Course overview
The course examines how society makes decisions about the allocation of scarce and uncertain resources when human desires for the use of the resources are limitless. The course first discusses resource allocation criteria that can be considered when natural resource (re)allocation policies, projects or plans are evaluated. The course then introduces some basic economic concepts and principles (eg opportunity cost, marginal analysis and property rights) that serve as a tool to analyse and evaluate resource allocation options. The primary concern of the course is over the interpersonally, intertemporally efficient allocation of non-renewable and renewable natural resources, including water resources, minerals, energy resources and forests, in an Australian context. The course also considers social justice and ecological sustainability in the exploitation of natural resources.
Course learning outcomes
- Demonstrate a sound understanding of the economically adopted paradigms about the efficient and sustainable use of natural resources.
- Identify principal criteria for designing and evaluating natural resource management schemes.
- Evaluate the competing uses of natural resources (e.g. forests, fresh water, fisheries, non-renewable resources).
- Critically analyse natural resource management policies, by way of various case studies.
- Present logical and coherent written arguments based on evidence.
- Communicate ideas through class participation.