Course and Subject Handbook

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's perspective on managing the environment.