Economagic Home Page
Economagic Home Page
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<td height="29" colspan="7" valign="top"><p><em><strong><font color="#FFFFFF">Find this and other learning modules at:</font></strong></em></p>
<p><a href="http://www.forestandrange.org/"><img src="./Economagic Homepage_files/forestandrange_masthead_combined.gif" width="806" height="54"></a></p></td>
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<td width="114" height="22" valign="top" bgcolor="#D6DFE9"><strong><font size="2" face="Arial, Helvetica, sans-serif"> � <a href="http://ext.wsu.edu/forestry/economagic/index.htm">Home</a></font></strong></td>
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<td height="25" valign="top" bgcolor="#D6DFE9"><strong><font size="2" face="Arial, Helvetica, sans-serif"> � <a href="http://ext.wsu.edu/forestry/economagic/lessons/index.htm">Lessons</a></font></strong></td>
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<td height="40" valign="top" bgcolor="#D6DFE9"><strong><font size="2" face="Arial, Helvetica, sans-serif"> � <a href="http://ext.wsu.edu/forestry/economagic/tools/calculator/index.html">Economagic</a> <a href="http://ext.wsu.edu/forestry/economagic/tools/calculator/index.html">Calculator</a></font></strong></td>
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<td height="25" valign="top" bgcolor="#D6DFE9"><strong><font size="2" face="Arial, Helvetica, sans-serif"> � <a href="http://ext.wsu.edu/forestry/economagic/glossary/index.htm">Glossary</a></font></strong></td>
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<td height="25" valign="top" bgcolor="#D6DFE9"><strong><font size="2" face="Arial, Helvetica, sans-serif"> � <a href="http://ext.wsu.edu/forestry/economagic/tools/index.htm">Tools</a></font></strong></td>
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<td height="25"><strong><font size="2" face="Arial, Helvetica, sans-serif"> �
<a href="http://ext.wsu.edu/forestry/economagic/contacts/index.htm">Contacts</a></font></strong></td>
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<td width="142"><img src="./Economagic Homepage_files/magician_hat.gif" width="189" height="192"></td>
<td width="483"><h1 align="center">Economagic:</h1>
<h2 align="center">A Learning Module for Demystifying <br>
Forest Economics</h2></td>
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Welcome to Economagic! This web-based learning module is designed to guide
forest landowners through some of the basic concepts of forestry economics
and finance. These concepts are often not well-understood and may appear
to be the workings of �Econo-Magicians.� Despite its tongue-in-cheek
name, the intent of this learning module is to reveal that there really
isn�t any magic involved at all�just the careful application
of a few key principles. Furthermore, you don�t have to be a math
or an economics wizard to practically apply these concepts to your forest,
both in everyday management decisions and long-term planning.
<h3><br>
<strong>Why learn about forest economics?</strong></h3>
<p>Your forest is one of your most valuable assets. Regardless of your ownership
objectives, you will regularly be faced with decisions that have significant
economic implications, such as what species to grow, how much to spend
on stand improvement activities (vegetation control, fertilization, thinning,
etc.), whether or not to purchase new equipment, and when to harvest.
The concepts and tools presented in this web module will help you to make
more informed management decisions and to plan for the long-term financial
health of your forest. These concepts and tools also have broader applications
for your personal finances (borrowing and investing).</p>
<h3><br>
What�s inside?</h3>
<p>This learning module includes six <a href="http://ext.wsu.edu/forestry/economagic/lessons/">lessons</a> covering
the basic concepts of forestry economics and finance. Each lesson is presented
as an interactive video and slide show that lasts approximately 25 minutes.
Lessons include notes that you can print out, short quizzes to test your
knowledge, exercises to practice concepts, and activities to help you
apply concepts to your own circumstances.</p>
<p>Not a math whiz? Not a problem! While the lessons do include some formulas
for those who are interested in �getting under the hood� to
see how the mathematics work out, these formulas are only for reference
as the focus of this learning module is on understanding concepts not
on crunching numbers. For the number crunching we�ve included the
online <a href="http://ext.wsu.edu/forestry/economagic/tools/calculator/">Economagic Calculator</a>�it�s
easy to use and will do all the math for you! We�ve also included
links to other freely-available <a href="http://ext.wsu.edu/forestry/economagic/tools/">tools and references</a>
if you want to explore concepts in more depth, and a complete <a href="http://ext.wsu.edu/forestry/economagic/glossary/">glossary</a>
of terms used in the lessons.</p>
<p>As you work through this learning module, you may want to visit other
available modules to develop a broader understanding of important related
topics such as <a href="http://www.forestandrange.org/modules/story/index.asp" target="_blank">management
objectives and decision-making</a> and <a href="http://www.forestandrange.org/modules/planning/index.htm" target="_blank">management
planning for multiple resources</a>.</p>
<p align="right"><a href="http://ext.wsu.edu/forestry/economagic/#top"><img src="./Economagic Homepage_files/top.gif" width="71" height="13" border="0"></a></p>
<h3>How to use this learning module</h3>
<p>The six <a href="http://ext.wsu.edu/forestry/economagic/lessons/">lessons</a> in this learning module follow
a sequence, with each lesson building on the concepts of the previous
lesson. Because of this, we don�t recommend beginning a lesson without
first completing the preceding ones. However, you may not need to complete
all six lessons. The lessons are divided into three levels: beginner,
intermediate, and advanced. Use the description of these levels on the
<a href="http://ext.wsu.edu/forestry/economagic/lessons/">lessons</a> menu to choose the lessons that are right
for you.</p>
<p>When completing a lesson, we suggest the following steps:<br>
</p>
<ol>
<li>Print out the lesson notes, which will help you follow along during
the lesson video.<br>
<br>
</li>
<li>Watch the lesson video. The videos range in length from 11 �
24 minutes. The interactive controls allow the videos to be stopped
and started at any point, so you can learn at whatever pace you desire.
You can watch part of a video now, and then come back another day to
pick up where you left off. As you watch you can pause, skip ahead,
or go back. The slide show with each video also includes live links,
and we encourage you to pause the video frequently and use these links
to look up terms in the <a href="http://ext.wsu.edu/forestry/economagic/glossary/">glossary</a> and to follow
along with the examples using the <a href="http://ext.wsu.edu/forestry/economagic/tools/calculator/">Economagic
Calculator</a>.<br>
<br>
</li>
<li>After each lesson, take the short quiz to test your knowledge of the
key concepts presented. Review the lesson notes and video as needed.<br>
<br>
</li>
<li>Work through the lesson exercises to practice concepts. When you have
completed the exercises, review the exercise solutions to check your
understanding.<br>
<br>
</li>
<li>Complete the activity, which will be a customized exercise allowing
you to apply the concepts from the lessons to your personal situation
(your tree farm or your personal finances). You may want to <a href="http://ext.wsu.edu/forestry/economagic/contacts/">contact</a>
your local extension forester or a consulting forester for assistance
with this.<br>
</li>
</ol>
<p><strong><a href="http://ext.wsu.edu/forestry/economagic/lessons/">Ready to start? Proceed to the Lessons.</a></strong></p>
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<a href="http://ext.wsu.edu/forestry/economagic/#top"><img src="./Economagic Homepage_files/top.gif" width="71" height="13" border="0"></a></p>
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