Natural Resource Economics

Course ID: M37013CZ

Credits: 3

Objective: The objective of this course is for students understand how to incorporate economics in nature resource management.

Course Prerequisites: None

Outline:

There are four modules of this course: 

(1) Introduction of static models for environmental resource economics. 

(2) Introduction of dynamic models for environmental resource economics. In this part, we will focus on game theory and temporal economic models. 

(3) Using economics in fisheries management. 

(4) Other important topics in the natural resource economics & management.

Teaching Method:  

This course will be delivered as a combination of lectures and tutorials. The first part of this course (week 1 to week 8) will provide an introduction to fisheries economics and focus on relevant case studies. In this part, I will deliver lectures for two hours each week, and the third hour will be dedicated to discussions and other learning materials (e.g. board games about fishing competition). Each week there will be a take-home assignment to help students review the economic theories taught in class. For the second part (week 9 to 16) of this course that focuses on policy and modern challenges in fisheries economics, the discussion activities will play a more crucial role in addition to the lectures. Tutorial activities will include group debates, film screening, a group project and guest lectures.

Reference: 

• Bjørndal, T., Munro, G., 2012. The Economics and Management of World Fisheries. Oxford University Press. 

• Bailey, M., Sumaila, R., and Lindroos M., 2010. Application of game theory to fisheries over three decades. Fisheries Research 102.1 (2010): 1-8. 

• Hilborn, R., 2007. Managing fisheries is managing people: what has been learned?. Fish and Fisheries 8.4: 285-296.

Evaluation:

30% Midterm 

40% Final take-home exam 

30% Assignments