Water Economics and Governance will focus on the economics of water resources and the governance of water (urban and rural) from both an Australian and international perspective.

The course will be designed to provide students with the fundamentals of water economics and water planning. It will be structured around the themes of water scarcity, efficiency, water markets, urban water, rural water, equity, and water for the environment. Upon completion of the course students will know how to apply economic principles to understand the problems of water scarcity, and how it can be mitigated in keeping with the three pillars of integrated water resource management. 

The course has been designed for delivery in one of two modes: on-campus and off-campus.

On completion of the course students will be able to:

1. Understand and explain the causes of water scarcity on a global basis.
2. Understand and apply the basics of cost-benefits analysis in terms of water planning.
3. Understand and explain non-market valuation in terms of valuing water in the environment.
4. Understand, explain and apply the fundamentals of water supply and demand.
5. Explain the origins and key characteristics of water rights.
6. Understand and explain the benefits and costs of water markets and trading.
7. Understand, explain and apply the fundamentals of urban water structure and planning.
8. Understand, explain and analyse the fundamentals of water pricing.
9. Understand and explain the constraints and challenges of rural water supply.
10. Understand, explain and apply the three pillars of integrated water resource management and how water economics and governance can contribute to sustainable development.

• Classroom participation 10%
• Presentations 10%
• Five in-class assignments 30%
• Final examination 50%

Economics of Water Resources (Ed. R. Quentin Grafton)