ECON2920 – Environmental and natural resource economics
We will use economics to learn why we harm the environment and overuse natural resources, and what we can do about it. We will talk about whether and how we can put a dollar value on nature and ecosystem services. We will study cost benefit analysis, pollution in general, climate change, natural resources (like fisheries, forests, and fossil fuels), and energy. We will take an economic approach to global sustainability, and study the relationship between the environment and economic growth and trade.
Some people think economics is “all about the bottom line,” where the bottom line is necessarily about corporate profits and GDP. It’s certainly possible to use economics in that way. However, the tools of economics are also well-suited to helping solve the world’s environmental and natural resource problems. In this class, we will take a tour of the fields of environmental and natural resource economics. The objective of the course is to give you a taste of what the topics in these fields are, and how economic tools are useful in analyzing and solving problems in these fields. By the end of the semester, you will be able to approach a range of environmental and resource problems with the perspective of an economist, and I hope this will inform your engagement with the world’s important environmental policy debates.
You should know
- The concepts and frameworks that characterize an efficient allocation of resources.
- The different types of institutions that can contribute to achieving efficiency with respect to private goods, public goods, and common pool resources.
- The main types of policy tools that governments can use to correct market failures related to the environment.
You should be able to
- Propose policy instruments to correct for market failures related to the environment
- Assess the advantages and disadvantages of such policy instruments
- Use cost benefit analysis to assess a wide range of policy options or investments decisions.
- Increase your ability to comprehend environmental and natural resource problems, and critically assess environmental policy proposals.
Students at UiO must apply for courses in Studentweb.
If you are not already enrolled as a student at UiO, please see our information about admission requirements and procedures.
You can not attend this course if you have already passed specific ECON-courses at a higher level.
Recommended previous knowledge
Students are expected to have knowledge of basic microeconomics, at least at the level of ECON1210 – Mikroøkonomi 1.
Lectures and seminars.
Compulsory tuition activities:
- Group oral presentation
- Groups will choose a research topic related to the course, which has to be approved by the instructor by the fourth week of class. Groups that have not chosen a topic by then will be assigned one by the instructor.
- Groups will be randomly formed on Canvas. Please check Canvas to see your group assignment.
- During the last two weeks of class, every group will give a 15 minute presentation. Another group will be responsible for leading a 15 minute discussion.
- Guidelines for the assignment will be given in Canvas at the beginning of the semester.
Access to teaching
A student who has completed compulsory instruction and coursework and has had these approved, is not entitled to repeat that instruction and coursework. A student who has been admitted to a course, but who has not completed compulsory instruction and coursework or had these approved, is entitled to repeat that instruction and coursework, depending on available capacity.
A 3-hour written school exam.
You must have passed the mandatory activities in order to sit for the exam.
The written examination is conducted in the digital examination system Inspera. You will need to familiarize yourself with the digital examination arrangements in Inspera.
Examination support material
Students may use dictionaries at this exam. Dictionaries must be handed in before the examination. Please read regulations for dictionaries permitted at the examination.
Language of examination
The examination text is given in English.You may submit your response in Norwegian, Swedish, Danish or English.
Grades are awarded on a scale from A to F, where A is the best grade and F is a fail. Read more about the grading system.
Explanations and appeals
It is recommended to request an explanation of your grade before you decide to appeal.
The deadline to request an explanation is one week after the grade is published. For oral and practical examinations, the deadline is immediately after you have received your grade.
The explanation should normally be given within two weeks after you have asked for it. The examiner decides whether the explanation is to be given in writing or verbally.
- Ask for explanation of your grade in this course
- Ask for explanation of your grade in this course (postponed exam)
Resit an examination
If you are sick or have another valid reason for not attending the regular exam, we offer a postponed exam later in the same semester.
There are restrictions on resitting this exam. See further information about resitting an exam.
Withdrawal from an examination
It is possible to take the exam up to 3 times. If you withdraw from the exam after the deadline or during the exam, this will be counted as an examination attempt.
Special examination arrangements
Application form, deadline and requirements for special examination arrangements.
The course is subject to continuous evaluation. At regular intervals we also ask students to participate in a more comprehensive evaluation.