This course introduces Masters students to concepts within environmental economics which are useful for analysing and designing conservation policies globally. No prior understanding of economics is necessary. Economics has a number of important insights which it can offer to the design and analysis of conservation policy. For example, how to identify the most cost-effective ways to achieve biodiversity targets; how to measure the willingness of people to fund conservation actions; and how to design payment for ecosystem service policies which effectively deliver environmental benefits. This new course introduces students to these insights, and to a range of other economic tools which can be used to undertake policy analysis and policy design. We will also make students aware of the considerable empirical literature now available which illustrates the application of these tools in a range of contexts globally.

20 hours of contact time. Additional self-study hours will take place during the 2 weeks of the course.

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A. Students will write one essay of 2000 words maximum length (including references) on one of 3 questions, based on references provided in this handout and their own in-depth search of the literature (70% of assessment).

Students will also produce two "policy briefing reports", written on the basis of group discussions during the interactive sessions, and their own individual work.

These reports will be written in non-technical language and be of no more than 500 words in length, supported by at least one Figure.

Policy report 1 must be submitted, and will be read by the course team: general comments will be provided to all students. HOWEVER, NO GRADE WILL BE GIVEN, AND IT WILL NOT COUNT TOWARDS YOUR MARK. The purpose of this exercise is a practice for writing policy report 2. Policy report 2 will count for 30% of the mark on the course.

To introduce students to the tools which economics can offer to help in the design and analysis of nature conservation policy. Specifically, the course aims to:

■ Help students to understand the concepts of opportunity cost, economic values and incentive design

■ Bring students up to date with the most recent innovations in applying economics to the analysis of conservation problems

■ Explain how cost-benefit analysis offers a valuable tool for presenting the case for conservation, and for targeting conservation actions

■ Explain how economic analysis can be used to evaluate the effectiveness of conservation management interventions, such as the creation of protected areas

■ Think about the economic issues involved in wildlife crime.

By the end of this course students will be able to:

■ Critically discuss and evaluate concepts such as cost-effectiveness, cost-benefit analysis and payment for ecosystem service schemes, with reference to the evidence base and to economic theory;

■ Critically compare and contrast alternative design options for nature conservation policies on private land;

■ Critically discuss ideas of economic efficiency, benefits and costs as tools for analysing conservation problems in a wide range of global settings;

■ Conduct economic analysis of specific examples of conservation policy

■ Understand how economic methods can be used to measure peoples' preferences and values for nature conservation;

■ Show how the impacts of conservation programmes can be identified;

■ Explain the results of such analysis to non-specialists, the policy community and other relevant stakeholders.

Students must submit at least 75% by weight of the components (including examinations) of the course's summative assessment.