Natural Capital Accounting
| Module title | Natural Capital Accounting |
|---|---|
| Module code | BEP3170 |
| Academic year | 2021/2 |
| Credits | 15 |
| Module staff |
| Duration: Term | 1 | 2 | 3 |
|---|---|---|---|
| Duration: Weeks | 11 |
| Number students taking module (anticipated) | 20 |
|---|
Module description
This module offers a comprehensive overview of different accounting approaches designed to account for the loss of natural and social capital. You will learn to recognise the potential and limitations of different methods, with a focus on ecosystem services valuation and ecological footprint accounting, and to apply them in practice. Through practical exercises, you will familiarise yourselves with the economic valuation of environmental resources and accounting techniques to measure the impact of human activity on the biocapacity of the Earth. Through case studies, you will discuss worldwide examples including businesses, cities and countries.
Module aims - intentions of the module
This module aims to introduce students to different natural capital accounting techniques in theory and practice. The module covers key environmental valuation methods for natural capital accounting (e.g. including hedonic price method, travel cost method and contingent valuation method) as well as biocapacity methods for ecological footprint accounting. Ecosystem services valuation and ecological footprint calculations are of direct relevance to business decision-making. They will equip students with the accounting and analytical skills to avoid ecological bankruptcy and envision regenerative economies. Analytical exercises and case studies will apply theory to critical issues such as water supply, retention of nutrients by vegetation, crop pollination, etc.
Intended Learning Outcomes (ILOs)
ILO: Module-specific skills
On successfully completing the module you will be able to...
- 1. Examine the potential and limitations of monetary and non-monetary valuation methods
- 2. Compare and contrast different natural capital accounting techniques
ILO: Discipline-specific skills
On successfully completing the module you will be able to...
- 3. Employ environmental valuation skills and techniques
- 4. Recognise the relevance of different natural capital accounting techniques for business decision-making
ILO: Personal and key skills
On successfully completing the module you will be able to...
- 5. Improve independent study skills
- 6. Apply analytical tools for ecosystem service valuation to a range of real-life scenarios
Syllabus plan
Topics discussed on the module include (not exclusively):
- Natural capital accounting: a methods overview
- Ecosystem services valuation methods (e.g. hedonic price method, travel cost method and contingent valuation method)
- Case studies applications
- Biocapacity accounting methods: ecological footprint
- Data and key findings for countries
- Strategies for creating regenerative economies
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 22 | 128 | 0 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Scheduled Learning and Teaching Activity | 11 | Lectures (11 x 1 hour) |
| Scheduled Learning and Teaching Activity | 11 | Seminars (11 x 1 hour) |
| Guided Independent Study | 128 | Reading, research and assessment preparation |
Formative assessment
| Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|
| Seminars discussion | 1 x hour seminar | 1-6 | Verbal |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 100 | 0 | 0 |
Details of summative assessment
| Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|---|
| Essay ((individual reflective paper on the opportunities and limitations of different accounting techniques) | 40 | 1500 words | 1,2,5 | Written |
| Report (individual paper on the application of different natural capital accounting techniques to business practice) | 60 | 2000 words | 3,4,6 | Written |
| 0 | ||||
| 0 | ||||
| 0 | ||||
| 0 |
Details of re-assessment (where required by referral or deferral)
| Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
|---|---|---|---|
| Essay (40%) | Essay (40%) | 1,2,5 | August re-assessment period |
| Report (60%) | Report (60%) | 3,4,6 | August re-assessment period |
Indicative learning resources - Basic reading
The following books are a useful resource for this course:
- Hanley, N. and Barbier, E.B. (2009). Pricing Nature; Cost-Benefit Analysis and Environmental Policy. Edward Elgar
- Wackernagel, M. and Beyers, B. (2019). Ecological Footprint Managing our Biocapacity Budget. Global Footprint Network
Indicative learning resources - Other resources
A more comprehensive bibliography will be available to students taking this course.
| Credit value | 15 |
|---|---|
| Module ECTS | 7.5 |
| Module pre-requisites | None |
| Module co-requisites | None |
| NQF level (module) | 6 |
| Available as distance learning? | No |
| Origin date | 05/05/2021 |
| Last revision date | 15/07/2021 |
