LOJK10282U Applied Economics of Forest and Nature
MSc Programme in Forest Ecosystems, Nature and Society SUFONAMA
MSc Programme in Forest and Nature Management
MSc Programme in Forests and Livelihoods SUTROFOR
Introduction to general economics of biological production and
capital investment.
Production economics and investment theory of forests and natural
resources:
Fundamentals of forest and nature economics; interest, depreciation
and opportunity cost; costs, returns, optimal rotation age in
timber production and including amenity values; valuing forestland
under the risk of hazards to crop survival; forest economics under
uncertainty; The economics of continuous cover forestry
(close-to-nature forestry).
Applied economic analysis as a management tool, including cases
from relevant enterprises in the forest and nature based sector.
Welfare economic aspects of forests and natural resources:
Economic evaluation of non-marketed goods and services and its use
in CBA
Regulation and taxation of forests and natural resources.
Learning outcome
The course aims at imparting to the students a thorough
understanding of economic reasoning and knowledge of how to apply
economics as a tool for decision-making on the utilisation of
forests and other (renewable) natural resources in rural and urban
environments.
When the course is finished, it is expected that the student
can/have:
Knowledge:
Describe principles and procedures of forest and natural resource
economics
Identify links between the ecological processes and the economic
consequences and human goals
Understand and reflect on economic perspectives of long vs short
term management decisions
Understand the economic value of different aspects in multiple-use
forest and nature management and their possible conflicts or joint
production possibilities
Classify and reflect on principles from the theory
Understand the principles of economic valuation of non-marketed
goods
Show overview of socio-economic analysis of forest and nature goods
Skills:
Economically apply and analyse theoretical and practical models for
forest and nature management
Apply the appropriate theory and methods to relevant economic
valuation in forest and nature management
Asses the possibilities and limitations of economic theories and
methodologies related to forest and nature management
Understand and reflect critically on socio-economic analyses of
forest and nature
Apply economic theory to analyse and model the welfare and business
economic values of forests and natural resources
Competences:
Apply principles and procedures of forest and natural resource
economics to management decisions, including transferring
principles of the economic valuation from one kind of good to
another
Evaluate economically different goods and services from the same
natural resource and identify possible joint production
possibilities or economic conflicts
Discuss the relevance, reliability and validity of different
natural resource economic methods
Evaluate socio-economic analysis of forest and nature goods,
including distributional effects
Take into account the demands of society when applying bioeconomic
models in order to evaluate projects economically
Various notes.
Supplementary readings:
For the basics: Wagner (2012): Forestry Economics, a managerial
approach. Routledge
For the advanced: Amacher, Ollikainen, Koskela (2009): Economics of
Forest Resources. MIT press
LNAB10015 Natur- og landskabspolitik
Or similar courses
- Category
- Hours
- Exam
- 0,5
- Excursions
- 9
- Lectures
- 40
- Preparation
- 132,5
- Theory exercises
- 24
- Total
- 206,0
As
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Continuing Education - click here!
- Credit
- 7,5 ECTS
- Type of assessment
- Oral examination, 30 min mundlig eksamen---
- Exam registration requirements
- During exercises students will work with a series of assignments which will have to be delivered jointly before exam and accepted.
- Marking scale
- 7-point grading scale
- Censorship form
- External censorship
- Re-exam
- As the ordinary examn
Criteria for exam assesment
See learning outcome
Course information
- Language
- English
- Course code
- LOJK10282U
- Credit
- 7,5 ECTS
- Level
- Full Degree Master
- Duration
- 1 block
- Placement
- Block 2
- Schedule
- C (Mon 13-17 + Wednes 8-17)
- Course capacity
- No limits
- Continuing and further education
- Study board
- Study Board of Natural Resources and Environment
Contracting department
- Department of Food and Resource Economics
Course responsibles
- Jette Bredahl Jacobsen (3-6e666e446d6a7673326f7932686f)