791-232 Resource Economics

Credit Points

HECS Band

Coordinator

Semester

Contact

Subject Description

To introduce students to:

• basic microeconomics and provide a framework for assessing implications of change in the economic environment;

• basic macroeconomics and provide an understanding of fiscal and monetary policies available to Government;

• public policy and efficiency issues which arise in the development of exhaustible, renewable and environmental resources;

• economic and policy issues which arise in relation to Australian production, consumption and trade in mineral and energy resources; and

• economic issues with respect to environmental degradation, and the policy tools available to government.

The content includes the economic problem and the concept of scarcity and marginal analysis; an analysis of the determinants of supply and demand; government economic objectives, and policies related to inflation and unemployment; the theory of international trade with reference to trade in natural resources; supply-demand analysis of environmental problems; policy issues relating to environmental protection; resource prices and the pricing of renewable and exhaustible re sources; and policy tools for control of environmental degradation.

Assessment

Two 1.5-hour examinations (80%); assignment of 2000 words (20%).