Sustainable development and environmental accounting: the challenge to the economics and accounting profession

Purpose – The purpose of this paper is to examine the role of natural resources accounting in sustainable development. Natural resource accounting is important because the welfare of a nation measured in terms of gross domestic product (GDP) has several weaknesses. Design/methodology/approach – This paper achieves this objective by identifying the present status, the constraints and the challenges for the economics and accounting professions. Findings – The main weakness of GDP as a measure of development is that it does not take into account damages to environmental resources. However, the improvement of the concept to include environmental resource use is made difficult because of the difficulties of measuring environmental damage. The challenge to the economics and accounting profession is to ensure interdisciplinary collaboration, development of a framework to explicitly include the environment, development of credible valuation procedures for the environment, and inclusion of the various ethical positions advanced by various groups on the value of the environment. Practical implications – Some headway has been made on these issues during the last decade but a major challenge still lies ahead in further improving these approaches so that sustainable development becomes an achievable goal. Originality/value – This paper brings together diverse views and fusing them together providing a future path for research in environmental accounting to achieve sustainable development.

New institutional economics: it's nature, potential and the future

It is generally accepted that institutional problems have severely constrained development in many countries regardless of significant achievements in technology and other reforms. Both the Old and New Institutional Economics have relevance in understanding the lack of progress in many countries in Asia and Africa. Institutions generally refer to the "framework within which human interactions take place. Two major strands of NIE are the transaction costs and the collective action approach. The NIE implies that traditional rural institutions such as user groups, rotating credit and irrigation associations, interlinked credit etc. are institutions that have emerged in place of the market due to lower transactions costs. The successful management of common property resources such as water, forests, wetlands etc using local arrangements imply that institutions need to be interpreted in broader terms and the simple dichotomy of market or the government is too limited to understand the development process. New thinking is required in developing institutions that are structurally suited for management at the local level. Such an approach will have better chance to succeed compared to a process based upon the market.

Students` perceptions of workshop based introductory macro-economics tutorials: a survey

The declining popularity of Economics courses, evident in the last decade, has fuelled a debate on the nature of Economics units and the way in which they are taught in tertiary institutions. The effectiveness of traditional teaching methods has been questioned as lecturers search for alternative ways of presenting material and engaging students. In recent times, workshop-based/cooperative tutorials have become more popular in promoting deeper learning. This paper assesses the application of such an approach at a large tertiary institution. It evaluates student perceptions of this tutorial method in an Introductory Macroeconomics first-year unit. An anonymous questionnaire was used. Whilst the sample size is small (n = 56), the results are important in that this is the first such study in Macroeconomics. Students found workshop-based tutorials useful, preferred them over lecture style tutorials, and found that they fostered inclusivity. The importance of tutorials per se, is reiterated. Students state that tutorials are an important adjunct to lectures. This study also looks at students' study habits: finding that on average they spend less than one hour per week studying Economics and most prepare only occasionally for tutorials. The sample studied indicates that there are notable differences in the perceptions of tutorials and teaching methods between the genders and between local and international students. This may impact on the way in which tutorials are conducted effectively.

Tourism, dutch disease and welfare in an open dynamic economy

This paper examines the effects of an expansion in tourism on capital accumulation, sectoral output and resident welfare in an open economy with an externality in the traded good sector. An expansion of tourism increases the relative price of the nontraded good, improves the tertiary terms of trade and hence yields a gain in revenue. However, this increase in the relative price of nontraded goods results in a lowering of the demand for capital used in the traded sector. The subsequent de-industrialization in the traded good sector may lower resident welfare. This result is supported by numerical simulations.

A house in history, heritage and tourism : shifting times at Blundell's Cottage, Canberra

The history of history's institutions can offer a gritty context in which to understand historical production. A wide spectrum of influences, from the personal to the intellectual to the political, can be seen at work in shaping the history made and communicated at Blundell's Cottage over the years. Even though it has always been a humble participant in the project of history, its products probably reach some of history's larger audiences. Hence it is worthwhile to review fifty years of historio-museography.

Sports-events, tourism and destination marketing strategies: an Australian case study of Athens 2004 and its media telecast

The focus of this study was the media telecast of the Athens 2004 Summer Olympic Games. The study explored the efficacy of the Australian telecast in developing positive perceptions and attitudes of Greece as a tourist  destination and was origin-based—in that a survey was undertaken of a sample of Australian residents (n = 350). Participants were segmented based on their post-consumption perceptions of Greece. Four segments were identified and labelled—'extremely positive' (n = 75), 'highly positive' (n = 153), 'positive' (n = 83) and 'negative' (n = 29). Statistical differences were found between the segments based on whether attitudes towards Greece had improved as a result of their consumption of the media telecast of the Athens 2004 Olympic Games (Athens 2004). To gain insights into this phenomenon, open-ended responses provided by segment members were then analysed.

Across the sample, 38.7% of respondents indicated that their overall attitude towards Greece as tourist destination changed as a result of their consumption of the telecast of Athens 2004. Considering that the attitudes of participants in the current study improved, not as a result of first-hand experiences at the destination, but as a result of their vicarious experiences of the destination through consumption of a media telecast of a special event, the results provide insights to the efficacy of this particular telecast in developing positive attitudes with regard to Greece as a tourist destination. The results of this study could be used a benchmark for future event-related destination marketing strategies. Similarities and differences emerged between the segments with regard to the reasons as to why members of each of the clusters attitudes towards Greece as a tourist destination had improved as a result of their consumption of the telecast. While their responses appeared to be similar, the frequency in which the concepts emerged for each of the segments varied intensity. The key issues that emerged for the four clusters were the appearance of Greece; culture and history of Greece; capacity, or 'hostability', of Greece to stage the Athens 2004; and infrastructure in Greece.

