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Lecture 1&2
The world, and Australian agriculture
Reading for this topic:
• Chapter 1 Agriculture in Australia, p3-10.
• Article ‘Still Hungry’ by Pinstrup-Anderson and Cheung,
Scientific American, September 2007.
• Article ‘Global Food Security: facts, Issues and implications’ by
Moir and Morris, Science and Economic Insights, Vol1, 2011,
ABARES.
• Lecture 1&2 PPT slides
(The readings are on the LMS)
Lets Start with the history of
agriculture
Now let’s think about the world food
situation and where Australia fits
into the story
First, WHAT IS AN ECONOMY?
Australia and the rest of the world
Economic growth
Increase in goods and services in an economy per
head of population
• Benefits of trade
– Trade can benefit everyone in a
society and in different countries
because it allows people to specialise
in activities in which they have a
comparative advantage.
• Each person consumes goods and
services produced by many other people
both in our country and around the
world.
• Trade allows everyone to enjoy a greater
quantity and variety of goods and
services.
• Trade makes everyone better off
because it allows people to specialise in
those activities in which they have a
comparative advantage – both parties to
a trade deal gain
TRADE NOT AID: