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.
Lectures
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