The course provides knowledge about economic theories (micro and macroeconomics) applied to forest processes; besides about forest enterprises' choices in the short and long term, demand and supply of forest products, the principles of market functioning, analysis of international, national and local wood market .
I. Bernetti, S. Romano (a cura di), Economia delle risorse forestali (Vol I e II), Liguori Ed., Napoli, 2007
M. Merlo, Elementi di Economia ed Estimo Forestale-Ambientale, Patron Ed., Padova, 1992
D. Pettenella, Le nuove sfide per il settore forestale. Mercato, Energia, Ambiente e Politiche, 2009
C. Fagarazzi, A. Tirinnanzi (a cura di), Strumenti per lo sviluppo di filiere biomassa energia di qualità, Biglia editore, 2015.
Learning Objectives
Provide the basis for carrying out economic and financial analysis and assessments in the forest sector, useful for professional activity and research.
The student must acquire basic knowledge relating to political economics, financial mathematics, and business economics in the agro-forestry sector.
The aim of the course is to provide knowledge and encourage personal skills to identify the management conditions of the forest territory from the point of view of economic convenience and economic development opportunities.
The expected learning outcomes can be summarized in some specific points:
a) Ability to answer microeconomic questions (political economy);
b) On the basis of the type of forest considered (coppice and / or forest) evaluation of the economic potential in terms of production and conservation of the forest.
c) Ability to use the financial calculation.
d) Ability in processing a small-scale calculation project for stumpage value.
Prerequisites
Knowledge of basic mathematics.
Teaching Methods
Frontal lectures, use of software for exercises and assessment of forest investments.
Online lessons are also provided using the software suitable f(G-Meet, Webex).
Organization of data collection, and compilation of questionnaires for forest enteprises; determination production costs of forest enterprise.
Further information
Educational activities include .
Market surveys related to the sale of standing woods, semi-transformed and / or transformed wood.
Type of Assessment
Oral examination with financial mathematics exercises and discussion of theoretical economic topics.
May be provided an intermediate test of financial mathematics and political economy which can have up to a maximum value of 40% of the exam grade.
The examination includes the assessment of knowledge about financial mathematics and forest economics.
During the exam, several questions will be asked for each of the topics indicated in the training objectives in order to verify the degree of learning. The score must take into account the student's ability to solve the problems posed and the completeness of the answers based on the cultural background acquired.
Course program
- Forest resources and the wood market.
- Changes in the demand curve;
-. Overview of the demand and environment curve;
- Supply of forest products;
-. Revenues and production costs;
-. Average and marginal costs;
-. Profit maximization;
- Market equilibrium;
- The market of perfect competition;
- Market equilibrium;
- Movements of the equilibrium point
- Adjustment of the balance point
Supply and demand of timber.
Short-term demand and supply of timber. Evaluate non-market forestry productions;
Financial mathematics;
Stumpage value;
Introduction to bioeconomy issue