ECN371 Environmental Economics
Showing course contents for the educational year 2015 - 2016 .
Course responsible: Eirik Romstad
ECTS credits: 10
Faculty: School of Economics and Business
Teaching language: EN, NO
Limits of class size:
Teaching exam periods:
This course starts in Spring parallel. This course has teaching/evaluation in Spring parallel, .
Course frequency: Annually
First time: Study year 2005-2006
The course contains three elements. A) Advanced theory concerning system analysis, resource allocation mechanisms, risk, control, information handling, behavioral assumptions, preference changes, transaction costs, rights, effects of different policy instruments with relation to various types of environmental problems and different behavioral assumptions. B) Studying concrete environmental economic problems - application of the theories. C) Case studies, where students in groups will discuss suitable policy instruments for the environmental issue in focus.
Students shall acquire an understanding of how to create more environmentally friendly behavior among individuals and firms. The main focus is on the use of various policy instruments in environmental policy formulation. The course offers knowledge about the causes behind environmental problems and the various interactions between ecological processes and economic activity. Concerning economic behavior, the students will be educated in game theory and institutional behavioral theory. Within game theory (principal-agent models) the concept of resource allocation mechanisms and uncertainty will be emphasized. In the institutional part cooperative behavior, preference changes, and the importance of transaction costs and rights are core issues. The students shall learn to evaluate under which conditions the various theories are relevant. They shall, moreover, acquire knowledge about the effect of different policy instruments - economic, legal and informational - under different conditions.
Lectures, exercises and case studies (goup projects with 2-4 students in each group).
Seminars with group guidance.
Compendium with selected articles. There is no suitable text book in this course, but new books are constantly reviewed.
Microeconomic analysis at the advanced/MSc level equivalent to ECN 311. Environmental and resource economics courses at the introductory level (ECN 170 or equivalent). For students without any previous courses in environmental and resource economics from their BSc, ECN270 is recommended.
ECN 271. This course can be taken simultaneously with ECN 371. A good understanding of natural science subjects is an advantage, but no requirement.
Work on and presentation of case studies.
Written examination, 3 hours (100%). To qualify for taking the examination, students must have participated in the case studies.
Minimum requirements for entrance to higher education in Norway (generell studiekompetanse)
Reduction of credits:
Type of course:
About 50 hours, together with considerable guidance in connection with the case studies. There will be additional seminars where student assignments will be presented.
ECN 371 is still recommended to take ECN 372. ECN 371 is recommended for any MSc level student in economics specializing in environmental and resource economics, and/or energy economics.
External examiner will control the quality of syllabus, questions for the final examination, and principles for the assessment of the examination answers.
Allowed examination aids: No calculator, no other aids
Examination details: One written exam: A - E / Ikke bestått