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