Course objectives: After covering the basic concepts of economics as applied to rural resources, the module offers 6 sub-modules in forestry economics, environmental economics, budgeting and accounts, economic development, agroforestry economics, and timber markets. Students choose at least two of these sub-modules. Thus the module aims to cover: 1. the economic analysis of the effects of natural, economic, political and social factors on rural resource use; 2. the economic appraisal of land use options; 3. theory and application of economics and accounting to specific rural resource topics.

Course content: Introductory economics of demand and supply, time and discounting, policies and democracy,

                  forestry economics, environmental economics, economic development – some key international topics, budgeting and accounts, agroforestry economics, timber markets – global and UK.

Teaching and learning methods: 1. Introductory lectures, all morning for 6 days, then 2 electives or 3 half days each 2. Practicals, as part of sub-modules, particularly budgeting.

Examination: Students must submit an assignment for one sub-module and this will constitute 100% of the module assessment. The form of assessment will be essay, seminar presentation and handout or budgeting construction and appraisal.  Marks are moderated by an independent member of School staff and an External Examiner.

Competences acquired: By the end of the module participants should be able to: understand and forecast the effects of market forces and policy interventions as they apply to rural resources; undertake basic economic appraisals of land use options and make intelligent comment on appraisals of other professionals; engage in informed discussion regarding current theory and application of at least two areas of rural resource economics and/or accounting

Course homepage:

                  http://www.senr.bangor.ac.uk/courses/pg/course_summary.php?courseID=MEF&qual=msc&type=1