Skip to main content
Unit of study_

AREC3004: Economics of Water and Bio-Resources

This unit develops knowledge and skills in natural resource economics built on previously gained economics training. The economics of dynamic natural systems is studied through application of advanced modelling approaches. Particular emphasis is given to the economic mechanisms for managing water and biological resources including property rights, water allocation, and water markets. Key policy instruments, taxes, quotas, and standards are analysed. Institutional and policy aspects will also be considered via analysis of water policy reform in Australia and elsewhere.

Code AREC3004
Academic unit Economics
Credit points 6
AREC2003 or RSEC2031 or ECOS2001 or ECOS2901

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

  • LO1. demonstrate competency in undertaking complex dynamic economic analyses that involve renewable natural resources
  • LO2. demonstrate an ability for sound economic analysis related to the water use and water quality
  • LO3. demonstrate knowledge of the most important contemporary issues related to the economics of renewable resource use and water in Australia and on the global scene
  • LO4. demonstrate ability to conceptualise the relationship between water economics and the role of water as a natural resource vital for the environment
  • LO5. produce and effectively communicate a sound policy advice to policymakers that make decisions about the use of renewable resources.

Unit outlines

Unit outlines will be available 1 week before the first day of teaching for the relevant session.