Economic Liberalisation and Environmental Concerns: A South Asian Perspective

This Article does not have an abstract.

Causes and Implications of the Decline of the Economics Majors: A Focus on Australia

This paper analyses the causes and implications of declining economics major in Australia. Based on a brief review of the relevant literature and an analysis of the Australian time series data, it is found that economics continues to be less attractive to students in relative terms. Three major factors contribute to this phenomenon: less than appropriate product for an increasingly diverse clientele, the introduction of more attractive and business, commerce and industry-oriented programs such as finance, accounting and commerce, and business majors geared to the needs of the real world, and the use of less experienced teaching staff in lower undergraduate courses. It is argued that stemming the tide against the economics discipline would require a significant rethink of development of products more vocational and real world-oriented, market segmentation for different clientele types, and marshalling of more experienced and capable teaching staff for lower undergraduate levels.

Local Utility Functions and Local Probability Transformations

This note shows that, under appropriate conditions, preferences may be locally approximated by the linear utility or risk-neutral preference functional associated with a local probability transformation.

Economic Analysis of the Driot de Suite - The Artist's Resale Royalty

The paper reviews Droit de Suite legislation which will provide that living artists and the estates of recently dead artists will receive a percentage royalty on resales of their work.

Socioeconomic causes of loss of animal genetic diversity: analysis and assessment

The proximate causes and processes involved in loss of breeds are outlined. The path-dependent effect and Swanson's dominance-effect are discussed in relation to lock-in of breed selection. These effects help to explain genetic erosion. It is shown that the extension of markets and economic globalisation have contributed significantly to the loss of breeds. The decoupling of animal husbandry from surrounding natural environmental conditions is further eroding the stock of genetic resources. Recent trends in animal husbandry raise serious sustainability issues, apart from animal welfare concerns. The extension of markets and economic globalisation have contributed significantly to the rapid loss of domestic breeds, especially livestock. (C) 2003 Elsevier Science B.V. All rights reserved.

Managing woodlands for income maximisation in western Queensland, Australia: clearing for grazing versus timber production

Queensland, Australia, has a proud pastoral history; however, the private and social benefits of continued woodland clearing for pasture development are unlikely to be as pronounced as they had been in the past. The environmental benefits of tree retention in and regions of the State are now better appreciated and market opportunities have arisen for the unique timbers of western Queensland. A financial model is developed to facilitate a comparison of the private profitability of small-scale timber production from remnant Acacia woodlands against clearing for pasture development in the Mulga Lands and Desert Uplands bioregions of western Queensland. Four small-scale timber production scenarios, which differ in target markets and the extent of processing (value-adding), are explored within the model. Each scenario is examined for the cases where property rights to the timber are vested with the timber processor, and where royalties are payable. For both cases of resource ownership, at least one scenario generates positive returns from timber production, and exceeds the net farm income per hectare for an average grazing property in the study regions over the period 1989-1990 to 2000-2001. The net present value per hectare of selectively harvesting and processing high-value clearwood from remnant western Queensland woodlands is found to be greater than clearing for grazing. (C) 2003 Elsevier B.V. All rights reserved.