ECON2920 – Environmental and natural resource economics

Schedule, syllabus and examination date

Course content

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 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.

    Learning outcome

    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.

    Knowledge

    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. 

    Skills

    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.

    Competence

    You should

    • Increase your ability to comprehend environmental and natural resource problems, and critically assess environmental policy proposals.

    Admission

    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.

    Prerequisites

    Recommended previous knowledge

    • The course is based on prior knowledge in microeconomics corresponding to ECON1210 – Mikro?konomi 1. Students who do not have this prior knowledge, are advised not to take this course.
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