Aquaculture economics: An overview
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The economics of aquaculture is reviewed on two levels: micro and macro. Micro-economics in aquaculture deals mainly with the management measures and elements affecting the efficiency of operation at the farm level, while macro-economics addresses the assessment of social benefits and costs of an aquaculture project. If aquaculture is socially beneficial but unattractive to private investors, public support on credit, marketing, extension, training, and research may be appropriate, especially during the early stages of development.
The importance of economic analysis is emphasized since it provides a basis not only in the decision making of the individual farmer, but also in the formulation of aquaculture policies. Thus, greater attention should be focused on the improvement of economic data for analysis.
KeywordsDecision Making Marketing Environmental Management Economic Analysis Social Benefit
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