Schedule, syllabus and examination date

Choose semester

Course content

This course explains the basics of renewable and non-renewable resource exploitation and management and the relation between fossil fuel extraction and climate change. It covers open access and optimally managed fisheries, forestry, oil, and coal extraction, and renewable energy production. The class focuses on dynamic analyses and introduces three fundamental methods commonly applied in dynamic economic analysis: Pontryagin’s maximum principle, phase diagrams, and dynamic programming.

Learning outcome

Knowledge
You should understand

  • intertemporal trade-offs (Euler equation)
  • implications of scarcity on extraction and price paths in different settings
  • policy problems related to exhaustion of non-renewable resources and overutilization of renewable resources
  • trade-offs in non-renewable and renewable energy use

Skills & competence
You should obtain experience in

  • thinking dynamically
  • setting up dynamic economic models
  • solving models discussed in class or closely related models
  • interpret optimality conditions and trade-offs
  • learn how to find answers to questions about resource economics
  • be able to read and understand reports and journal articles that make use of the concepts and methods that are introduced in the course

Admission

Students who are admitted to study programmes at UiO must each semester register which courses and exams they wish to sign up for in Studentweb.

If you are not already enrolled as a student at UiO, please see our information about admission requirements and procedures.

Apply for guest student status if you are admitted to another Master's programme, or have completed a master in Economics at UiO or another Norwegian University.

Prerequisites

Formal prerequisite knowledge

Recommended previous knowledge

Overlapping courses

  • 10 credits overlap with ECON500 Naturressursøkonomi
  • 10 credits overlap with SØK500 Naturressursøkonomi, 3. avd. samfunnsøkonomi
  • 10 credits overlap with SOØ500 Naturressursøkonomi, 3. avd. sosialøkonomi

Teaching

Lectures: 2 hours per week throughout the semester.

Seminar: 2 hours per week through parts of the semester.

Examination

A 3-hour written school exam.

Previous exams

Digital examination

The written examination is conducted in the digital examination system Inspera. You will need to familiarize yourself with the digital examination arrangements in Inspera.

Read more about written examinations using 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.

Grading scale

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.

Appeal

Explanation

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 an explanation about the grade in this course.

Ask for an explanation about the grade for postponed exam in this course

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.

See also our 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.

Evaluation

The course is subject to continuous evaluation. At regular intervals we also ask students to participate in a more comprehensive evaluation.

Facts about this course

Credits

10

Level

Master

Teaching

Every autumn

Examination

Every autumn

Teaching language

English