ELD CAMPUS
Module: Environmental economics and ecosystem services valuation - the rationale behind
Learning objectives:
- Understand the Gross Domestic Product as the prime development indicator and the invisibility natural, social and human capital within national accounting systems
- Be able to distinguish between natural capital stocks and flows and ecosystem services
- Understand the role of natural capital for production and well-being
- Be able to understand and possibly discuss trade-offs between the use of different ecosystem services
- Understand the terms market failures and externalities, especially related to terrestrial land uses
- Be aware of studies on the economic losses due to land degradation
- Know economic assessment methods related to natural capital, e.g. natural capital accounting and cost-benefit analysis
- Understand the viewpoints of different stakeholder groups on natural capital and have some basic knowledge on options for integrating ecosystems services into policies and planning
Contents:
- Value, wealth and wellbeing - What is the role of nature in economies?
- Terrestrial national capital- environmental goods and services from land
- Hidden benefits or costs (externalities) of land use
- Typical (economic) assessments related to land use
- Natural capital accounting and assessment
- Cost-benefit analysis
- The perspective of different stakeholders on natural capital
- Options for integration of ecosystem services into policies and planning
Estimated duration of the lecture:
30 minutes
Estimated time for further studies:
1-4 hours, depending on the level of previous knowledge and interests

RESOURCES
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Lecture: Environmental economics and ecosystem services valuation - the rationale behind