Forest Economics II

Course Information
TitleΔΑΣΙΚΗ ΟΙΚΟΝΟΜΙΚΗ ΙΙ / Forest Economics II
FacultyAgriculture, Forestry and Natural Environment
SchoolForestry and Natural Environment
Cycle / Level1st / Undergraduate, 3rd / Doctorate
Teaching PeriodSpring
Course ID420000069

Programme of Study: PPS Tmīmatos Dasologías kai Fysikoý Perivállontos (2020-sīmera)

Registered students: 0
OrientationAttendance TypeSemesterYearECTS
Compulsory CoursesErasmus115

Class Information
Academic Year2023 – 2024
Class PeriodWinter
Faculty Instructors
Weekly Hours5
Class ID
Course Type 2021
Specific Foundation
Course Type 2016-2020
  • Background
  • Scientific Area
Course Type 2011-2015
Specific Foundation / Core
Mode of Delivery
  • Face to face
The course is also offered to exchange programme students.
Language of Instruction
  • Greek (Instruction, Examination)
  • English (Instruction, Examination)
General Prerequisites
No prerequisites for attending the course
Learning Outcomes
Upon successful completion of the course students will be able to: Understand the financial functions of a forest holding / business based on market data Plan and evaluate the operation and viability of a forest holding / business Be able to assess the value of individual parts of forest holdings Evaluate investments in the forestry sector Use Faustmann's methodology Apply this knowledge in practice Develop entrepreneurial spirit and to be able to implement an innovative idea in business
General Competences
  • Apply knowledge in practice
  • Retrieve, analyse and synthesise data and information, with the use of necessary technologies
  • Adapt to new situations
  • Make decisions
  • Work autonomously
  • Work in teams
  • Work in an international context
  • Work in an interdisciplinary team
  • Generate new research ideas
  • Design and manage projects
  • Appreciate diversity and multiculturality
  • Respect natural environment
  • Demonstrate social, professional and ethical commitment and sensitivity to gender issues
  • Be critical and self-critical
  • Advance free, creative and causative thinking
Course Content (Syllabus)
Economics, Introduction to Forest Economics II Production Process and production systems The concept of cost in the forest production process The concept of revenue in the forest production process The concept of profit in the forest production process Theory of supply and demand, Elasticity of demand, Elasticity of supply, Income elasticity Forms and balance of the market of forest products and services The theory of capital: evaluation of forest investments Net Present Value, Cost-Benefit Ratio Cost-Benefit Analysis The problem of rotational time in Forest Economics The theory of capital: risk analysis The concept of tax in Forest Economics Economics of forest services of the ecosystem Forecasts - Statistical issues in Forest Economics
Investment evaluation, Forest value, Faustmann Formula
Educational Material Types
  • Slide presentations
  • Multimedia
  • Book
Use of Information and Communication Technologies
Use of ICT
  • Use of ICT in Course Teaching
  • Use of ICT in Laboratory Teaching
  • Use of ICT in Communication with Students
  • Use of ICT in Student Assessment
Powerpoint presentations, special videos and web pages Educational material and communication in elearning - email exchange Use of electronic secretariat and submission of grades
Course Organization
Laboratory Work501.7
Reading Assigment451.5
Student Assessment
The achievement of the learning objectives will be evaluated based on the written examination of the course. In order to obtain a passable grade (at least 5) it is required to achieve a passable grade of the final exam which includes: -To answer questions from all the course material -Solving exercises related to the subject of the course
Student Assessment methods
  • Written Exam with Multiple Choice Questions (Formative, Summative)
  • Written Exam with Short Answer Questions (Formative, Summative)
  • Written Exam with Extended Answer Questions (Formative, Summative)
  • Written Exam with Problem Solving (Formative, Summative)
  • Labortatory Assignment (Formative, Summative)
Course Bibliography (Eudoxus)
«Post-Faustmann Forest Resource Economics [electronic resource» Shashi Kant «Οικονομική Περιβάλλοντος και Φυσικών Πόρων» Tietenberg Tom, Lewis Lynne
Additional bibliography for study
Forest Policy and Economics (Journal)
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