The course provides training in the economics of natural resource management and agriculture. The first part introduces the key models and techniques of resource economics and applies them to non-renewable resources such as minerals and energy and renewable resources such as fisheries, forests, and water, as well as the analysis of sustainability. Managing these resources requires optimisation across time periods. Students will learn how to develop and numerically solve intertemporal resource allocation models. The second part turns to agricultural economics, with a particular focus on developing economies. Topics include technological change, food security, agricultural trade, and the role of agriculture in economic development.

Learning Outcomes

Upon successful completion, students will have the knowledge and skills to:

1. Understand and use the key models of resource economics to investigate resource management problems and issues.
2. Apply advanced mathematics and numerical methods to solve quantitative resource management problems.
3. Use microeconomic tools to analyse decision-making in agriculture.
4. Assess the role of agriculture in international trade and development.
5. Evaluate and communicate research in agricultural and resource economics.

Research-Led Teaching

This course is designed to equip postgraduate and PhD students in agricultural & resource economics and rural development with a comprehensive understanding of foundational economic theories related to agricultural production, consumption, and market structures, and their practical applications. The course is structured in two parts. The first part introduces classical theories and models in agricultural, resource, and production economics, applying them to empirical studies for public policy analysis. The second part focuses on rural transformation and sustainable development, addressing critical and emerging challenges in agricultural and rural development globally, with particular emphasis on developing countries in the Asia-Pacific region. Key topics include technological progress, public policies and agricultural productivity; climate change impacts on agricultural production and national food security; agriculture and its role in economic development; institutions, policies, and investments (IPIs) in rural transformation, and agricultural trade and value chains.

Recommended Resources

Cartwright, Edward (2024) Behavioral Economics, 4th Edition, Taylor & Francis Ltd.

Deaton, A. and J. Muellbauer (1980) Economics and Consumer Behavior, Cambridge University Press (the electronic version is available through the library: library.fa.ru/files/deaton-economics.pdf). (Chapters 1-5)

Evenson, R. and P. Pingali (2010) Handbook of Agricultural Economics: Farmers, Farm Production and Farm Market, North-Holland Press.

Robert. G. Chambers (2001) Applied Production Analysis: A Dual Approach, Cambridge University Press.

Robert. G. Chambers (2021) Competitive Agents in Certain and Uncertain Markets, Kindle Edition, Oxford University Press (ISBN-13 :  978-0190063030) (Chapter 7-10)

Supplementary readings (including both journal articles and other reading materials) for each topic will be made available on Wattle.

Staff Feedback

Students will be given feedback in the following forms in this course:

• Written comments
• Verbal comments
• Feedback to the whole class, to groups, to individuals, focus groups

Student Feedback

ANU is committed to the demonstration of educational excellence and regularly seeks feedback from students. Students are encouraged to offer feedback directly to their Course Convener or through their College and Course representatives (if applicable). The feedback given in these surveys is anonymous and provides the Colleges, University Education Committee and Academic Board with opportunities to recognise excellent teaching, and opportunities for improvement. The Surveys and Evaluation website provides more information on student surveys at ANU and reports on the feedback provided on ANU courses.

Other Information

CRAWFORD ACADEMIC SKILLS

The Crawford School of Public Policy has its own Academic Skills team dedicated to helping students to understand the academic expectations of studying at Crawford and succeed in their chosen program of study. Through individual appointments, course-embedded workshops and online resources, Crawford Academic Skills provides tailored advice to students keen to develop their academic reading, thinking, planning, writing, and presentation skills.

