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Of Environmental and Natural Resource Economics


Submitted By Retford
Words 3864
Pages 16
The purpose of this paper is to gain an understanding of marine protection areas within Australian waters and to analyse its policy from an environmental and economic viewpoint, in order to forward policy recommendations for future consideration.

A Background to Environmental Policy
The underlying assumption behind environmental policy is that by designing social intervention we can bring about environmental improvement. However, designing a policy that actually produces the changes you seek is extremely difficult. Chiefly, planning and policy attempt to exercise control, to develop a desired future (Thomas 2007, p.7). But control is difficult enough to achieve over people, let alone trying to control the physical environment (Thomas 2007, p.7). Another fundamental issue for policy-makers is the direction of the policy. In particular they have to consider whether they are attempting to prevent environmental impacts that result from human action, or whether they are attempting to adapt to such changes, consciously or unconsciously (Thomas 2007, p.8).

Natural Resources
Natural resources have been critical for human welfare since people first started to walk the earth several million years ago (Field 2005 p.27). Natural resource economics is the study of how the flow of goods and services derived from natural resources is, and should be, managed in today’s world (Field 2005 p.37). Field continues to state that resource management problems derive from the underlying technological, institutional and cultural factors that characterise the economy (2005, p.37).

Given the information concerning environmental policy and the importance of natural resources to human welfare and, the fact that our natural resources are under threat not just for today’s generation but for future generations. This paper will now discuss one of the essential elements of life

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