Economics of Water and Bio-resources
RSEC5434
The main objective of the economics of biological resources will be to introduce students to the bio-economic modeling of the resources that experience biological growth. The unit consists of two complementary parts: water economics and economics of biological resources (fisheries, forestry, other wildlife). The main objective of the water economic component is to investigate the economic aspects of water use and water quality. In particular approaches toward efficient use of the water resource over time, optimal allocation of water among competing uses and achievement of the socially optimal level of water quality will be discussed. The demand for water from various sectors will be analysed in both static and dynamic settings. Issues considered include the selection and construction of water storages, aquifer water extraction and alternative water sources. The issues of waste water disposal and water quality, changing water technologies, and water pollution will be also discussed. The unit will also discuss the economics of wildlife preservation and protection, as well as the economics of biodiversity. Particular attention will be devoted to the economic mechanisms for managing the water resources including property rights, water allocation and water markets. The key policy instruments (taxes, quotas, standards) in these areas are analyzed and discussed. The institutional and policy aspects will also be considered through analysis of water policy reform in Australia and elsewhere.
Unit of study details
Unit of study level: Postgraduate
Credit points: 6
Commencing semesters: 2
Further unit of study information
Unit of study handbook: RSEC5434
Costs and scholarships information: Costs and Scholarships
Final dates to withdraw from units of study: Census Dates
Available for study abroad and exchange: No