BX2123 - Economics and Sustainable Resource Management

Credit points:	03
Year:	2013
Student Contribution Band:	Band 3
Administered by:	School of Business

Recognising that resources are of 'value' for a wide variety of reasons (far beyond values expressed in the market place), this subject uses insights from the fields of ecological economics and natural resource economics to consider some of the problems associated with the management of a variety of different natural resources including: entire ecosystems and biodiversity, water, minerals, fisheries, forests and agriculture. It presents and discusses some common economic theories and analytical tools, but its focus is primarily on understanding the real world complications that arise when attempting to manage these resources in a complex socio-ecological system.

Learning Outcomes

• critically evaluate the models and the likely effectiveness of different policy/management interventions in a range of different socio- political contexts;
• explain the key characteristics of a variety of different natural resources (such as whether they are open access, common property, renewable or other), and discuss how these characteristics affect their use;
• apply a range of different models to explain the use of different types of natural resources and how they help identify problems that are, or are not, likely to arise in their management;
• demonstrate an ability to use the models to make predictions about whether or not the use of different resources is likely to be sustainable, and consider management/policy interventions that seek to ameliorate any potential problems.

Graduate Qualities

• The ability to think critically, to analyse and evaluate claims, evidence and arguments, and to reason and deploy evidence clearly and logically;
• The ability to find and access information using appropriate media and technologies;
• The ability to evaluate that information;
• The ability to speak and write clearly, coherently and creatively;
• The ability to generate, calculate, interpret and communicate numerical information in ways appropriate to a given discipline or discourse.

Prerequisites:	(BU1003 OR EV2003) AND ALLOW CONCURRENT FOR BU1003
Inadmissible Subject Combinations:	EC5218

Availabilities
Townsville, Internal, Study Period 1
Census Date 28-Mar-2013
Coord/Lect:	Dr Hong-Bo Liu.
Contact hours:	39 hours lectures
Assessment:	end of semester exam (40%); quizzes or tests (20%); presentation (10%); assignments (30%).

Note: Minor variations might occur due to the continuous Subject quality improvement process, and in case of minor variation(s) in assessment details, the Subject Outline represents the latest official information.