Course Description

Course Synopsis: This course focuses on the sustainable production, utilization, and marketing of wood and other non-timber forest products (NTFP) in conjunction with the promotion of the sustainability of forest ecosystem services. The course also covers topics on creating forest-based livelihood opportunities for local communities, payments for ecosystem services (PES), and other economic instruments, including financial statements; analysis and basic concepts of economic valuation of forest ecosystem services; concept and theory of utility and welfare economics; types of economic value; approaches in economic valuation; steps involved and methods of economic valuation; forest resource accounting; and applications of economic valuation including benefit cost analysis. Case studies in economic valuation of forest ecosystem services are included. The course dwells on status, classification, and dynamics of the world’s forest resources including roles of forest resources in socio-economic expansion, sustainable development, and international trade in wood and non-wood forest products. The course also covers timber, non-timber (e.g. rattan, bamboo, resin/oleoresin, herbal/medicinal plants, etc.), and non-wood forest products (e.g. water, biodiversity, recreation, etc.) for socio-economic development. This course requires a prerequisite knowledge on the concepts and principles of sustainable development including its multiple uses, economic and social implications, and conservation of tropical forests. Its relationship with environmental management systems and criteria and indicators in forest certification are discussed.

Course Prerequisites

This course is designed for Master’s level students studying forest management. It assumes a basic understanding in a range of disciplines, but in recognition that not everyone taking the course will have this knowledge, links are provided to sources of further information. Some knowledge of ecosystem services and resource valuations would be advantageous but not mandatory.