Master`s degree programme in Economics and Resource Management

Cathrine Strømø

Master`s degree programme in Economics and Resource Management
120 credits, full time study, taught in Norwegian. Contact: Dept. of Economics and Resource Management (IØR): www.umb.no/ior

Master`s degree programme in Economics and Resource Management Foto: Håkon Sparre

The programme covers current societal questions about the environment and resource management, energy, industry development, poverty and development. It is a broad study focused on advanced economic analysis, but interdisciplinarity is also prioritised. The combination of economic analysis, insight into business, and natural science and technology is demanded in both private and public sectors.

The programme qualifies graduates for scientific positions and leadership roles in private and public arenas and to PhD education in Eonomics within the specialisation areas covered by the programmes.

Admission requirements
Bachelor's degree in Economics or equivalent 3-year education.

Internationalisation, study abroad and cooperation
The programme has a strong international profile, both through Socrates (cooperative agreements to organise student exchanges) and other forms of international contact, not least through the teacher’s own research. This impacts on the content of teaching and assignments that focus on issues of international nature. There are many international students at the department. Some courses are taught in English.
It is possible to take one semester abroad at a university. This can be done by either taking specific courses in the Master's programme or by taking electives abroad. A study abroad is best suited for students who take both the Bachelor's and Master's programmes at UMB.
The department cooperates with universities in Kiel, Aberdeen, Wageningen, Reenes and Siena. Half a year at these universities qualifies students for European Master-level certification in addition to the Master's degree from UMB. This exchange occurs within the framework of Socrates. UMB has exchange agreements with the USA, Australia and New Zealand.
The programme is developed so that students with a BSc in Economics from other institutions can be admitted. The same applies for a number of specialisations from regional college universities. IØR's Master 's programme meets the national offer of Master`s degree programmes in economics, with a clear focus on interdisciplinarity and connection to natural sciences. As such, there is an advantage to studying at UMB where a great number of study options are available, including biology, planning, engineering and agronomy.

Related studies
The Master's degree programme has many courses in common with the department's other two Master`s degree programmes: Business Administration and Development and Resource Economics. It is also possible to structure the study plan to be equivalent to a Master's degree programme in Macroeconomics.

Learning goals
Students will develop the skills to structure complicated problems and utilise theories from different fields in practical analysis. They will develop the skill to independently evaluate and think critically. The main focus is on acquiring knowledge that can be used in resource-based industries, international trade, and public management of natural resources and the environment. Students will be able to apply economic and social theories, and relevant methods. They will develop an understanding of the theories, assumptions, limitations and areas of application. They will be able to apply theories to issues encountered in business, resource-based industry, business and environmental organisations, within public management, in international organisations and in development cooperation work.

Emphasis is placed on the student’s ability to combine economic competency with knowledge of production processes and natural systems and therefore develop an understanding of the practical applications and the relevance of the field. The programme will develop both general academic skills and skills in the application of specialised knowledge. Economists from UMB will be able to use their competency in cooperation with others and address the expectations of working life. The programme encourages the development of cooperation skills and the skills needed for interdisciplinary work. The programme has a significant number of English courses, which give good opportunities to develop the student’s language skills. Information technology is utilised actively in teaching. The students practice both written and oral presentations. Working with nature and biological production systems raises a number of ethical issues. Such themes are taken up in courses where this is relevant. In addition, students are given the opportunity to work with value questions that the field of economics raises – for example the relationship between effectiveness and fairness, between the use and protection of natural resources.

Teaching and evaluation methods
The programme is built around lectures, seminars and independent work with a supervised assignment. Elements of assigned work increase over time. The proportion of large, independent assignments is significant. The thesis is an independent research work completed under supervision. Evaluation of learning occurs through a combination of assignment evaluations, oral presentations and written/oral exams. While exams are used to evaluate fundamental knowledge, assignments and presentations are used to document skills, the ability to structure complicated problems and to take a scientific approach to problem solving.

Programme contents and structure
120 credits are required to complete the degree, of which:

1. at least 45 credits at the 300 level, including at least 2 of the following courses:
- AOS330 Organisation and Leadership,
- BUS300/330 Business Economy,
- BUS370 Economic Development and Entrepreneurship II,
- ECN310 Agricultural Market Analysis,
- ECN331/ 330 International Economics,
- ECN350 Development and Environmental Economics,
- ECN360 Agricultural Policy,
- ECN370 Environmental and Resource Economics,
- ECN380 Energy Economics II

2. ECN211 Microeconomics II – Institutions, Games and Market failures (if this, or the equivalent, were not taken for the Bachelor`s degree)

3. a least two of the following Methods courses:
- AOS240 Research in Social Sciences,
- BUS230 Management Science – Principles; and
- ECN200 Econometrics
(if these, or the equivalent, were not taken for the Bachelor`s degree)

4. At least 15 credits of natural sciences or technology (students who have at least 45 credits of such courses from their Bachelor`s degree can be excused from this requirement.)

5. Thesis - 30 credits.

Specialisation requirement
The requirement for obligatory courses is met by the degree's regulations of 80 credits of specialisation in the Master's degree. Specific prerequisites must be satisfied in order to take various 300 level courses.

Study advising
The programme has its own study advisor. The course teachers give continuous oral, written or internet-based supervision. Email:
studieveileder-okonomi@umb.no

Self-evaluation and student evaluation of the study programme
All courses are evaluated using UMB’s web-based system. The Study Committee evaluates the results of these surveys each semester and completes a plan for improvement, if necessary. Meetings are organised frequently with students, teachers and representatives of the study committee to discuss the structure of individual courses and content of the programme.

Updated: 15.07.05
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