IFM International Fisheries Management

SOK-3554 Resource economics and Project evaluation

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Aim

This course is separated into two blocks. The first block aims to provide the student with practical project evaluation methods, while the second block aims to give the student an introduction to resource economics.

Course description

This course gives a first introduction to resource economics and a presentation of applied methods of project evaluation. The two parts are rather separated from each other; the first preparing for the later course in Fisheries Economics, while the project evaluation part represents a practical user guide of different evaluation methods: Present value evaluation, future value evaluation, Cost-benefit calculation and internal rate of return evaluation. The resource economic part put resource economics in a historical perspective, describing the theory development from classical economics through modern capital theory, connecting to present value calculation in the project evaluation part. The main emphasis will be put on environmental economics, non-renewable resource economics and aquaculture. The student will be introduced to the concepts of resource rent, optimal price path, optimal resource extraction and optimal rotation.

Course topics:

  • The concept of Project evaluation
  • Present and Future value methods
  • Internal Rate of Return
  • Cost-benefit evaluation method
  • Environmental economics
  • Introduction to resource economics and the concept of resource rent
  • Non-renewable resource extraction
  • More on non-renewable resources
  • Forestry economics
  • Aquaculture economics

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Course data

Code:SOK-3554
Name:Resource economics and project evaluation
Credits:10 ECTS
Prerequisites:SOK-2500
(or equivalents)
Period:First term
Exam:Written examination
Grading:ECTS
Language:English
Lectures:28
Seminars:14
Coordinator:Arne Eide
Department:IFØ