The economics and politics of wilderness conservation in Australia

Wilderness conservation has a checkered history in Australian politics. Initially, wilderness was protected in national parks, and specific areas or legislation did not exist. In the 1960s, wilderness conservation became an important issue in Australian politics. Pressure from environmental groups and the general public created several conflicts. Several successes were scored by the joint efforts of interest groups, the public, charismatic individuals, the media, and support of governments and politicians. A number of areas were declared wilderness areas and several states now have wilderness protected through legislation. The 1990s have not been as good as the previous decades for wilderness. Large forest areas are still being cleared and bias toward consumptive use of forest by governments is emerging. Clearly, wilderness protection in Australia is intensely political. It is important that interest groups maintain pressure to protect future wilderness. Efforts to obtain national legislation for wilderness and to couch wilderness in terms of other aspects such as biodiversity and ecosystems values may prove necessary.

Employer requirements of economics graduates and the implications for undergraduate economics programs

In recent years there has been considerable debate about the general decline in the number of students undertaking bachelor degrees and majors in economics. The discussion has stemmed mainly from a supply-side perspective of the economics education market. The goal of this paper is to add another dimension to the debate and report the results of a survey of employers of economics graduates. Drawing on the extensive customer services literature it is argued that a market oriented, or demand-side analysis is also an important component in redressing low student enrolments and retention. A first step in adopting a market oriented approach is to determine the skills required of the economics graduates entering the jobs market. With the support of The Economics Society of Au~tralia, twenty-nine public and private sector employers were surveyed in 2002. The aim of the survey was to establish the demand for economics graduates with bachelor and honours degrees, the skills and knowledge required of these graduates, and the performance of such graduates. The study found that economic knowledge and skill were important to employers. However, the skills rated most important by employers were the more general or 'generic' skills of clear writing, data analysis, interpersonal skills and a practical problem-solving orientation. While graduates generally performed satisfactorily in relation to the economic skills required by employers, this was not the case for generic skills. The result of the survey findings have some significant implications for the content and teaching of undergraduate economics programs. This paper outlines these implications and also discusses areas for future research It is argued that such research should aim to utilize both the demand and supplyside perspectives with the development of more precise definitions and measurement of the economic skills required by the various stakeholders in the economics education market.

The media and the development of the tourism industry during the 20th and 21st centuries: an analysis of four noteworthy cases

The aim of this paper was to explore the role of the media within the context of tourism, specifically with regard to how the media has influenced the activities and perceptions of the tourism sector. In this paper, the term ‘media’ is referred to as mass communication, specifically with regard to newspapers, magazines and broadcasting. It is important to gain a better understanding of the ways in which the media has interacted with the tourism sector, as this information can provide practitioners and academics with insights as to how the media can best be employed to benefit stakeholders of the tourism industry. Lessons can be learned from the past so that the experience gained from it can contribute to best practice in the future. In this way, strategies can be developed to minimise the vulnerability of the tourism sector to damaging or erroneous portrayals of it and its activities in the media.
The case study method was used to explore the role of the media within the context of tourism. Four case studies provided insights on this topic. The four case studies were selected based on their diversity, within the context of the tourism sector, and because they covered a considerable period of time. These variables provided the researchers with a wide-ranging perspective on the topic.
The paper firstly focuses on the 1920’s Waiters’ Strike in the resort town of San Sebastián, Spain, and discusses the role of the media in relation to this event. The second case investigates the use of the media as a destination-marketing tool and reflects on an early manipulation of this process by the German authorities in the documentary Olympia, a film produced for the summer Olympics in 1936. The third case study reports on the manner in which the media has created tensions between connoisseurs of fine food and drink and hospitality industry professionals, and its subsequent implications on service quality. The final case investigates the role of the media in reducing demand for hospitality services in Melbourne on New Year’s Eve 2000.
Through an analysis of these diverse, but important case studies, it can be seen that the media has had, and continues to have, an impact on the development of the tourism industry in both positive and negative ways. The limitations of this research are discussed and recommendations are made for further research that will assist in developing a more comprehensive typology of the media’s role in tourism.

Securing participation : experiments in a one-day introduction to economics

Classroom experiments and exercises served as a one-day introduction to economics for students who felt insecure about taking first-year business classes. The first experiment addresses demand in isolation, while the second addresses supply. Supply, demand and equilibrium are integrated in a pit market in which all students have equal expected profits. A monopoly pricing exercise addresses market failure. Exercises use many incremental questions to reveal principles of microeconomics. Evaluations show that at the end of the program, students were familiar with economic results and concepts, and were more comfortable with talking economics.

Institutional economics approach to irrigation management with special reference to developing countries

Neoclassical economics has failed to address irrigation management issues in developing countries successfully. Institutions are at the heart some of these failures. Many academics in various disciplines in the social sciences now emphasize the need to pay attention to the multitude of informal institutions such as rotational irrigation in developing countries and not to treat them as irrelevant for development. Water user associations have been initiated for irrigation management in many countries. These have shown much promise although many problems still constrain the full adoption of this institutional mode. Water pricing is still at its infancy and significant problems remain in the use of the market system for improved management of irrigation water.