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Introduction: Agricultural & Resource Economics, Rural Development and Public Policy
2	Consumers’ Food Consumption and Expenditure
3	Food Demand and Household/Social Welfare
4	Information, Quality of Food Products and Consumer Choice
5	Agricultural Production Basics: Cost and Profit Functions
6	Technology Progress and Its Measure: Agricultural Total Factor Productivity
7	Mutiple-input and Multi-output Technology: Scale and Efficiency
8	Public RD&E, Technological Progress and Agricultural Development
9	Agricultural Mechanization, Biotechnology Progress, and Agricultural Production
10	Climate Change, Farmers' Adaptation and Agricultural Production
11	Agriculture, Resource and Economic Growth
12	Institution, Policy and Investments and Rural Transformation

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
Assignment 1	10 %	08/08/2025	22/08/2025	1,2,3
Assignment 2	10 %	27/08/2025	03/09/2025	1,2,4
Assignment 3	10 %	17/09/2025	24/09/2025	2,3,4
Essay	30 %	12/10/2025	27/10/2025	2,3,5
Final Exam	40 %	*	28/11/2025	1,2,3,4,5

* If the Due Date and Return of Assessment date are blank, see the Assessment Tab for specific Assessment Task details

Policies

ANU has educational policies, procedures and guidelines, which are designed to ensure that staff and students are aware of the University’s academic standards, and implement them. Students are expected to have read the Academic Misconduct Rule before the commencement of their course. Other key policies and guidelines include:

• Student Assessment (Coursework) Policy and Procedure
• Special Assessment Consideration Policy and General Information
• Student Surveys and Evaluations
• Deferred Examinations
• Student Complaint Resolution Policy and Procedure

Assessment Requirements

The ANU is using Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. For additional information regarding Turnitin please visit the ANU Online website Students may choose not to submit assessment items through Turnitin. In this instance you will be required to submit, alongside the assessment item itself, hard copies of all references included in the assessment item.

Moderation of Assessment

Marks that are allocated during Semester are to be considered provisional until formalised by the College examiners meeting at the end of each Semester. If appropriate, some moderation of marks might be applied prior to final results being released.

Participation

There is no formal grade for participation.

Examination(s)

Yes there is a final exam as in Assessment Task 5.

Assessment Task 1

Assignment 1

The first assignment builds on tutorial material to evaluate students’ proficiency in analytical and quantitative techniques related to food demand and consumer behavior. Students will analyze food demand under budget constraints; articulate caveats derived from utility optimization theory and social welfare principles and apply these models to explore economic implications and design empirical tests. The assignment focuses on food (and resource) demand and consumption theory and is limited to two pages.

Assessment Task 2

Assignment 2

The second assignment, rooted in tutorial material, assesses students’ mastery of analytical and quantitative techniques in agricultural production theory and the measurement of technological progress. Students will analyze farmers’ optimal decisions on technology adoption, operational scale, and input/output structures under climatic, natural and market risks to understand resource demand and allocation across farms in the agricultural sector. The assignment centers on agricultural production and farm behavior, utilizing both analytical and quantitative tools, and is limited to two pages.

Assessment Task 3

Assignment 3

The third assignment aims to enhance students' ability to analyze real-world cases while assessing their analytical and quantitative skills. Students are required to design and implement an economic framework (e.g., an original or existing mechanism or model) to examine the causes and consequences of an economic or policy issue related to agricultural development or rural transition. The assignment may address topics such as agricultural production, consumption, market dynamics, or rural development. Students must employ economic models, utilizing numerical techniques (e.g., Excel Solver) and analytical methods. The submission is limited to two pages.

Assessment Task 4

Essay

The fourth assignment enables students to apply course knowledge to analyze and present a real-world economic case, moving beyond the theoretical problems encountered in tutorials, prior assignments, and the final exam. This task emphasizes effective communication with public policymakers. The submission, limited to 1,800 words (excluding references), may build on or extend the topic explored in the third assignment. The ANU College of Asia & the Pacific's Word Limit and Penalty Guidelines applies to this assessment item.

Assessment Task 5

Final Exam

A 3-hour, closed book and proctored exam will be held during the ANU Semester 2 final exam period. It will combine some math problems and some short answer/analytical/essay-type questions.

