Agricultural and Resource Economics (AGEC1102)


The unit applies the principles studied in introductory microeconomics to the agricultural and resource sectors. Some descriptive content regarding Australia's agricultural markets, natural resource assets and industries is included. The first part of the unit is focused on basic concepts of supply, demand, equilibrium in agricultural and resource markets, and how markets can be modeled mathematically. Subsequent parts of the unit are focused on introductory production economics and natural resource management (under conditions of market failure, and as dynamic processes). Sources of risk in agriculture and resource markets, alternative management strategies, and basic techniques of decision making in the face of risk are explored.

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Further unit of study information


3x1-hr lectures/week, 1x1-hr tutorial/week commencing week 2


1x1hr exam (25%), 1xassignment (15%) and 1x2hr exam (60%)

Faculty/department permission required?


Unit of study rules

Prerequisites and assumed knowledge

Assumed knowledge: HSC Mathematics or HSC Mathematics Extension 1



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