Economics and Sustainable Resource Management

EC5218 - Economics and Sustainable Resource Management

Recognising that resources are of value for a wide variety of reasons (far beyond values expressed in the market place), this subject uses insights from the fields of ecological economics and natural resource economics to consider some of the problems associated with the management of a variety of different natural resources (including entire ecosystems and biodiversity, water, minerals, fisheries, forests and agriculture). The subject presents and discusses some common economic theories and analytical tools, but its focus is primarily on understanding the real world complications that arise when attempting to manage these resources in a complex socio-ecological system. As such, the subject is relevant to both students in economics and in environmental science, who wish to understand the economist&#39;s perspective on managing the environment.

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[Pre-requisite] (BU1003 OR BU1903 OR EV2003 OR EG4000 OR EC1010 AND EC1020) AND ALLOW CONCURRENT FOR BU1003 AND EV2003

[Pre-requisite] (BU1003 OR BU1903 OR EV2003 OR EG4000 OR EC1010 AND EC1020) AND ALLOW CONCURRENT FOR BU1003 AND EV2003 Offerings: All

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BX2123 - Economics and Sustainable Resource Management

Design a policy response to manage a selected environmental concern and justify, using the economic models discussed in this subject, the effectiveness of the policy response

Explain the key characteristics of a variety of different natural resources and discuss how these characteristics affect their use

Analyse, using the economic models discussed in this subject, the economic mechanisms that lead or contribute to a selected environmental concern