Many harvested marine and terrestrial populations have segments of their ra
nge protected in areas free from exploitation. Reasons for areas being prot
ected from harvesting include conservation, tourism, research, protection o
f breeding grounds, stock recovery, harvest regulation, or habitat that is
uneconomical to exploit. In this paper we consider the problem of optimally
exploiting a single species local population that is connected by dispersi
ng larvae to an unharvested local population. We define a spatially-explici
t population dynamics model and apply dynamic optimization techniques to de
termine policies for harvesting the exploited patch. We then consider how r
eservation affects yield and spawning stock abundance when compared to poli
cies that have not recognised the spatial structure of the metapopulation.
Comparisons of harvest strategies between an exploited metapopulation with
and without a harvest refuge are also made. Results show that in a 2 local
population metapopulation with unidirectional larval transfer, the optimal
exploitation of the harvested population should be conducted as if it were
independent of the reserved population. Numerical examples suggest that rel
ative source populations should be exploited if the objective is to maximis
e spawning stock abundance within a harvested metapopulation that includes
a protected local population. However, this strategy can markedly reduce yi
eld over a sink harvested reserve system and may require strict regulation
for conservation goals to be realised. If exchange rates are high, results
indicate that spawning stock abundance can be less in a reserve system than
in a fully exploited metapopulation. In order to maximise economic gain in
the reserve system, results indicate that relative sink populations should
be harvested. Depending on transfer levels, loss in harvest through reserv
ation can be minimal, and is likely to be compensated by the potential envi
ronmental and economic benefits of the reserve.