Accueil > Natural resource economics : advanced (lecture)

KINT 4705 - Natural Resource Economics : Advanced (Lecture)

Type d'enseignement : Lecture alone

Semester : Autumn 2018-2019

Number of hours : 24

Language of tuition : English

Pre-requisite

The course assumes no previous prerequisites in economics. It will aim to be as non-technical as possible, but there will be extensive use of graphical arguments and some simple algebra and calculus.

Course Description

The course provides an introduction to the economic analysis of natural resource extraction. Students will become familiar with economic definitions of resources and reserves and measures of resource scarcity. The course will introduce the main economic principles for analyzing non-renewable and renewable resources, with examples from the mining sector, fisheries and forestry. We will discuss the role of natural resources for economic growth and the evidence of a “natural resource curse”. The course will also cover the political economy of resources and the link between natural resources and conflicts, in particular. We will discuss some economic principles for sustainable resource management and compare the impacts of different policy instruments to regulate the extraction of non-renewable resources or common pool renewable resources. Although this is natural resource economics, the course is open to students with different backgrounds, since past experience has shown that students who are committed to studying the material do well regardless of background. To be well prepared and to better understand the economic reasoning I suggest reading one or two chapters in introductory texts on micro economics that I can recommend to you on request (such as Hal Varian, Intermediate Micro Economics).

Teachers

MILLOCK, Katrin (Chargée de recherche)

Pedagogical format

Lecture format, but active participation is expected from students. The lectures will be complemented with tutorials in which students can bring up specific questions related to the material, in particular for those who have not studied economics before.

Course validation

The course grade is based on a written midterm exam (30%) in class before the October break, a take-home assignment with a practical calculation exercise (20%) to be handed in in November, and a final written exam (50%) scheduled during the exam week in December.

Required reading

  • Readings will be selected from the following textbooks
  • John Hartwick and Nancy Olewiler, The Economics of Natural Resource Use, 2nd ed
  • Roger Perman, Yue Ma, Michael Common, David Maddison and James McGilvray, Natural Resource and Environmental Economics, 4th ed

Additional required reading

  • A complete reading list will be posted on the website