Economics of Forests, Restoration and Fire
Natural resources generate economic benefits, both from "provisioning" services like timber and grazing, and "regulating" services like stable fire regimes and water quality. Strategies for supplying these services vary across public and private land owners. Production theory is explored to understand these strategies, at first within the context of the timber market and then applied to land restoration/maintenance. This course will review basic microeconomic principles using examples of ecosystem services.