KNOWLEDGE AND UNDERSTANDING: Students will learn about the relationships and interlinkages between ecosystem services and human wellbeing, the main valuation methodologies and applications to the management of ecosystem services. APPLYING KNOWLEDGE AND UNDERSTANDING: By the end of the course, students will be able to understand the meanings and results of different valuation methods and their application to specific ecosystems to support definition of conservation, management and valorization strategies MAKING JUDGEMENTS: By the end of the course, students will be able to evaluate scope, advantages and disadvantages of the main ecosystem service valuation methods and their practical use. COMMUNICATION SKILLS: By the end of the course, students will be able to elaborate fact-based opinions and use theoretical and factual knowledge to critically discuss complex topics. LEARNING SKILLS: By the end of the course, students will have developed critical thinking abilities which are essential to autonomously select, understand and analyze a variety of data and information sources related to ecosystem services and their application to real-life contexts.

No specific prerequisites are required. Basic principles of microeconomics will be introduced when necessary to clarify specific topics.

1. Theoretical background: biodiversity, ecosystem services, human wellbeing and the economy. 2. Valuation of ecosystem services: indicators, theoretical paradigms, methodologies. 3. Ecosystem service management and policy

Suggested handbook: Kumar, P. (2012). The economics of ecosystems and biodiversity: ecological and economic foundations. Routledge (selected chapters). Study materials (lecture slides, scientific papers, reports, case study materials) will be shared on Moodle 2 or MS Teams.

1. Theoretical background: biodiversity, ecosystem services, human wellbeing and the economy. 1.1 The value of biodiversity. 1.2 The concept of ecosystem services. 1.3 Links between biodiversity, ecosystem functions and ecosystem services. 1.4 Management of multiple ecosystem services. 1.5 Biodiversity, ecosystem services and human wellbeing. 2. Valuation of ecosystem services: indicators, theoretical paradigms, methodologies. 2.1 The rationale behind ecosystem service valuation. 2.2 Indicators: characteristics, existing indicators, development of relevant indicators. 2.3 Valuation paradigms. 2.4 Application of valuation methods to ecosystem services. 3. Ecosystem service management and policy. 3.1 Incentivizing production of ecosystem services. 3.2 Governance and management dynamics. 3.3 Policies for ecosystem services. 3.4 Ecosystem services and market dynamics. 3.5 Payments for ecosystem services

Lectures, case study discussions, individual work and eventuality cooperative learning work.

Course contents and exam requirements are the same for both attending students and non-attenders.

Student learning will be assessed trough an exam consisting of two parts: 1. Presentation and discussion of an original written report on a specific case study, related to the course topics. The evaluation will take into account clarity of exposition, originality, coherence with writing guidelines (which will be presented during the course). Evident and uncritical use of AI for text generation will lead to the report being disqualified from evaluation. 2. Written exam including closed and open-ended questions on the topics covered in class. Students who attend at least two-thirds of the course will be guided in the development of their report through in-class activities and individual homework assignments. The grading system ranges from 18/30 to 30/30. The final mark will be the weighted average (40% report; 60% written exam) of the two parts. In order to pass the exam, students must get the minimum grade (18/30) in each of the two parts. To earn the highest mark (30/30 cum laude), students must demonstrate not only extensive and complete knowledge of the topics covered in class, but also distinguished ability to critically apply theoretical knowledge to the analysis of real-world scenarios. Students are required to observe ethically correct conduct during all learning assessment activities. Any form of plagiarism, copying, or misconduct will be dealt with according to the University's Code of Ethics and Conduct.

This course focuses on some topics closely related to one or more objectives of the 2030 Agenda for Sustainable Development of the United Nations SDGs: 11 - Sustainable cities and communities 12 - Responsible consumption and production 14 - Life below water 15 - Life on land 17 - Partnership for the Goals