Forest Economics
Entry Requirements
- Mathematics 3
Course facts
FÖ0479, Forest Economics, 7.5 Hp
Print syllabus
Syllabus
Finalized by: Programnämnden för utbildning inom skog (PN - S), 2021-11-17
Valid from : Autumn semester 2022 (2022-08-29)
Level
First cycle (G1N)
Main field of study
Business Administration, Economics
Grading Scale
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.
Course language
Swedish
Entry Requirements
- Mathematics 3
Objectives
The purpose of the course is to provide basic knowledge in business administration and economics, and to develop an understanding of how these are applied in forest resource management.
After finished course, the student is expected to
- describe and understand price formation on a market according to the market model
- describe and understand how and why prices changes according to the market model
- describe and understand how to value a non-market goods, e.g., ecosystem services
- describe and explain rational decision-making on forestry measures, and how trade-offs between different forest ecosystem services affect optimal decisions
- describe and analyse design, follow-up and analyse a forest company’s economy, including ethical and sustainable aspects
- demonstrate ability to orally present and discuss forest-economic related problems.
Content
The course consists of three main themes: economics, forest economics and business administration.
Economics focuses on price formation in a market economy according to the microeconomics’ market model, but also provides an orientation in macroeconomics. Key concepts such as market, demand, supply, equilibrium price and comparative statics are addressed. The section also contains an introduction to theories and empirical methods for measuring the forest ecosystem services, as well as a description of key concepts in the economics such as GDP, inflation and unemployment.
Forest economics focuses on economic theories of optimal management and utilization of forest resources as well as methods for finding the optimal course of action. The theme covers both traditional forestry, which focuses on timber production, and multiple use of forests. The theme also includes an introduction to economic models for comparing different forestry methods.
Business administration provides an orientation in business administration theory with the main purpose of developing an understanding of processes and functions in companies. The part includes understanding business financial reports and sustainability reports together with an understanding of the companies’ objectives and risk planning.
The course combines lectures on theories and methods, with skills training using numerical examples, group work and case studies with the goal of training the student in developing knowledge and understanding of common decision problems in households, companies and society and how they affect each other. Great emphasis is placed on skills training by developing an understanding of decision problems, with correct concepts and methods, in order to be able to explain the role of the forest in sustainable bioeconomy.
Within the course, the student develops skills in handling common computer programs (such as Excel), and the ability to orally present and discuss financial issues. Obligatory guest lectures and seminares are part of the course.
Examination Formats and Requirements for Passing the Course
Approved written exam, approved written assignments and approved oral presentation as well active participation in compulsory parts.
Responsible Department/Equivalent
Department of Forest Economics
Supplementary information
Included in program
- Forest Science (BSc)
Module set
| Title | Credits | Code |
|---|---|---|
| Business administration | 3.0 | 0001 |
| Economics | 3.0 | 0002 |
| Forest economics | 1.5 | 0003 |
The Course Replaces
SG00246
Other Information
SLU is certified in accordance with PRIME-principles, Principles for Responsible Management Education (http://www.unprme.org/). Further, SLU is environmentally certified according to ISO 14001. A large part of our courses covers knowledge and skills that contribute positively to the triple bottom line, environmental social and financial value creation. To further strengthen this, we have specific sustainability goals for the education. Students are welcome to suggest actions regarding the course’s content and implementation that lead to sustainability improvements for the environment. For more information, see webpage www.slu.se.