The Norwegian economy depends heavily on natural resource industries, like petroleum, hydropower, fisheries, and aquaculture. These industries are primarily producing commodities that is traded in international markets. Located along the Norwegian coastline, resource industries contribute substantially to regional activity and development, and have also proved the foundation for globally leading supplier industries including future markets and other financial services. The region around Bergen is especially important for oil and gas from the North Sea, aquaculture, and traditional fisheries, and are housing the firms behind future markets for electricity and salmon as well as a number of other services. Large companies within these industries are located in the region, where several have global reach or are subsidiaries of large multinational firms.

This course addresses important topics related to such firms and industries, both from a public policy and private business perspective. For example, how can natural resources be managed in a sustainable way? What characterize firms, markets, and trade in main resource industries? In what way will different regulations affect firm incentives and industry efficiency?             

Relevant theory and methods for economic analysis of natural resource industries will be introduced, including: (i) Sustainable management of renewable and non-renewable resources; (ii) Market places and trade instruments for commodities; and (iii) Environmental issues and related public policy. An important part of the course will be to acquire industry specific knowledge about the different resource industries and relate this to the introduced theories and to the prevailing public policy.