Academic Integrity

Academic integrity is a core part of our culture as a community of scholars. At its heart, academic integrity is about behaving ethically. This means that all members of the community commit to honest and responsible scholarly practice and to upholding these values with respect and fairness. The Australian National University commits to embedding the values of academic integrity in our teaching and learning. We ensure that all members of our community understand how to engage in academic work in ways that are consistent with, and actively support academic integrity. The ANU expects staff and students to uphold high standards of academic integrity and act ethically and honestly, to ensure the quality and value of the qualification that you will graduate with. The University has policies and procedures in place to promote academic integrity and manage academic misconduct. Visit the following Academic honesty & plagiarism website for more information about academic integrity and what the ANU considers academic misconduct. The ANU offers a number of services to assist students with their assignments, examinations, and other learning activities. The Academic Skills and Learning Centre offers a number of workshops and seminars that you may find useful for your studies.

Online Submission

The ANU uses Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. While the use of Turnitin is not mandatory, the ANU highly recommends Turnitin is used by both teaching staff and students. For additional information regarding Turnitin please visit the ANU Online website.

Hardcopy Submission

For some forms of assessment (hand written assignments, art works, laboratory notes, etc.) hard copy submission is appropriate when approved by the Associate Dean (Education). Hard copy submissions must utilise the Assignment Cover Sheet. Please keep a copy of tasks completed for your records.

Late Submission

Late submission of assessment tasks without an extension are penalised at the rate of 5% of the possible marks available per working day or part thereof. Late submission of assessment tasks is not accepted after 10 working days after the due date, or on or after the date specified in the course outline for the return of the assessment item. Late submission is not accepted for take-home examinations.

Referencing Requirements

Accepted academic practice for referencing sources that you use in presentations can be found via the links on the Wattle site, under the file named “ANU and College Policies, Program Information, Student Support Services and Assessment”. Alternatively, you can seek help through the Students Learning Development website.

Extensions and Penalties

Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure The Course Convener may grant extensions for assessment pieces that are not examinations or take-home examinations. If you need an extension, you must request an extension in writing on or before the due date. If you have documented and appropriate medical evidence that demonstrates you were not able to request an extension on or before the due date, you may be able to request it after the due date.

Privacy Notice

The ANU has made a number of third party, online, databases available for students to use. Use of each online database is conditional on student end users first agreeing to the database licensor’s terms of service and/or privacy policy. Students should read these carefully. In some cases student end users will be required to register an account with the database licensor and submit personal information, including their: first name; last name; ANU email address; and other information. In cases where student end users are asked to submit ‘content’ to a database, such as an assignment or short answers, the database licensor may only use the student’s ‘content’ in accordance with the terms of service — including any (copyright) licence the student grants to the database licensor. Any personal information or content a student submits may be stored by the licensor, potentially offshore, and will be used to process the database service in accordance with the licensors terms of service and/or privacy policy. If any student chooses not to agree to the database licensor’s terms of service or privacy policy, the student will not be able to access and use the database. In these circumstances students should contact their lecturer to enquire about alternative arrangements that are available.

Distribution of grades policy

Academic Quality Assurance Committee monitors the performance of students, including attrition, further study and employment rates and grade distribution, and College reports on quality assurance processes for assessment activities, including alignment with national and international disciplinary and interdisciplinary standards, as well as qualification type learning outcomes. Since first semester 1994, ANU uses a grading scale for all courses. This grading scale is used by all academic areas of the University.

Support for students

The University offers students support through several different services. You may contact the services listed below directly or seek advice from your Course Convener, Student Administrators, or your College and Course representatives (if applicable).

• ANU Health, safety & wellbeing for medical services, counselling, mental health and spiritual support
• ANU Access and inclusion for students with a disability or ongoing or chronic illness
• ANU Dean of Students for confidential, impartial advice and help to resolve problems between students and the academic or administrative areas of the University
• ANU Academic Skills and Learning Centre supports you make your own decisions about how you learn and manage your workload.
• ANU Counselling Centre promotes, supports and enhances mental health and wellbeing within the University student community.
• ANUSA supports and represents all ANU students