Oct 22, 2021  
2020-2021 Catalog 
2020-2021 Catalog [ARCHIVED CATALOG]

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BASF 422 - Natural Resources Economics

5 credits

Admission to the BAS-FRM program or instructor permission.

This course emphasizes the practical understanding of distribution of limited resources, be it financial or physical. Financial topics in this class include forest resources valuation and financial analysis concepts, inflation, risk and uncertainty, taxes related to both property ownership and business, and financial decision making. The student will become familiar with parts of a contract, including boilerplate clauses and specialized terms related to logging, road building, and timber sales. Timber sales and unit appraisal are additional topics covered. Labs will focus on computational problems and associated computer software used in the forest management industry.

Course Outcomes
  • Explain forest resources valuation in context of both private and public land
  • Complete basic financial analysis for various forest operations and practices
  • Compare and contrast inflation, risk and uncertainty in financial decision making
  • Appraise taxes and fees associated with land ownership and resource extraction
  • Compose and evaluate standard contracts for a variety of forest activities
  • Compile standard timber sale appraisals with acceptable industry software programs

BAS-FRM degree course.

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