This unit presents the fundamental building blocks of marine resource economics and the key objectives and components of major economic theories of marine resource management. Students will gain knowledge in basic resource economic theory as well knowledge of the economic dimensions of issues and debates confronting marine resource management. Students will gain skills in applying key economic principles and analytical concepts to major policy and management problems concerned with the marine environment and its exploitation. Students will learn practical analytical skills through applying bio-economic modelling of fisheries to marine resource management. Topics students will explore include multiple use and scarcity of marine resources, privatisation of access rights, consumer and producer surplus, environmental valuation, resource allocation. On completing this unit students will be able to identify and appraise economic dimensions of and solutions to complex problems in fisheries, aquaculture, other marine resource-based sector management.