ECN 275 / ECN 375 - syllabus.html 2025

ecn275/375 - Natural resource and environmental economics

Schedule

Syllabus

Exercises

Exams

Notes

Links

Syllabus (2025)

Course hours and important dates
Course objectives, prerequisites and other matters
Course credits (points) and grading
Course literature
Course responsible

Course Home page

Course hours and important dates

Course Hours: Tuesdays (12:15-14:00, room T 434), Wednesdays (08:15-10:00, room T434), and Fridays (12:15-14:00, room T 330). Confirmed for spring 2024.

First lecture: Wednesday January 29 at 08:15-10:00.

Last lecture: Wednesday April 2.

Two 3 hrs mandatory individual take-home tests (no cooperation with others or outside assistance allowed):
- Test 1: Friday March 7 at 12:15-15:15 - written, covering environmental economics
- Test 2: Wednesday April 9 at 12:15-15.15 - written, covering natural resource economics.
Further information on exams.

For students taking the ECN 375 edition of the course: (i) Info. on group project Wednesday Feb. 19 at 09:45, (ii) Form groups and have a selected topic ready for Wednesday April 2.

Course objectives, prerequisites, and other matters

NMBU course description with learning objectives:ECN 275 - NMBU course catalogue" Course description (new window)

Note that students who have taken ECN 275 (this course, 10 ECTS), cannot take ECN 375 (theory and applications, 10 ECTS). Students who previously have taken ECN 275 and want the applications part in addition, need to take ECN 376 (applications, 5 ECTS) instead of ECN 375. ECN 376 is also open for students with similar background as ECN 275.

Students who want to take this course without formal economics training at the MSc level are adviced to read up on microeconomics, and possess strong quantitative and analytical skills. Recommended background/previous exposure to natural resource and environmental economics: ECN 372 - Climate economics (usually taken first term of an NMBU MSc in economics), ECN 170 - Environmental and Resource Economics (NMBU School of economics and Business' introductory course in these topics), ECN 180 - Global Challenges I. Economics and Sustainability, or equivalent.

Somewhat related courses outside the NMBU School of Economics and Business:

EDS 306 - Sustainability Science: Ecological, Social, and Economic Dimension (10 credits - opens in new window).
EDS 348 - The Politics and Governance of the Environment (10 credits - opens in new window). Remark: EDS 306 or equivalent (ECN 180 may suffice) required prerequisite.

Student points, grading and exam format

Course credits: 10 points

The grade is decided upon 2 take home tests, each of 3 hrs, written (each test counts 50 % of the course grade in ECN 275, 25% of the course grade in ECN 375). Grading A-F.

Make-up tests are offered just after the ordinary spring exam period for students who are sick on any of the test dates (doctor's statement needed). If a make-up tests are offered, other students who want to improve their grade may also attend. Make-up test scores then replace initial test score.

Course literature

Textbook:
Perman, R., Y. Ma, M. Common, J. McGilvray & D. Maddison (2014): Natural resource and environmental economics, (4th. edition) Addison Wesley, Harlow, UK.
Remarks: (i) Earlier editions may be OK, men chapter numbers and topics may differ somewhat.
(ii) Available the the university bookstore (Boksmia or Amazon).
(iii) The textbook is not very reader friendly, but is an excellent reference book as it contains muchh of the info. you need for later work in this area.

Additional readings will be added at the Notes page on these pages.

Course responsible and main lecturers

Eirik Romstad got his PhD from Oregon State University (1990). His PhD thesis was on tradable emission permits. Recent work includes follow ups on the economics of biological diversity and auctions, dynamic optimality when statics matters, agricultural policy and distributional issues. Additional work with current or former PhD students.

More information can be found on my home page (opens in a new window).

Course Home page