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AGERE-E06 Economics of Aquatic Resources: Numerical Models, 5 cr 
Code AGERE-E06  Validity 01.01.2017 -
Name Economics of Aquatic Resources: Numerical Models  Abbreviation Economics of Aq 
Scope5 cr   
TypeAdvanced studies
  GradingGeneral scale 
    Can be taken more than onceno
Unit Master's Programme in Agricultural, Environmental and Resource Economics 

Kari Hyytiäinen 
Marko Lindroos 
Erika Uusivuori 


Period IV, every year

Recommended during the first year of Master Studies


Learning outcomes 
  • Understanding the potential of modelling and numerical analysis in planning, implementation and evaluation of water protection efforts and projects
  • Learn the skills needed to formulate and solve bio-economic problem formulations including static and dynamic problems and deterministic and stochastic problems.


Completion methods 

Contact teaching in computer class. Assignments given during class and term paper using the methods to a selected problem.


Description of the courses or modules that must be completed before taking this course or what other prior learning is required


Matlab programming language is used to formulate and solve a number of case study problem formulations. The case study examples include combatting eutrophication (i.e. reduction of the nutrients loads to the inland waters and the Baltic Sea) and fisheries management. The techniques and methods studied include static optimization (both unconstrained and constrained), dynamic discrete-time optimization, cohort models, game theoretic applications, Monte Carlo simulation, data fitting, dynamic programming, cost-effectiveness analysis and cost benefit analysis.

Study materials and literature 

Conrad, J. 2010 Resource Economics. Second edition.

Activities and teaching methods in support of learning 

The course includes e.g. independent working and group working in the computer class.

Assessment practices and criteria 

Grading 1-5. Assignments 60 %, Term paper 40 %.

Relations to other study units 

Replaces the former course 863011 YLE16 Numerical models in environmental and resource economics 5 cr.

Responsible person 

Kari Hyytiäinen, Marko Lindroos


Suitable for exchange students


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No instruction in WebOodi

Future examinations
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