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Economics of Forests

The forest is an important renewable natural resource. The forest can be used in many different ways. How we manage it, for what we use it will affect income, employment and welfare in forest companies and society. During the course an orientation about the institutional conditions for forest management in Sweden will be presented. Furthermore, basic economic theories aimingd at a rational economic use of forests and other renewable natural resources will be studied.

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The course evaluation is now closed

SG0246-30063 - Course evaluation report

Once the evaluation is closed, the course coordinator and student representative have 1 month to draft their comments. The comments will be published in the evaluation report.

Additional course evaluations for SG0246

Academic year 2019/2020

Economics of Forests (SG0246-30012) 2020-01-20 - 2020-03-24

SG0246 Economics of Forests, 15.0 Credits

Skogens ekonomi

Syllabus approved



Business Administration Forest science

Education cycle

Bachelor’s level


Title Credits Code
Business administration 3.00 1002
Economics 3.50 1003
Forest and natural resource economics 7.00 1004
Scientific writting 1.50 1005

Advanced study in the main field

First cycle, entry requirements only from upper secondary school(G1N)

Grading scale

5:Pass with Distinction, 4:Pass with Credit, 3:Pass, U:Fail The requirements for attaining different grades are described in the course assessment criteria which are contained in a supplement to the course syllabus. Current information on assessment criteria shall be made available at the start of the course.



Prior knowledge

Basic eligibility for higher education and knowledge equivalent
- mathematics 4.


The 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.


Lectures 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 examination

Passed 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.

Other information

  • 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 information

SLU 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
SLU is certified in accordance with PRIME-principles, Principles for Responsible Management Education ( This course concerns understandings, models and methods for sustainable development.

Responsible department

Department of Forest Economics
Cooperating departments:
Department of Forest Resource Management

Further information

Determined by: Programnämnden för utbildning inom skog (PN - S)
Replaces: SG0151 vilken tidigare ersatte SG0143 och SG0115
There are no Grading criteria posted for this course
1) Mikroekonomi
Author: Robert Lundmark
ISBN: 9789144082547
Comments: Kan beställas på:
2) Skogsekonomi - en introduktion
Author: Sören Wibe
Comments: Kompendium - erhålles från inst för skogsekonomi
3) Att skriva en bra uppsats
Author: Lotte Rienecker och Petter Stray Jörgensen
ISBN: 978-91-47-11151-0
Comments: Liber AB. En bra handbok om vetenskapligt skrivande som kan användas under senare kurser.
4) Vår ekonomi i korthet
Author: Klas Eklund
Comments: rekommenderad litteratur
5) Repetitionshäfte matematik
Author: Sören Holm
6) Kalkyler som beslutsunderlag
Author: Andersson, G
Comments: Rekommenderad bredvidläsning! Huvudbok + övningsbok. Bra för att träna kalkyler
8) Affärsredovisningen
Author: Thomasson, J, Arvidsson, P, Lindqvist, H. Larsson, O. Rohlin L.
Comments: Rekommenderat Bredvidläsning Huvudbok + övningsbok - bra för att träna bokföring och bokslut
9) Tradegy of the Commons
Author: Hardin, G.
Comments: Referenslitteratur

Course facts

The course is offered as an independent course: No The course is offered as a programme course: Forest Science - Master´s Programme Tuition fee: Tuition fee only for non-EU/EEA/Switzerland citizens: 38054 SEK Cycle: Bachelor’s level
Subject: Business Administration Forest science
Course code: SG0246 Application code: SLU-30063 Distance course: No Language: Swedish Responsible department: Department of Forest Economics Pace: 100%