Forestry involves using land, labour and capital to produce goods and services from forests, and economics helps in understanding how we can do this in ways that will best meet the needs of people. This textbook is designed to fit the needs of students in a second-year course in forestry economics. It assumes completion of an introductory course in economics. The author is Peter H. Pearse, an internationally recognized natural resource economist. Pearse was motivated by a conviction that a firm grounding in economics is integral to sound forestry policies and practices. Because forestry students are sometimes sceptical about the usefulness of economics to their future careers, Pearse seeks to distill the subject down to the fundamentals, the basic economic principles of forestry and how they bear on forest management and policy decisions. He emphasizes concepts that foresters will find most useful throughout their careers. "Introduction to Forestry Economics" looks at the application of economic principles to both private and public sector forestry decision-making.
While the text covers basic principles such as opportunity cost, equimarginal conditions, and consumer sovereignty, it also provides a discussion of resource allocation over time.
Peter H. Pearse is Professor of Forest Resource Management at the University of British Columbia. He is also a Registered Professional Forester.
1. Forestry's Economic Perspective 2. Economic Efficiency and Market Failures in Forestry 3. Timber Supply, Demand, and Pricing 4. Unpriced Forest Values 5. Land Allocation and Multiple Use 6. Valuation over Time and Investment Criteria 7. The Optimum Forest Rotation 8. Regulating Harvests over Time 9. Property Rights and Tenure Systems 10. Taxes and Other Charges 11. Developments in Forestry Economics
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- ID: 9780774803366
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