The Economics of Aquaculture and Fisheries Management

ECN429 The Economics of Aquaculture and Fisheries Management

Spring 2020

  • Topics

    Topics the course addresses include:

    • Overview of world fisheries, aquaculture, and markets for fish.
    • The law of the sea and its historical development. National and international institutions dealing with fisheries management.
    • The history of fisheries and aquaculture in Norway
    • Bioeconomic analysis of fisheries:
      • How nature limits the production of fish.
      • The inefficiencies and need for management arising from fish stocks as common property. How to resolve these issues.
      • The role of property rights.
      • Age-structure modeling
      • Community-based management.
      • Spatial analysis and marine reserves.
      • Multi-species interaction, by-catches and discards
    • Non-market valuation of eco-system goods and services: Methods and applications using fiheries production
    • The value chain of salmon aquaculture
    • Aquaculture production - Theory and modeling
      • Modeling the production process for salmon
      • Salmon farming and the rotation problem
    • Aquaculture production - Practices
      • Profitability
        • Biomass utilization
        • Smolt production
        • Growth, mortality, feed efficiency
      • Fish health and welfare
      • Food safety 
      • Sustainability - Aquaculture and the Environment, Issues and Solutions
        • Energy intensity
        • Organic waste
        • Parasite treatment
        • Antibiotic use
        • Escapees
        • Sustainable aquaculture certification
    • Seafood markets and ecolabels. Ecolabels related to seafood products, such as MSC, dolphin-safe, and Ocean Wise. How do they help?

  • Learning outcome


    Upon successful completion the student

    • can demonstrate to have knowledge of the global markets for seafood, including captured and farmed fish
    • can demonstrate to have knowledge of the fundamentals of fisheries bioeconomics
    • can demonstrate to have the understanding of the main underlying economic principles of fisheries management and regulation
    • understand the production process in salmon aquaculture
    • can demonstrate to have the understanding of challenges in fisheries and aquaculture management and how the industries have developed to address these issues
    • will be familiar with the various externalities affecting both aquaculture production and capture fisheries, and know how to value them


    Upon successful completion the student can

    • formulate and analyze bioeconomic models of captured and aquaculture economics
    • be able to analyze and discuss how different types of regulations affect economic behavior
    • understand how data science is used to the development and innovation in the aquaculture industry

    General competence

    upon successful completion the student can

    • develop advanced technical skills, analytical decision making and problem solving.

  • Teaching

    Plenary lectures.

  • Required prerequisites

    The students must have a basic knowledge of economics (bachelor level), calculus, and regression analysis.

  • Requirements for course approval

    Approved homework assignments.

  • Assessment

    4-hour written school exam (100%).

    The exam must be written in English.

  • Grading Scale

    Grading scale AF

  • Literature

    Selected textbook chapters and papers from academic journals.


ECTS Credits
Teaching language

Spring. Offered spring 2020.

Course responsible

Professor II Yuanhao Li, Department of Economics.