Peter H. Pearse

A firm grounding in economics is integral to sound forest management, investment, policies, and practices. Forest Economics covers the basic economic concepts, principles, and constructs and shows how these are applied in private and public forestry decision making. This comprehensive edition contains up-to-date data, examples, and applications of economic principles, along with literature and study questions, and additional valuable content in several key areas: forest finance and forestland investment/ownership, including financial economic models simple interest rate and risk measurements market distortion consumer theory priced non-timber values and payment for ecosystem services land rent theory the economics of forest management planning and forest health/wildfire economics an international comparison of forest taxes and fees property rights beyond the private/public ownership binary the measurement of competitiveness in international trade a new theory of foreign direct investment. The advanced empirical presentation and keen attention to new developments in the field reflect the authors' decades of teaching experience in the United States and Canada. Forest Economics is quite simply indispensable.

Forestry cannot be isolated from the forces that drive all economic activity. It involves using land, labour, and capital to produce goods and services from forests, while economics helps in understanding how this can be done in ways that will best meet the needs of people. Therefore, a firm grounding in economics is integral to sound forestry policies and practices.This book, a major revision and expansion of Peter H. Pearse's 1990 classic, provides this grounding. Updated and enhanced with advanced empirical presentation of materials, it covers the basic economic principles and concepts and their application to modern forest management and policy issues.Forest Economics draws on the strengths of two of the field's leading practitioners who have more than fifty years of combined experience in teaching forest economics in the United States and Canada. Its comprehensive and systematic analysis of forest issues makes it an indispensable resource for students and practitioners of forest management, natural resource conservation, and environmental studies.