General description
This course tackles the economic and financial aspects of the management of ecosystems and resources. Finding balance between economic, social and environmental aspects is the key of the best management system. Valuation of ecosystems and resource is a rather modern and evolutive science, it could be presented by lecturer based on experience and case studies and discussions that follow.
It is difficult to understand the concept of monetary valuation without dealing with case studies. The course elaborates as well on the applications of valuation information in assessing damage to environment in the framework of Environmental Impact Assessment studies and on application of trade off concept during the planning of local and national development projects.
The course consists of four chapters:
1- Basic Principles in Economy of Natural ecosystems: This chapter explores the proper role of local and central government in the development of economic regulation related to the conservation and protection of ecosystems and resources.
2- Application of Economy Principles for the Management of Natural Ecosystems: This chapter addresses the tools to estimate the costs and benefits of economic regulations such as direct market valuation, indirect market valuation and survey-based valuation. The chapter make use of case studies and exercises to facilitate the acquisition of knowledge.
3- Monetary valuation of natural ecosystems: This is the core chapter of the syllabus; it tackles methods and tools for the monetary valuation of ecosystems and resources based on services and benefits it provides to the community. The chapter make use of case studies and exercises to facilitate the acquisition of knowledge.
4- Application of Monetary Valuation of Natural Ecosystem: This chapter addresses the practical applications of Monetary valuation of ecosystems and resources with focus on cost benefit analysis, environmental impact assessment and trade- offs.