Book excerpt: Perfect for the first course in Forest Economics, this text emphasizes economics as a way of thinking in which added costs and benefits of action are compared in order to maximize net benefits. Geared for those students with an economic background (microeconomics preferred), Klemperer has focused on solving basic economic problems forestry analysts encounter, as well as discussing enough economic theory to understand the solutions. Because of that, the basics in capital theory are interwoven and students learn how to evaluate forestry investments in a way which embraces important environmental factors.