SAM20 Energy, Environment and Sustainability

• Topics

  Extraction of natural resources, such as energy resources, raw materials, and land areas, has shaped some of the richest and some of the poorest economies in the world. How do resource extraction and the use of resource revenues vary across countries? Why are so many resource-rich countries run by authoritarian regimes? Can the preservation of nature, reversal of climate change, and economic development be achieved simultaneously? How do resource markets function? The course will study the Norwegian economy in some detail, along with other economies. SAM20 will address the following:

  • Climate risks: consequences of climate change and associated policies, including for firms and countries involved in the production of hydrocarbons.
  • Policies against climate change: design of climate policies.
  • Sustainable Energy: challenges facing renewable energy and clean energy transition.
  • The resource curse: associated macroeconomic policy challenges, including saving versus spending of resource revenues, the phasing-in of resource revenues, and the so-called Dutch disease.
  • Firms and resources: behavior of firms in resource industries, such as producers of minerals, precious metals, oil, electricity, or fish.
  • Investments in resources across countries: the roles of institutions and taxation for exploration and production.
  • Global markets: oil, gas, and minerals.
  • Sustainable management of renewable resources: the tragedy of commons and approaches to better resource use.
  • Aquaculture: renewable resource harvest with property rights, and overview of the industry.
  • Norwegian approach to resource management: history and current challenges.

• Learning outcome

  Upon completion of the course, the student can:

  Knowledge

  • describe energy sectors and energy markets, which will be crucial in achieving UN sustainability goals
  • explain environmental aspects of renewable energy and challenges related to clean energy transition
  • discuss sustainability, conceptually as well as specifically for resource rich economies and for some specific natural resources
  • debate the central academic literature on the course topics
  • discuss analytical approaches typically applied to answer questions within these areas, including both theory and empirics
  • discuss popular policies within these areas

  Skills

  • explain the relationships between energy, natural resources, economic development and the environment in a stringent and academic manner
  • assess firm behaviour in resource industries, macroeconomic aspects of natural resource extraction, environmental aspects of the use of natural resources and how to prepare for various types of climate-related risks
  • extract relevant information from different sources, including data sources and international organizations
  • critically analyse academic literature
  • write and present an academic analysis as part of a team

  General competence

  • discuss and participate actively in an international environment
  • apply insights from economics on real-world challenges
  • identify different interests and trade-offs across groups, sectors, and countries.

• Teaching

  Physical lectures, short papers, and physical student presentations. Students are expected to attend the presentations of other groups as well as the lectures.

• Recommended prerequisites

  Basic courses in microeconomics, such as SAM1 and SAM2 at NHH.

• Credit reduction due to overlap

  Overlap with VOA051.

• Compulsory Activity

  Three short papers: During the semester, students will in groups of 3 or 4 hand in three short papers (2 pages). The three submitted short papers fulfill compulsory activities (work requirements) and it is only valid in the semester it is submitted.

  The short papers must be written in English.

• Assessment

  The course assessment has two elements:

  1) Oral group presentation of one of the three submitted short papers (30%).

  • Group size: 3-4.
  • ​Duration: 10 minutes presentation and 5 minutes for questions.

  2) Three hours individual written school exam (70%).

  The presentation and exam answer must be in English.

  An assessment will not be organised in the the non-teaching semester (spring).

• Grading Scale

  Grading scale: A - F.

• Literature

  Literature will be added during the course.

• Permitted Support Material

  One bilingual dictionary (Category I)

  All in accordance with Supplementary provisions to the Regulations for Full-time Study Programmes at the Norwegian School of Economics Ch.4 Permitted support material https://www.nhh.no/en/for-students/regulations/https://www.nhh.no/en/for-students/regulations/and https://www.nhh.no/en/for-students/examinations/examination-support-materials/https://www.nhh.no/en/for-students/examinations/examination-support-materials/