SOK-3002 Advanced Natural Resource Economics - 10 stp

The course gives an in depth study of the theory of optimal exploitation of renewable and non-renewable resources. The course starts with an introduction to the mathematical tools of dynamic optimisation. This is followed by the analysis of static and dynamic optimisation of natural resource use, based on a natural resource economic theory foundation. Applied examples and managements methods are discussed.

The aim of the course:

• give the student an in depth understanding of the dynamic mechanisms in optimal resource utilization
• enable the student to analyse relevant natural resource use based on natural resource economic theory
• obtain a good understanding of dynamic optimization

The course consists of lectures; first the mathematics of dynamic optimization, followed by a graded 4 hour exam. Then follows the natural resource economics lectures. Seminars and datalabs are given throughout the course. The students write a term paper in resource economics.

Both the term paper in resource economics and the mathematics examination must receive a pass grade for final grade to be allocated, where the maths exam counts 40% and the term paper 60%. In the case of failed mathematics exam and passed paper, continuation exam in mathematics can be taken in the beginning of the following semester.

The date for the exam can be changed. The final date will be announced at your faculty early in May and early in November.