LV EN RU DE FR

Forest Policy and Economics II

Course developers

Prior knowledge

MežZ3083, Forest Policy and Economics I

Replaced course

MežZB009 [GMEZB009] Forest Policy and Economics II

Course abstract

Students become acquainted with the basic principles of forest economics and economic and political aspects of forest resource management planning, development trends of international market and economic sector, including bio-economy. During the practical works the basic principles of forest resource assessment and decision-making structure are acquired.

Learning outcomes and their assessment

1. Understands the role of forest resources in the development of national economy and the conditions of the development of forest economy - Test 1.
2. Knows assessment methods of forest land and forest resources - Test 2.
3. Students are able to develop decision-making model of forest resource management planning and justify their opinions - practical works.
4. Students are able to prepare presentations and analyze informative materials on the development of the market trends of forest resources, timber and wood products and to justify their opinions – home works.

Course Content(Calendar)

1. Forest resources in the World, Europe and Latvia and their role in the development of national economy - 2 h.
2. Basic concepts of forest economy.
3. Peculiarities and development conditions of forest economy - 2 h.
4. Forestry and free market principles.
5. Supply, demand and price of timber and non-wood products and services - 3 h.
Test 1
6. Forest value and methods of assessment.
7. Methods of determining timber value and principles of calculating the optimum rotation period.
8. Non-wood forest values and their economic assessment - 2 h.
9. Economic opportunities of land use for development of multiple forestry - 2 h.
10. Forest as capital and investment.
11. Impact of taxes, fees, subsidies and other payments on forest management - 2 h.
Test 2
12. Decision making and risk factors in forest management - 2 h.
13. Market of forest land and forest property.
14. Market of timber and wood products in Latvia, Europe and the World.
15. Global market and international trade of forest products - 2 h.
Seminar
16. Forest certification – 2 h.
17. Bioeconomy – 2 h.
Seminar

10. Forest as capital and investment. (Lecture + Practical work)
11. Impact of taxes, fees, subsidies and other payments on forest management. (Lecture 2h + Practical work)
Test 2
12. Decision making and risk factors in forest management. (Lecture 2h + Practical work)
13. Market of forest land and forest property. (Lecture + Practical work)
14. Market of timber and wood products in Latvia, Europe and the World. (Lecture + Practical work)
15. Global market and international trade of forest products. (Lecture 2h + Practical work)
Workshop (2h)
16. Forest certification. (Lecture 2h + Practical work)
17. Bioeconomy. (Lecture 2h + Practical work)
Workshop (2h)

Requirements for awarding credit points

During the semester, 2 written tests shall be carried out, the subject of which covers the issues affected by lectures, the practical work themes, and the information to be acquired independently.
All practical works provided in the lesson plan must be worked and credited. Need to participate in the workshops and tests must be successfully written.

Description of the organization and tasks of students’ independent work

Must prepare independently for tests, practical work and workshops.
For workshop lessons, students prepare presentations independently on certain topics falling within the theme of the course plan.

Criteria for Evaluating Learning Outcomes

The final score is cumulative, which is shaped from the assessment of 2 tests (each 30 %), practical and independent work (total 30 %), and activities during lessons (total 10 %).
Student presentations shall be evaluated in accordance with the assessment procedures set out therein.
The assessment of knowledge, skills and competence takes place on a 10-grade scale. A student may obtain a successful mark in a test, practical work and workshop if at least 50% of the questions are answered correctly.
The tests are in writing, allowing consumables only for practical tasks. If the assessment of the test or practical
work is unsuccessful, the overall rate of study course rating is unsuccessful.
Attendance of lectures and lessons is mandatory. The delayed and uncounted practical works are reworked at the time and order specified by the Department of Forest utilization.
In case of unsuccessful quiz, for oral answer or rewriting is given one option at the time specified by the Department of Forest utilization.

Compulsory reading

1. Ollikainen M., Amacher G.S., Koskela E. Economics of Forest Resources. Massachusetts London, England: The MIT PressCambridge, 2009. 397 p.
2. Peter H. Pearse. Introduction to Forestry Economics. UBC Press, 1990 - Business & Economics - 226 pages

Further reading

1. Daowei Zhang, Peter H. Pearse. Forest Economics. UBC Press, 2012. 412 p.
2. Klemperer W.D. Forest Resource Economics and Finance. New York etc.: McGraw-Hill, Inc., 2003. 551 p.
3. Economics of Forestry. Roger A. Sedjo (Editor). Routledge, 2017. 498 p.

Periodicals and other sources

1. Starptautiskais zinātnisko rakstu krājums "Baltic Forestry". ISSN 1392-1355
2. Zinātniskais žurnāls “Forest Policy and Economics”. ISSN 1389-9341

Notes

For academic bachelor study program “Sustainable forestry” students