Unit Code: FOR503

Unit Title: Forest Economics & MarketingΒ 

The unit introduces the students to basic knowledge on forest economics and marketing which covers the following instructional areas: definition of economics and marketing, forest goods and services, application of the economic principle to forest resources, decision making in single and multiple resources use; cost-benefit analysis, principles of micro and macroeconomics, the role of forests and forestry in the Solomon Islands and regional economies, the understanding of different factors that influence forestry investment in the Solomon Islands, risk and uncertainty in forest investment, economic evaluation of forestry projects and investments, forest valuation, the basis of compensation rate calculation, IRR and net present value, the importance of time dimension and capital costs in the forest sector, the 4 Ps of marketing, marketing functions of products and contacts, international trade; other forestry commodity marketing and problems of forestry marketing in Solomon islands.