This unit presents the fundamental building blocks of marine resource economics and the key objectives and components of the bio-economic theory of marine resource management. On completing this unit students will be able to: critically appraise economic aspects of marine resource management; evaluate marine resource use, suggest processes for the allocation of marine resources; and, assess the implications of management strategies. The syllabus includes an economic overview of: the principles of microeconomics, econometric analyses of selected topics in marine resource economics, effects economic activity on the marine environment, economic theory of marine resource exploitation, the use of marine resources and its regulation, economic aspects of different management approaches to marine resource management, an economic perspective on technological change and structural adjustments in marine fisheries and economic valuation and resource allocation. A quantitative focus is stressed through applying mathematical methods, and econometric analysis to the study of resource economics in general; and the modelling in marine resource economics, in particular.