Forest Economics

By Daowei Zhang and Peter H. Pearse; Foreword by Clark S. Binkley

UBC Press

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. Topics range from valuation of forest investments and unpriced forest goods and services to property rights, taxation, and global issues of forests and the environment. Review questions and suggestions for further readings appear at the end of each chapter.

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 undergraduate and graduate courses in 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.

An indispensable resource for students and practitioners of forest management, natural resource conservation, and environmental studies.

RELATED TOPICS: Business & Industry, Environmental Conservation & Sustainability, Environmental Studies, Forestry, Resource Studies

Pearse’s 1990 textbook has influenced a whole generation of forest economists in Canada. This new book by Zhang and Pearse holds the promise of serving as an important reference on forest economics in North America and elsewhere in the Englishspeaking world for many years to come. Dr. Sen Wang, Canadian Forest Service, Forest Chronicle

Daowei Zhang is a professor of forest economics and policy in the School of Forestry and Wildlife Sciences at Auburn University. Peter H. Pearse is a professor emeritus at the University of British Columbia, a forester RPF (Ret), and a member of the Order of Canada.

Foreword

Preface

Part 1: Market, Government, and Forest Investment Analysis

1 Forestry’s Economic Perspective

2 Market Economy and the Role of Government

3 Forest Investment Analysis

Part 2: The Forest Sector – Timber, Land, and Beyond

4 Timber Supply, Demand, and Pricing

5 Unpriced Forest Values

6 Land Allocation and Multiple Use

Part 3: Economics of Forest Management

7 The Optimal Forest Rotation