This unit builds on the concepts in microeconomics to provide insights into efficient and sustainable resource management. The primary focus of this unit is analytical. Emphasis is placed on the importance of property rights structures, cost-effective regulations and dynamic considerations in managing natural resource stocks and environmental assets. Some introductory material on economic valuation of environmental assets and benefit cost analysis is included.
1x2hr lecture/week, 1x1hr tutorial/week
1x50min Mid-semster test (20%), 2x1000wd Assignments (30%), 1x2hr Final Exam (50%)
ECON1001 or ECON1040 or AGEC1006 or AGEC1102