Agricultural and Resource Economics

This subject is not offered in 2014.

120 hours

For the purposes of considering request for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Students Experiencing Academic Disadvantage Policy, academic requirements for this subject are articulated in the Subject Description, Subject Objectives, Generic Skills and Assessment Requirements of this entry. The University is dedicated to provide support to those with special requirements. Further details on the disability support scheme can be found at the Disability Liaison Unit website: http://www.services.unimelb.edu.au/disability/

This subject covers the marketing of agricultural and food products, benefit cost analysis of using and conserving natural resources, and the analysis of agricultural and natural resource policy decisions

On completion of this subject students will understand:

• the principles of economics applied to the marketing and trade of agricultural products
• the role of futures markets in price risk management
• the principles and practice of social benefit cost analysis
• the economic methods and thinking underlying agricultural and natural resources policies including policies on climate change
• the concepts of public goods and market failure, property rights and common property

A 2,000 word essay about a significant issue in natural resource management – 30% due week 8

3 hour final exam – 70%

N/A

This subject is not available as a breadth subject.

On completion of this subject, students should have developed their:

• Capacity to apply economic logic to real world problems about using natural resources;
• Ability to integrate knowledge from different disciplines;
• Communication skills, through written and oral presentations;
• Quantitative analysis skills; and
• Sense of intellectual curiosity