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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.

Unit of study details

Unit of study level: Junior

Credit points: 6

Commencing semesters: 1, 2

Further unit of study information

Unit of study handbook: AGEC1102

Costs and scholarships information: Costs and Scholarships

Final dates to withdraw from units of study: Census Dates

Available for study abroad and exchange: Yes

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