Экономика природных ресурсов

Бакалавриат 2021/2022

Статус: Курс по выбору (Совместная программа по экономике НИУ ВШЭ и РЭШ)

Направление: 38.03.01. Экономика

Кто читает: Отдел сопровождения учебного процесса в Совместном бакалавриате ВШЭ-РЭШ

Где читается: Факультет экономических наук

Когда читается: 4-й курс, 3, 4 модуль

Формат изучения: без онлайн-курса

Охват аудитории: для своего кампуса

Язык: английский

Кредиты: 6

Контактные часы: 64

Full Syllabus

Abstract

It is hard to imagine how the global economy would have developed if mankind would not have access to natural resources. Non-renewable resources have been used as tools, weapons, jewelry and money for thousand of years. This course is designed to familiarize students with the role of natural resources in the global economy. To do that, students will initially be exposed to a historical overview of the critical role exhaustible resources played in economic development over the last centuries and potential future consequences of a continues use of such resources. In the second part of the course students will be familiarized with the main determinants of demand and supply of exhaustible resources and, thus, commodity price fluctuations. In the third part of the course students will learn about the relationship between natural resource wealth and economic development by focusing on the main issues facing resource rich economics. This will allow students to understand why some countries succeed while other countries fail to benefit from their resource wealth. Due to Russia’s role as a key player in global commodity markets and the importance of exhaustible natural resources for Russia’s economy, Russia will be employed as a case study whenever possible. The successful completion of the course will prepare students for advising firms in the private sector, international organizations and policy makers on issues such as the local impacts of industrial and artisanal mining, the difficulties related to the creation of formal contracts between resource rich economies and multinational firms, on the macro-management of resource wealth and many others.

Learning Objectives

To provide students with an understanding of the basic principles of such issues as optimal terms of resource extraction, local consequences of industrial and artisanal mining, macro-management of resource wealth, etc.

Expected Learning Outcomes

Familiarized with the main determinants of demand and supply of exhaustible resources and, thus, commodity price fluctuations
Understand the relationship between natural resource wealth and economic development
Understand the role of a historical overview of the critical role exhaustible resources played in economic development over the last centuries and potential future consequences of a continues use of such resources

Course Contents

Historical Overview
Resource Wealth and Economic Growth
Economics of Natural Resources

Assessment Elements

Final test
40% final grade
Presentation of an academic paper in class
15% of the final grade. On a monthly basis and a 5 minute presentation of an academic paper in class.
Five data assignments
Assignments for which students will need to hand in a short code and a short description of the results (5*9%=45%)

Interim Assessment

2021/2022 3rd module
0.15 * Five data assignments + 0.4 * Final test + 0.45 * Presentation of an academic paper in class
2021/2022 4th module
0.4 * Final test + 0.15 * Presentation of an academic paper in class + 0.45 * Five data assignments

Bibliography

Recommended Core Bibliography

Booming Sector and De-Industrialisation in a Small Open Economy. (1982). Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.74422DFB
Diamond, J. M. . (DE-588)120299410, (DE-576)163925402. (2005). Collapse : how societies choose to fail or succeed / Jared Diamond. New York: Viking. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edswao&AN=edswao.11585911X
Krautkraemer, J. A. (1998). Nonrenewable resource scarcity. Journal of Economic Literature, 36(4), 2065–2107. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=bsu&AN=1408068

Recommended Additional Bibliography

Baumeister, C., & Kilian, L. (2016). Forty Years of Oil Price Fluctuations: Why the Price of Oil May Still Surprise Us. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.9CF3E05A
Kapstein, E. B. (1992). The Prize: The Epic Quest for Oil, Money, and Power. By Daniel Yergin. (New York: Simon & Schuster, 1991. 877 + xxxii pp. $24.95.). Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.BE565BB6
Michael L. Ross. (2013). The Oil Curse: How Petroleum Wealth Shapes the Development of Nations. Princeton University Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.b.pup.pbooks.9686
Rabah Arezki, Valerie A. Ramey, & Liugang Sheng. (2015). News Shocks in Open Economies: Evidence from Giant Oil Discoveries. NBER Working Papers. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.p.nbr.nberwo.20857

Course Syllabus