The Economics of Aquaculture and Fisheries Management

ECN429 The Economics of Aquaculture and Fisheries Management

Autumn 2018

Spring 2019
  • Topics

    Topics the course addresses includes:

    • 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.
      • Community-based management.
      • Spatial analysis and marine reserves.
      • Multi-species interaction, by-catches and discards.
    • Modeling aquaculture production:
      • Modeling the production process for salmon
      • Salmon farming and the rotation problem.
    • Fisheries and aquaculture in developing countries:
      • Current situation and challenges.
      • Extensive aquaculture production.
      • Resource shocks and the general economy.
    • Non-market valuation of eco-system goods and services: Methods and applications.
    • Seafood markets and ecolabels:
      • Seafood labels. Ecolabels related to seafood products, such as MSC, dolphin-safe, and Ocean Wise. How do they help?
      • Mislabeling of seafood. Do you actually get the type of fish you meant to buy?
    • Financial markets and financial products of fish:
      • Theories of financial contracts. Can financial contracts help fishing firms and fish farmers? How?
      • Financial products of fish. Fish Pool Index, forward prices, OSLO Seafood Index (OSLSFX), etc.

  • Learning outcome

    This course examines the production, management, and markets for captured and farmed fish. After completing this course, students will:

    • Know the fundamentals of fisheries bioeconomics
    • Understand why there is a need for fisheries management and regulation
    • Be able to analyze and discuss how different types of regulations affect economic behavior.
    • Understand the production process in intensive and extensive aquaculture.
    • Be familiar with the various externalities affecting both aquaculture production and capture fisheries, and know how to value them.
    • Know the relevant markets for fish and aquaculture products, how these markets work, and how they affect production.

  • 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 final exam

  • Grading Scale

    Grading scale A-F

  • Literature

    Selected textbook chapters and papers from academic journals.

Overview

ECTS Credits
7.5
Teaching language
English
Semester

Spring. Not offered spring 2019.

Course responsible

Linda Nøstbakken and Jack Li, Department of Economics.