The Economics of Aquaculture and Fisheries Management

ECN429 The Economics of Aquaculture and Fisheries Management

Autumn 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

    Due to the ongoing Corona pandemic, the assessment for the spring semester 2020 has been changed:

    Individual home exam. 4 hours.

    Exam dates have not been changed.


    Original assessment form spring 2020 – cancelled:

    4-hour written school exam (100%).

    The exam must be written in English.

  • Grading Scale

    Grading scale spring 2020:


    (Originally planned: A-F)

  • Literature

    Selected textbook chapters and papers from academic journals.


ECTS Credits
Teaching language

Spring. Offered spring 2020.

NB! The assessment form has been changed due to the ongoing corona pandemic.

See assessment section for details.

Course responsible

Professor II Yuanhao Li, Department of Economics.