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Handbook 1997 : Faculty of Agriculture, Forestry and Horticulture : Forestry

211-447 Forest Economics 2

Credit Points:

6.25

Coordinator:

Professor I S Ferguson

Timetable:

Semester 1

Contact:

Equivalent to 13 hours of lectures and 20 hours of practical work

Objectives:

On completion of this course, students should be able to perform simple cost-benefit analyses, have an understanding of welfare economics and the questions of efficiency and distribution, be able to make resource management decisions on an economic basis, be familiar with the methods for the economic valuation of non-market goods.

Content:

Financial analysis: inflation, discounting, taxes and subsidies, criteria. Principles of welfare economics. Economic analysis: criteria, opportunity costs, market prices vs shadow prices, transfer payments, non-market goods and services. Water resource economics: scarcity prices. Recreation economics: willingness to pay, travel cost method, introduction to contingent valuation. Conservation economics: public consumption goods, hedonic prices, contingent valuation, problems of biodiversity and global warming.

Assessment:

One 2-hour written examination at the end of the semester and up to two practical reports each up to 1000 words.
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Handbook 1997 : Faculty of Agriculture, Forestry and Horticulture : Forestry 
Status:                   OFFICIAL 1997
Last Modified:            Wednesday March 12 3:36 pm
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Email Enquiries:          Course_Information@registrar.unimelb.edu.au
Copyright © University of Melbourne 1997.