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As the federal government pursues the legalization of the recreational cannabis industry under the proposed Cannabis Act, a group of Okanagan College School of Business students will seize the opportunity to learn about the regulatory process and business impacts in a new course offered this fall.
“Our third- and fourth-year students will have an unprecedented chance to monitor the regulatory and legislative process of a new sector as it unfolds,” says David Cram, the course’s instructor and a 26-year veteran Okanagan College professor. “The reality is students are hearing and reading about this topic and can relate to it. Our goal is to join the conversation by providing them with an unbiased research-based perspective.”
Topics covered in the Bachelor of Business Administration degree elective course titled The Emerging Marijuana Industry will include: regulation requirements, legal and legislative frameworks, pricing issues and risk assessments, impact on auxiliary industries (such as tourism, health, agriculture, law enforcement), and business ethics. The course is intended to provide an objective perspective and will not include manufacturing or technical operational content.
“There is great benefit in preparing a business community to know more about the cannabis industry that is clearly shaping up to be an important part of Canada’s growing economy,” says Cram. “One way to mitigate industry challenges is to promote and advance research. The more we know, the more oversight and accountability, the better and safer people will be.”
A CIBC World Markets report published last year estimated the national recreational cannabis industry is valued at $5-10 billion. Medicinal use is legal and has been a popular treatment for some ailments and pain managements including for arthritis and cancer. The course will also discuss the legitimate medicinal side of the industry.
“As educators, we have a responsibility to prepare students for the world ahead by providing a thought-provoking learning environment,” says William Gillett, Dean of the Okanagan College School of Business. “Our special topic courses, such as this one, are relevant to the changing and emerging business environment students will face upon graduation.”