the lowest passing grade.
| Form of assessment | Grading scale | Grouping | Duration of assessment | Support materials | Proportion | Comment |
|---|---|---|---|---|---|---|
Written examination with invigilation | ECTS - A-F | Individual | 4 Hour(s) |
| 100% | Calculator in accordance with calculator use guidelines in economics/administrative programmes of study at Inland School of Business and Social Sciences – Faculty of Economics and Social Sciences. Updated guidelines will be available and communicated to students at the start of each academic year. |