'Forestry involves using land, labour and capital to producegoods and services from forests, and economics helps in understandinghow we can do this in ways that will best meet the needs ofpeople.' -- from the Preface
This important new textbook is designed to fit the needs of studentsin a second-year course in forestry economics. It assumes completion ofan introductory course in economics. The author is Peter H. Pearse, aninternationally recognized natural resource economist. He teachesundergraduate courses at the University of British Columbia andunderstands the need for a book such as this.
Pearse was motivated by a conviction that a firm grounding ineconomics is integral to sound forestry policies and practices. Becauseforestry students are sometimes skeptical about the usefulness ofeconomics to their future careers, Pearse has 'distilled thesubject down to the fundamentals, the basic economic principles offorestry and how they bear on forest management and policydecisions.' He emphasizes concepts that foresters will find mostuseful throughout their careers.
Introduction to Forestry Economics looks at the applicationof economic principles to both private and public sector forestrydecision-making. While the text covers basic principles such asopportunity cost, equimarginal conditions, and consumer sovereignty, italso provides an excellent discussion of resource allocation overtime.
Table of Contents:
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
About the Author :
Peter H. Pearse is Professor of Forest ResourceManagement at the University of British Columbia. He is also aRegistered Professional Forester.
Review :
My general evaluation of the book is that it can become a very good textbook for an introductory course in forest economics, where the main challenge is to give students some capabilities of economic analysis. The way it is written will ensure that the students are not alienated by the economic jargon and theory and will give the lecturer the opportunity to get the important message across. - Luis Constantino, Department of Rural Economy, University of Alberta I would expect that this book will become a standard item on the bookshelves of all forestry graduates in Canada, and on the bookshelves of most resource economists. - Dale L. Hull, Director, Economic Policy Analysis Division, Energy, Mines and Resources Canada
