An ecosystem approach means different things to different people. As a result the concept of ecosystem-based fishery management is evolving and it has no universal definition or consistent application. As regards ecosystem modeling, most economic models of fishery ignore the linkages to lower trophic levels. In particular, environmental data and other bottom-up information is widely disregarded. The objective of this paper is to provide a critical review of concepts and ecological economic models relating to ecosystem-based fishery management.