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71004-01 - Lecture: Resource Economics (3 CP)
| Semester | spring semester 2024 |
| Course frequency | Every spring sem. |
| Lecturers |
Raul Hochuli (raul.hochuli@unibas.ch)
Frank Christian Krysiak (frank.krysiak@unibas.ch, Assessor) |
| Content | In this course, we consider environmental problems where present actions have long-term consequences, as is the case for climate change, for the use of exhaustible resources (oil, natural gas), for the use of many renewable resources (fish, fresh water). We will discuss how to describe the planning problem and how to solve it using numerical approaches. Thereby, we will start with simple problems (exhaustible resources) and move on to more complex ones (such as the management of predator-prey systems). In most cases, we will not only discuss what would be an economically optimal use of natural resource but also how resource management, market designs and environmental policy influence resource use. The course has been redesigned to 3 ECTS (without environmental economics, which is now a separate course). It consists of lectures and exercise sessions that will mostly alternate; you will receive a schedule (which week we have lectures or exercises) at the start of the term. Please take note that there are two mandatory problem sets (assignments) that you have to pass for being allowed to take the final exam. In the exercise sessions, you will work in small groups on numerical solutions to resource economic problems. You can use either Excel of Python to program and solve these problems. We will provide a brief introduction (which is an optional meeting) for both options at the start of the term. |
| Learning objectives | After taking this course, you will be able to analyze intertemporal planning problems in the context of natural resources using both theoretical arguments and numerical planning tools. You will learn how prices of exhaustible resources develop over time, how stock pollutants and renewable resources should be managed, and how policy interventions influence resource use. At a few examples, you will see how the complexity of natural resource systems renders resource management very difficult and thus why numerical approaches can be very helpful. |
| Bibliography | R. Perman, Y. Ma, J. McGilvray, M. Common and D. Maddison (2011), "Natural Resource and Environmental Economics", 4th edition, Pearson Education. We recommend (i.e., it is optional but helpful) that you also have a look at Chapters 1,2 and 5 of the open online course "Exploring Possible Futures" (https://tales.nmc.unibas.ch/en/exploring-possible-futures-44/) of the University of Basel, where we discuss the purpose of (numerical) models, basic modeling approaches and how to calibrate numerical models. |
| Weblink | Weblink |
| Admission requirements | Students should either have passed 10130 (Grundlagen der VWL) or 48981 (Intensive Introduction to Intermediate Economics). If you have done 10130, it is recommended (but not required) to also do Intermediate Microeconomics (10134) before starting Resource Economics. Students who already have passed the lecture 10160 Environmental and Resource Economics can't take this course again. |
| Course application | Registration: Please enroll in the Online Services (services.unibas.ch); Eucor-Students and mobility students of other Swiss Universities or the FHNW first have to register at the University of Basel BEFORE the start of the course and receive their login data by post (e-mail address of the University of Basel). Processing time up to a week! Detailed information can be found here: https://www.unibas.ch/de/Studium/Mobilitaet.html After successful registration you can enroll for the course in the Online Services (services.unibas.ch). Applies to everyone: Enrolment = Registration for the course and the exam! |
| Language of instruction | English |
| Use of digital media | No specific media used |
| Interval | Weekday | Time | Room |
|---|---|---|---|
| wöchentlich | Monday | 16.15-18.00 | Wirtschaftswissenschaftliche Fakultät, Grosses PC-Labor S18 HG.37 |
Dates
| Modules |
Electives Bachelor Business and Economics: Recommendations (Bachelor's degree subject: Business and Economics (Start of studies before 01.08.2021)) Modul: Aufbau Economics (Bachelor's Studies: Business and Economics) Modul: Wahlbereich in Wirtschaftswissenschaften (Bachelor's degree subject: Business and Economics) Module: Complementary Knowledge in Economics (Master's Studies: Sustainable Development) Module: Economics II (Bachelor's Studies: Business and Economics (Start of studies before 01.08.2021)) Specialization Module Global Europe: Environment and Sustainability (Master's Studies: European Global Studies) |
| Assessment format | record of achievement |
| Assessment details | There will be a written exam at the end of the term and two 2 mandatory problem sets during the term. To be admitted to the final exam, you have to get at least 50% of the total points of the two mandatory problem sets (the enrollment of students who do not meet this criterion will be cancelled). The grading will be based solely on your performance in the final exam. written exam: 04.06.24; 16:35-18:05. DSBG Sporthalle: A-Z. For this exam, you will receive additional information and your admission times by email three to four days before the exam date. You should be on site at least 20 minutes before the start of the exam. You can find the addresses of the examination rooms here: https://wwz.unibas.ch/de/studium/pruefungen/vorlesungs-und-pruefungsraeume/ You can still withdraw from the examination by submitting a completed, signed form to our office from march 26 until april 5 / 12:00 o’clock. The deregistration form and the mail address can be found on the homepage of the Dean of Studies Office: https://wwz.unibas.ch/en/studies/examinations/de-/registration-of-examinations/ Prior to march 25, please deregister only in the Online Services. |
| Assessment registration/deregistration | Reg.: course registration, dereg: cancel course registration |
| Repeat examination | no repeat examination |
| Scale | 1-6 0,1 |
| Repeated registration | as often as necessary |
| Responsible faculty | Faculty of Business and Economics , studiendekanat-wwz@unibas.ch |
| Offered by | Faculty of Business and Economics |