Forestry cannot be isolated from the forces that drive all economic
activity. It involves using land, labour, and capital to produce goods
and services from forests, while economics helps in understanding how
this can be done in ways that will best meet the needs of people.
Therefore, a firm grounding in economics is integral to sound forestry
policies and practices.

This book, a major revision and expansion of Peter H. Pearse's
1990 classic, provides this grounding. Updated and enhanced with
advanced empirical presentation of materials, it covers the basic
economic principles and concepts and their application to modern forest
management and policy issues. Topics range from valuation of forest
investments and unpriced forest goods and services to property rights,
taxation, and global issues of forests and the environment. Review
questions and suggestions for further readings appear at the end of
each chapter.

Forest Economics draws on the strengths of two of the
field's leading practitioners who have more than fifty years of
combined experience in teaching undergraduate and graduate courses in
forest economics in the United States and Canada. Its comprehensive and
systematic analysis of forest issues makes it an indispensable resource
for students and practitioners of forest management, natural resource
conservation, and environmental studies.

Daowei Zhang is a professor of forest economics
and policy in the School of Forestry and Wildlife Sciences at Auburn
University. Peter H. Pearse is a professor emeritus at
the University of British Columbia, a forester RPF (Ret), and a member
of the Order of Canada.