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Syllabus

SG0246 Economics of Forests, 15.0 Credits

Skogens ekonomi

Subjects

Forest Science Business Administration Forest science Business Administration

Education cycle

Bachelor’s level

Advanced study in the main field

First cycle, has only upper-secondary level entry requirements
Bachelor’s level (G1N)

Grading scale

Language

Swedish

Prior knowledge

Basic eligibility for higher education and knowledge equivalent

- mathematics 4.

Objectives

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.

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.

Grading form

The grade requirements within the course grading system are set out in specific criteria. These criteria must be available by the course start at the latest.

Formats and requirements for examination

Passed written exam, approved written assignments and approved report.

• If a student has failed an examination, the examiner has the right to issue supplementary assignments. This applies if it is possible and there are grounds to do so.
• The examiner can provide an adapted assessment to students entitled to study support for students with disabilities following a decision by the university. Examiners may also issue an adapted examination or provide an alternative way for the students to take the exam.
• If this syllabus is withdrawn, SLU may introduce transitional provisions for examining students admitted based on this syllabus and 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 submission. Read more in the Education Planning and Administration Handbook.

Transitional provisions

The course was discontinued on May 23, 2022 (SLU.sfak.2022.3.1.1-82). Registered students that have not yet passed the course have the opportunity to do so within two years of the decision to discontinue the course. The department responsible for the course will during the two year phase-out period offer at least three retake sessions (renewed exams) and at least one opportunity to take part in compulsory elements. Students that wish to take an exam and/or take part in compulsory elements are asked to contact deputy head of department responsible for undergraduate education (or equivalent) at the responsible department to report that they wish to take an exam and/or take part in compulsory elements and to obtain information on when and where.

Other information

• The right to participate in teaching and/or supervision only applies for the course instance the student was admitted to and registered on.

• If there are special reasons, students are entitled to participate in components with compulsory attendance when the course is given again. Read more in the Education Planning and Administration Handbook.

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 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.