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Agriculture, Water & Forestry Economics (ECON30031)

Undergraduate level 3Points: 12.5On Campus (Parkville)

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Overview

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Semester 1 - On Campus
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Using concepts and analytical tools grounded in applied economics, this subject studies agricultural, forestry, and water systems and the implementation and impact of policies that affect them. Topics include deforestation and the expansion of the agricultural frontier, property rights, sustainable forestry management, water allocation and water markets, salinity and other aspects of water quality, biodiversity and endangered species protection, carbon offsets and ecosystem services, pesticide use and organic production, biofuels, and food safety.

Intended learning outcomes

On completion of this subject, students should be able to:

  • Explain the economic fundamentals shaping agricultural, forestry, and water systems;
  • Analyse the pricing strategies in agricultural, forestry, and water systems and their impact on consumers, businesses, and the economy;
  • Describe the role of government intervention, subsidies, and regulatory frameworks in shaping agricultural, forestry, and water systems markets;
  • Apply economic concepts to real-world issues in agricultural, forestry, and water systems.

Generic skills

On successful completion of this subject, students should have improved the following generic skills:

  • High level of development: oral communication; written communication; application of theory to practice; critical thinking; synthesis of data and other information; evaluation of data and other information.
  • Moderate level of development: collaborative learning; problem solving; team work; statistical reasoning; interpretation and analysis; accessing data and other information from a range of sources; receptiveness to alternative ideas.
  • Some level of development: use of computer software.

Last updated: 19 November 2025