Natural Resource Economics

The course provides an overview of basic economic principles in the context of natural resources. The students get introduced to markets, supply and demand, problems that natural resource economics deals with and possible solutions. This includes sustainability (of renewable and non-renewable resources), globalisation, public policy, valuation of resources and property rights. This is followed by an overview of different sectors of industries related to natural resources. That includes petroleum and hydrocarbon exploration and production, the water cycle and aquifers, mineral exploration and exploitation and an overview over the industrial minerals sector.