The Economics of Aquaculture and Fisheries Management

ECN429 The Economics of Aquaculture and Fisheries Management

Autumn 2019

Spring 2020
  • 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.


ECTS Credits
Teaching language

Spring. Not offered spring 2019.

Course responsible

Linda Nøstbakken and Jack Li, Department of Economics.