This unit of study is concerned with the application of microeconomic principles to management decisions in agricultural, forest, and fisheries systems. The unit builds on the theoretical knowledge acquired in previous studies and introduces the methods of applied economic analysis through a range of topics including: production functions (single and multi-output), cost and profit functions; methods for the measurement of productivity; optimisation in biological production systems; and production under risk.
1x2hr lecture/week, 1x1hr tutorial/week
2x1000wd Assignment (40%), 1x2hr Final Exam (60%)
ECON1001 or AGEC1006 or AGEC1102