|4 credits. The modern economy consumes many ecosystem services without paying for their production: forested areas protect water resources; plants sequester carbon; intact ecosystems protect biodiversity and its associated services (potential pharmaceuticals, existence value, etc.). In response, a growing number of experiments are under way to have consumers of ecosystem services pay the producers of the services, thus creating market incentives to sustain intact, biologically diverse areas. However, these experiments are in their infancy and raise a host of ethical, scientific, commercial, and policy questions. The purposes of this seminar are (1) to understand these opportunities and their limits by examining current scientific, commercial, and policy knowledge relevant to capturing payments for ecosystem services; and (2) to apply the lessons learned to actual properties or questions by analyzing the scientific, business, and policy aspects of these issues. Limited enrollment. Offered every other year.