Last modified: 31 Jul 2023 11:19
Managing resource wealth can impact the economic growth and development of a country for generations. Many countries with large natural resource endowments do not have the institutional structures to exploit the potential of the vast revenues they receive and can suffer as a result, potentially leading to the so-called “resource curse”.
Learn about the economics and politics of natural resource extraction, the problems that can arise for countries with abundant natural resources, and the ways which governments can better manage this wealth.
| Study Type | Postgraduate | Level | 5 |
|---|---|---|---|
| Session | First Sub Session | Credit Points | 15 credits (7.5 ECTS credits) |
| Campus | Aberdeen | Sustained Study | No |
| Co-ordinators |
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Resource wealth is often associated with lower rates of growth, institutional weakness, economic volatility and in some cases civil war. This can be compounded by the fact that resource extraction is an enclaved process, with companies often operating in an environment far removed from the rest of the economy, and with often minimal linkages to the non-resource sector.
This course explores the economics and politics of natural resource extraction and explores the problems and how to address them which can arise for countries with abundant natural resources – focussing particularly on the experience of low and middle income countries.
| Assessment Type | Summative | Weighting | 75 | |
|---|---|---|---|---|
| Assessment Weeks | Feedback Weeks | |||
| Feedback |
One week long take home exam. Overall feedback is given via webinars. |
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| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Conceptual | Analyse | Analyse policies that multilateral institutions such as the World Bank support to strengthen resource revenue management. |
| Conceptual | Analyse | Critically analyse fiscal regimes for an extractive resource and their implications for risk and resource wealth distribution. |
| Conceptual | Evaluate | Evaluate the practical macroeconomic principles governments can use to manage their resource wealth. |
| Conceptual | Evaluate | Evaluate the success of policies that multilateral institutions such as the World Bank support to strengthen resource revenue management. |
| Factual | Understand | Describe practical macroeconomic principles governments can use to manage their resource wealth. |
| Factual | Understand | Demonstrate knowledge and understanding of the nature of the economics and political challenges of managing natural resource extraction for countries with abundant national resources. |
| Assessment Type | Summative | Weighting | 5 | |
|---|---|---|---|---|
| Assessment Weeks | Feedback Weeks | |||
| Feedback |
Feedback will be provided via webinars. |
|||
| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Conceptual | Analyse | Critically analyse fiscal regimes for an extractive resource and their implications for risk and resource wealth distribution. |
| Conceptual | Analyse | Analyse policies that multilateral institutions such as the World Bank support to strengthen resource revenue management. |
| Conceptual | Evaluate | Evaluate the success of policies that multilateral institutions such as the World Bank support to strengthen resource revenue management. |
| Conceptual | Evaluate | Evaluate the practical macroeconomic principles governments can use to manage their resource wealth. |
| Factual | Understand | Describe practical macroeconomic principles governments can use to manage their resource wealth. |
| Factual | Understand | Demonstrate knowledge and understanding of the nature of the economics and political challenges of managing natural resource extraction for countries with abundant national resources. |
| Assessment Type | Summative | Weighting | 20 | |
|---|---|---|---|---|
| Assessment Weeks | Feedback Weeks | |||
| Feedback |
Distinct from those used for formative assessment. Feedback is given with correct answers after marking. Feedback is also given in webinars. |
|||
| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Conceptual | Analyse | Analyse policies that multilateral institutions such as the World Bank support to strengthen resource revenue management. |
| Conceptual | Analyse | Critically analyse fiscal regimes for an extractive resource and their implications for risk and resource wealth distribution. |
| Conceptual | Evaluate | Evaluate the practical macroeconomic principles governments can use to manage their resource wealth. |
| Conceptual | Evaluate | Evaluate the success of policies that multilateral institutions such as the World Bank support to strengthen resource revenue management. |
| Factual | Understand | Describe practical macroeconomic principles governments can use to manage their resource wealth. |
| Factual | Understand | Demonstrate knowledge and understanding of the nature of the economics and political challenges of managing natural resource extraction for countries with abundant national resources. |
| Assessment Type | Formative | Weighting | 0 | |
|---|---|---|---|---|
| Assessment Weeks | Feedback Weeks | |||
| Feedback |
Consisting of progression tests and self-assessments. Detailed feedback is given for correct and incorrect answers. Feedback is also given in webinars. |
|||
| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Conceptual | Analyse | Analyse policies that multilateral institutions such as the World Bank support to strengthen resource revenue management. |
| Conceptual | Analyse | Critically analyse fiscal regimes for an extractive resource and their implications for risk and resource wealth distribution. |
| Conceptual | Evaluate | Evaluate the practical macroeconomic principles governments can use to manage their resource wealth. |
| Conceptual | Evaluate | Evaluate the success of policies that multilateral institutions such as the World Bank support to strengthen resource revenue management. |
| Factual | Understand | Describe practical macroeconomic principles governments can use to manage their resource wealth. |
| Factual | Understand | Demonstrate knowledge and understanding of the nature of the economics and political challenges of managing natural resource extraction for countries with abundant national resources. |
| Assessment Type | Summative | Weighting | 100 | |
|---|---|---|---|---|
| Assessment Weeks | Feedback Weeks | |||
| Feedback |
Take home exam. Overal feedback given with online webinar as required. |
|||
| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
|
|
||
| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Factual | Understand | Demonstrate knowledge and understanding of the nature of the economics and political challenges of managing natural resource extraction for countries with abundant national resources. |
| Conceptual | Analyse | Critically analyse fiscal regimes for an extractive resource and their implications for risk and resource wealth distribution. |
| Conceptual | Analyse | Analyse policies that multilateral institutions such as the World Bank support to strengthen resource revenue management. |
| Conceptual | Evaluate | Evaluate the success of policies that multilateral institutions such as the World Bank support to strengthen resource revenue management. |
| Factual | Understand | Describe practical macroeconomic principles governments can use to manage their resource wealth. |
| Conceptual | Evaluate | Evaluate the practical macroeconomic principles governments can use to manage their resource wealth. |
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