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Lismore Session 1 Session 1
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Unit Summary

Unit type

UG Coursework Unit

Credit points

12

AQF level

7

Level of learning

Intermediate

Anti-requisites

ECO00201 Natural Resource Economics

Unit aim

The economic features of different types of natural resources are examined in this unit. The contribution that economics can make to the consideration of environmental questions is considered, along with the use of economic instruments as a way of managing and preventing environmental degradation. The technique of benefit-cost analysis and its use in natural resource based projects and other activities is explained, as are certain other valuation methods such as contingent valuation and the travel cost method. Topical issues such as population, climate change etc are also included.

Unit content

  • How the economy works: the nature of the economic problem and importance of economics in environmental management
  • Distinguishing between environmental economics and ecological economics
  • Valuing the environment
  • Market systems, supply, demand and the environment
  • Decision making for environmental management
  • Using economic instruments in environmental management
  • Ecosystem goods and services
  • Economic growth and sustainable development
  • Natural resource-based industries: fisheries, forestry, tourism
  • The economics of water resources management

Learning outcomes

Unit Learning Outcomes express learning achievement in terms of what a student should know, understand and be able to do on completion of a unit. These outcomes are aligned with the graduate attributes. The unit learning outcomes and graduate attributes are also the basis of evaluating prior learning.

GA1: , GA2: , GA3: , GA4: , GA5: , GA6: , GA7:
On completion of this unit, students should be able to: GA1 GA2 GA3 GA4 GA5 GA6 GA7
1 Understand the nature of the economic problem of scarcity and implications this will have for resource allocation
2 Analysing the relationship between economic activity and the natural environment and implications of the use of economics on different types of natural resources
3 Critical appreciation of the difference between environmental economics and ecological economics, and the implications of this difference
4 Ability to demonstrate presentation and discussion skills as relevant to environmental consulting and research.
5 Demonstrate understanding of a range of natural resource issues of topical relevance

On completion of this unit, students should be able to:

  1. Understand the nature of the economic problem of scarcity and implications this will have for resource allocation
    • GA1:
    • GA2:
    • GA3:
    • GA4:
    • GA6:
    • GA7:
  2. Analysing the relationship between economic activity and the natural environment and implications of the use of economics on different types of natural resources
    • GA1:
    • GA2:
    • GA3:
    • GA4:
    • GA6:
    • GA7:
  3. Critical appreciation of the difference between environmental economics and ecological economics, and the implications of this difference
    • GA1:
    • GA2:
    • GA3:
    • GA4:
    • GA6:
    • GA7:
  4. Ability to demonstrate presentation and discussion skills as relevant to environmental consulting and research.
    • GA1:
    • GA2:
    • GA3:
    • GA4:
    • GA6:
    • GA7:
  5. Demonstrate understanding of a range of natural resource issues of topical relevance
    • GA1:
    • GA2:
    • GA3:
    • GA4:
    • GA6:
    • GA7:

Prescribed texts

  • No prescribed texts.
Prescribed texts may change in future teaching periods.