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Unit of study_

AREC2005: Concepts in Enviro and Agricultural Economics

Semester 2, 2021 [Normal day] - Camperdown/Darlington, Sydney

This unit builds on fundamental economics knowledge to develop concepts that are key to the fields of agricultural economics, environmental economics and natural resource economics. Some globally significant themes, such as food security; sustainable agricultural production; climate change; resource/environmental limits and scarcity; biotechnology and innovation; air and water pollution; environment/agriculture interactions; and sustainable development will be used to illustrate the studied concepts.

Unit details and rules

Unit code AREC2005
Academic unit Economics
Credit points 6
Prohibitions
? 
AREC2003 or RSEC2031
Prerequisites
? 
(ECON1001 or BUSS1040 or ECON1040 or AGEC1006) and (ECON1002 or ECON1003 or ECON1005 or ECON1006 or ECMT1010 or BUSS1020 or GEOS1001 or AGEN1001 or ENVX1002)
Corequisites
? 
None
Assumed knowledge
? 

None

Available to study abroad and exchange students

No

Teaching staff

Coordinator Shyamal Chowdhury, shyamal.chowdhury@sydney.edu.au
Tutor(s) Sinan Deng, sinan.deng@sydney.edu.au
Type Description Weight Due Length
Final exam (Record+) Type B final exam Final exam
Final Exam
50% Formal exam period 2 hours
Outcomes assessed: LO1 LO2 LO4 LO5
Participation Participation
Participation in lectures & tutorials, and online discussions
10% Ongoing On-going
Outcomes assessed: LO1 LO2 LO4 LO5
In-semester test (Record+) Type B in-semester exam Mid-semester test
MCQ and short answer
30% Week 08
Due date: 07 Oct 2021 at 10:00
50 minutes
Outcomes assessed: LO1 LO2 LO4
Small continuous assessment Tutorial questions
10% Weekly Ongoing
Outcomes assessed: LO1 LO2 LO3 LO4
Type B final exam = Type B final exam ?
Type B in-semester exam = Type B in-semester exam ?

Assessment summary

Detailed information for each assessment can be found on Canvas.

Assessment criteria

The University awards common result grades, set out in the Coursework Policy 2014 (Schedule 1).

As a general guide, a high distinction indicates work of an exceptional standard, a distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

Result name

Mark range

Description

High distinction

85 - 100

 

Distinction

75 - 84

 

Credit

65 - 74

 

Pass

50 - 64

 

Fail

0 - 49

When you don’t meet the learning outcomes of the unit to a satisfactory standard.

For more information see sydney.edu.au/students/guide-to-grades.

For more information see guide to grades.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

  • Deduction of 5% of the maximum mark for each calendar day after the due date.
  • After ten calendar days late, a mark of zero will be awarded.

Academic integrity

The Current Student website  provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.  

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

You may only use artificial intelligence and writing assistance tools in assessment tasks if you are permitted to by your unit coordinator, and if you do use them, you must also acknowledge this in your work, either in a footnote or an acknowledgement section.

Studiosity is permitted for postgraduate units unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission.

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

WK Topic Learning activity Learning outcomes
Week 01 Unit outline and introduction to environmental and agricultural economics Lecture (2 hr) LO4 LO5
Week 02 Inputs, production and outputs Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5
Week 03 Production and profit maximization Lecture and tutorial (3 hr) LO1 LO2 LO4 LO5
Week 04 Land as an input, property rights, and externalities Lecture and tutorial (3 hr) LO1 LO2 LO4 LO5
Week 05 Valuation methods 1 Lecture and tutorial (3 hr) LO2 LO4 LO5
Week 06 Valuation methods 2 Lecture and tutorial (3 hr) LO2 LO4 LO5
Week 08 Non-renewable resources Lecture and tutorial (3 hr) LO1 LO2 LO4 LO5
Week 09 Renewable resources Lecture and tutorial (3 hr) LO1 LO2 LO4 LO5
Week 10 Pollution and policies for management Lecture and tutorial (3 hr) LO1 LO2 LO4 LO5
Week 11 Climate change Lecture and tutorial (3 hr) LO1 LO2 LO4 LO5
Week 12 Sustainable development Lecture and tutorial (3 hr) LO1 LO2 LO4 LO5
Week 13 Review of the unit contents Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5

Attendance and class requirements

  • Attendance: According to Faculty Board Resolutions, students in the Faculty of Arts and Social Sciences are expected to attend 90% of their classes. If you attend less than 50% of classes, regardless of the reasons, you may be referred to the Examiner’s Board. The Examiner’s Board will decide whether you should pass or fail the unit of study if your attendance falls below this threshold.
  • Lecture recording: Most lectures (in recording-equipped venues) will be recorded and may be made available to students on the LMS. However, you should not rely on lecture recording to substitute your classroom learning experience.
  • Preparation: Students should commit to spend approximately three hours’ preparation time (reading, studying, homework, essays, etc.) for every hour of scheduled instruction.

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

All readings for this unit can be accessed through the Library eReserve, available on Canvas.

  • Debertin, David (DD). 2012. "Agricultural Production Economics, Second Edition," Monographs: Applied Economics, AgEcon Search, number 158319, May.

  • Tietenberg, Thomas, and Lewis, Lynne (T&L). 2018. Environmental and Natural Resource Economics. 11th Edition. Routledge. 

As the course progresses, additional reading materials will be suggested.

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

At the completion of this unit, you should be able to:

  • LO1. Demonstrate an understanding of the major economic concepts and principles of resource allocation for agricultural production and natural resource management.
  • LO2. Demonstrate an understanding of the economics insights provided by environmental and agricultural economics for the behaviour of households, firms, industries and markets.
  • LO3. Access data and use empirical methods relevant to agricultural production and natural resource management.
  • LO4. Frame problems in terms of core economic concepts and principles, and apply economic reasoning and analytical skills, in order to make informed judgements and decisions about agricultural and environmental resources.
  • LO5. Demonstrate an understanding of policy implications provided by environmental and agricultural economics.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1 Depth of disciplinary expertise

Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.

GQ2 Critical thinking and problem solving

Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.

GQ3 Oral and written communication

Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.

GQ4 Information and digital literacy

Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.

GQ5 Inventiveness

Generating novel ideas and solutions.

GQ6 Cultural competence

Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.

GQ7 Interdisciplinary effectiveness

Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.

GQ8 Integrated professional, ethical, and personal identity

An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.

GQ9 Influence

Engaging others in a process, idea or vision.

Outcome map

Learning outcomes Graduate qualities
GQ1 GQ2 GQ3 GQ4 GQ5 GQ6 GQ7 GQ8 GQ9

This section outlines changes made to this unit following staff and student reviews.

Some changes in assessments have been made since this unit was last offered.

Please note, assessments differ slightly from the handbook due.

Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.