EC5218 - Economics and Sustainable Resource Management

Credit points:	03
Year:	2019
Student Contribution Band:	Band 3
Administered by:

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. The subject is tailored to students who (envision to) work at a position that requires advanced economics skills.

Learning Outcomes

• Understand some of the key characteristics of a variety of different natural resources (such as whether they are open access, common property, renewable or other), and how this is likely to affect their use;
• Develop an advanced understanding of a range of different models that explain the use of different types of natural resources and that help identify problems that are, or are not, likely to arise in their management;
• Develop a broad understanding of the use the models to make predictions about whether or not the use of different resources is likely to be sustainable, and to consider management/policy interventions that seek to ameliorate any potential problems;
• Develop skills in synthesizing and evaluating models and the likely effectiveness of different policy/management interventions in a range of different socio- political contexts.

Assumed Knowledge:	Introductory subjects in Economics and Statistics
Inadmissible Subject Combinations:	BX2123

Availabilities
Townsville, , Study Period 1
Census Date 28-Mar-2019
Contact hours:	26 hours 12 hours 3 hours
Assessment:	end of semester exam (40%); assignments (40%); quiz (20%).
, Study Period 1
Census Date 28-Mar-2019
Contact hours:	0 hours
Method of Delivery:	WWW - LearnJCU
Assessment:	end of semester exam (40%); assignments (40%); quiz (20%).

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.