BUSN2024 Sustainable Resource Management

2016

4.5

1 x 2-hour lecture weekly
1 x 1-hour tutorial weekly

1 of BUSN1013, BUSN2054

1 of BUSN2012, ENVS8006 has been successfully completed

Bachelor of Business; Bachelor of Commerce

The objective of this topic is to introduce students to the basic concepts and techniques of sustainable resource management. These concepts and techniques are of great value to people wishing to work towards the sustainable management of environmental systems and the improved efficiency of resource use. The topic focuses on

(a) the economic reasons for environmental damage and the means by which economic instruments can be used to alleviate environmental problems and
(b) the economics of sustainable development.

The main areas covered include: market failure and the environmental problem; the economics of pollution; the concepts of discounting and present value; environmental valuation techniques; benefit-cost analysis; project evaluation; green national accounting; and sustainable development policy.

The aim of this topic is to provide students with a solid understanding of the fundamentals of sustainable resource management, in particular, the basic skills required to deal with environmental issues from an economic perspective.

Students must be able to identify environmental economic problems, the reasons for their existence, and the economic instruments applicable to their resolution. They must also demonstrate that they are adequately conversant with environmental economics data (in particular its strengths and weaknesses), national accounting statistics, and alternative economic indicators. By combining an understanding of the fundamentals of environmental economics and the knowledge of environmental indicators, students will be expected to identify appropriate policy solutions to environmental problems.