Economics of Forests
Information from the course leader
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Additional course evaluations for SG0246
Academic year 2019/2020Economics of Forests (SG0246-30012) 2020-01-20 - 2020-03-24
SG0246 Economics of Forests, 15.0 CreditsSkogens ekonomi
SubjectsBusiness Administration Forest science
Education cycleBachelor’s level
|Forest and natural resource economics||7.00||1004|
Advanced study in the main fieldFirst cycle, entry requirements only from upper secondary school(G1N)
Prior knowledgeBasic eligibility for higher education and knowledge equivalent
- mathematics 4.
ObjectivesThe aim of the course is to introduce economic concepts, theories and methods applied by decision makers in households, companies and society in the economic analysis of decision-making problems, especially related to forest problems.
Upon completion of the course the student should be able to:
- briefly describe distinctive features in the Swedish economy and overall operational conditions for Swedish forestry and forest industry as well as Swedish bioeconomics,
- explain the concepts and theories in micro theory, and demonstrate the ability to apply these to study and analyze effects on price formation and resource management in an economy,
- describe business forms and organizational structures, explain basic business economics concepts, and demonstrate skills in applying these to solution and analysis of business problems,
- apply business economics and economics methodology for cost-benefit analysis of basic forest decision-making problems,
- briefly explain the concepts and methodology of forest management planning for basic problems and analyzes among private non-industrial forest owners as well as forest companies and society,
- describe and apply concepts and theories for analysis of natural resource problems including valuation of non-marketed goods, as well as identify and explain various causes of market failures, and
- Describe and apply the basics of scientific writing to a problem linked to the course content.
ContentLectures present theories and methods, and by use of numerical study assignments, group work and case studies, the student is trained in applying theories and methods for economic analysis of common decision-making problems in households, companies and society. Great emphasis is placed on skills training in describing and analyzing a decision problem, i.e. to use correct concepts and methods, perform numerical calculations, as well as interpret and analyze the outcome of used models, especially in connection with forests. The course consists of four parts: microeconomics, business administration, forest economics and forest management planning, as well as natural resource economics. Microeconomics takes off in a societal perspective, focusing on households and companies’ contribution to Swedish economy with special focus on bioeconomics. Specific focus is on the forestry´s and forest industry´s operational conditions and their role in the bioeconomy. Furthermore, the moment deals with microeconomic theory, such as theories of supply, demand and market equilibrium, production and cost theory, as well as market forms and economic instruments. The moment of business administration provides an orientation in business economics with the purpose of giving an overall understanding of the processes and functions of the company including organization theory, accounting and calculation.
Forest economics and forest management planning focuses mainly on fundamental economic theories related to forestry, the forestry company and its planning. Cost-benefit analysis is applied to study optimal rotation periods, thinnings and land values. An example include the private forest owners’ decisions regarding how to manage their properties with respect to different aspects of their ownership. Also, management perspectives from other owner categories are introduced as well as forest decision support systems (such as Heureka).
Natural resource economics focuses on economic concepts and theories related to natural resources in general, both renewable and non- renewable, and is based on sustainability and bioeconomic reasoning. Particular attention is given to the way in which economic theory is used to analyze the utilization of these types of natural resources and how ownership forms are important for the management of natural resources. The moment also informs about differences in valuation between market-priced and non-marketable resources.
Report writing is a compulsory element, and it provides the opportunity to practice the basics of scientific writing. Other compulsory items such as seminars and workshops may occur.
Formats and requirements for examinationPassed written exam, approved written assignments and approved report.
- If the student fails a test, the examiner may give the student a supplementary assignment, provided this is possible and there is reason to do so.
- If the student has been granted special educational support because of a disability, the examiner has the right to offer the student an adapted test, or provide an alternative assessment.
- If changes are made to this course syllabus, or if the course is closed, SLU shall decide on transitional rules for examination of students admitted under this syllabus but who have not yet passed the course.
- For the examination of a degree project (independent project), the examiner may also allow the student to add supplemental information after the deadline. For more information on this, please refer to the regulations for education at Bachelor's and Master's level.
- The right to take part in teaching and/or supervision only applies to the course date to which the student has been admitted and registered on.
- If there are special reasons, the student may take part in course components that require compulsory attendance at a later date. For more information on this, please refer to the regulations for education at Bachelor's and Master's level.
Additional informationSLU is environmentally certified according to ISO 14001. A large part of our courses
cover knowledge and skills that contribute positively to the environment. To further
strengthen this, we have specific environmental goals for the education. Students are
welcome to suggest actions regarding the course’s content and implementation that lead
to improvements for the environment. For more information, see webpage www.slu.se.
SLU is certified in accordance with PRIME-principles, Principles for Responsible Management Education (http://www.unprme.org/). This course concerns understandings, models and methods for sustainable development.