This unit develops knowledge and skills in natural resource economics built on previously gained economics training. The economics of dynamic natural systems is studied through application of advanced modelling approaches. Particular emphasis is given to the economic mechanisms for managing water and biological resources including property rights, water allocation and water markets. Key policy instruments (taxes, quotas, standards) are analysed. Institutional and policy aspects will also be considered via analysis of water policy reform in Australia and elsewhere.
1x2hr lecture/week, 1x1hr tutorial/week
1x50min Mid-semester Test (35%), 1x2hr Final Exam (50%), 3x500wd Tutorial Reports (15%)
AREC2003 or RSEC2031 or ECOS2001 or ECOS2901