Natural Resource Management: The Norwegian Model

ELE425 Natural Resource Management: The Norwegian Model

  • Topics



    In addition: excursions, social activities, discussion groups, preparing for the writing of term-papers or other student assignments, invitation of guest lecturers from energy companies etc., either at NHH or locally in connection with company visits, etc.

  • Learning outcome

    Learning outcome

    The course gives an overview of analytical, empirical and institutional issues in modern economic natural resource management and policy, and the tools, experience and insights that economists and decision-makers have gained from the management of nature, broadly defined. The terms of reference of the course will, in particular, be an economic analysis and evaluation of the resource management and policy regimes developed by a natural resource-rich country like Norway.

    Norway is abundantly endowed with natural resources and the utilization of its resource base has strongly influenced the industrial structure, foreign trade, economic development and welfare of the country. Norway is particularly rich in energy resources (oil, natural gas and water for hydro power production), fish, including fish farming, and some minerals, including thorium as a potential resource base for new technologies of nuclear power generation. The small size of the country (population 4.6 million), its geographic location on the outskirts of Europe, its political system and the generally high regard among its people for preserving the natural environment, have generated some special approaches to, and institutional arrangements for, the Norwegian natural resource and environmental management regime.

    The course will cover important aspects of the natural resource management and policy regimes through the resource value chain from exploration, production, transportation, etc. to end-use and the economic "value chain┬┐ from macroeconomic aspects, via sectors and markets, to aspects at the micro level (firms and consumers).

    Ideally, students registering for the course should have had an introductory course in natural and environmental economics. Students who do not have such background, are recommended to read the relevant chapters of the reference book for the course; Grafton et al; see below, in advance. A brief introduction to the economics of natural resource and environmental management will also be given at the beginning of the course.

  • Teaching


    Student assignments, groupprojects, cases, exams, etc. 40 lectures, each 45 minutes, an average of 4 lectures per day; relatively more frequently in the beginning.

  • Required prerequisites

    Required prerequisites

  • Requirements for course approval

    Requirements for course approval

    Course approval based on evaluation and presentation of groupprojects. Course approval a requirement for the final examination.

  • Assessment


    3 hours written exam.

  • Grading Scale

    Grading Scale

    Grading scale A - F.

  • Semester



  • Literature


    Background reading; reference book: R.Q. Grafton et al: The economics of the environmentand natural resources, Blackwell, 2004. (selected chapters).

    Required reading for each topic or sequence of lectures. (This will be given later)


ECTS Credits
Teaching language

Course responsible

Einar Hope, Department of Economics