Applied Economics of Forest and Nature - JSM760

• Title: Applied Economics of Forest and Nature
• Czech title: Aplikovaná ekonomie lesa a přírody
• Guaranteed by: Department of Sociology (23-KS)
• Faculty: Faculty of Social Sciences
• Actual: from 2025
• Semester: winter
• E-Credits: 8
• Examination process: winter s.:
• Hours per week, examination: winter s.:1/1, Ex [HT]
• Capacity: unlimited / unlimited (unknown)
• Min. number of students: unlimited
• 4EU+: no
• Virtual mobility / capacity: no
• State of the course: taught
• Language: English
• Teaching methods: full-time
• Guarantor: prof. Søren Bøye Olsen
• Teacher(s): prof. Søren Bøye Olsen
• Class: External course, not for registration

Annotation

The course covers the following topics: 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; discounting, investment calculus, opportunity costs, optimal rotation age in timber production and inclusion of amenity values; valuing forestland under the risk of hazards to crop survival; forest economics under uncertainty; forestry and climate change; The economics of continuous cover forestry (close-to-nature forestry). Welfare economic aspects of forests and natural resources: Economic evaluation of non-marketed goods and services and its use in CBA Regulation of forests and natural resources. The role of forest and nature in the welfare economic analyses Throughout the course sustainability is treated in terms of how to utilise a renewable resource, and the tradeoff between conservation and usage. A key component is also the handling of time and substitutability.A core component in the course is to do calculus on economic data (mainly using spreadsheet like excel), interpret it, and relate critically to it. 
Course Coordinators: Jette Bredahl Jacobsen

Last update: Novotný Vilém, PhDr., Ph.D. (23.12.2023)

Literature

Various notes (available from the teacher) and journal articles available through the library.


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


For welfare economics: Hanley & Barbier (2009): Pricing naure.


Last update: Novotný Vilém, PhDr., Ph.D. (23.12.2023)