This course is intended to provide an introduction to economic theory and approach as applied to water management. It is for professionals in water-related fields with no prior economic background.

The course will first layout the policy context for water economics, i.e., why is economics relevant and important for water management, through cases and examples in which economics can play or have played a role. The course will then introduce economic principles, concepts, and theory to build an economic foundation for understanding water issues. Based on the economic foundation, the course will further elaborate on and synthesize economic approaches to managing water, including quantity and price based policy instruments, institutional role, and benefit-cost analysis.

The course will also cover economic valuation of water uses and decision-making context. As part of the course, a roleplaying game will be conducted with course participants to help understanding of water resource management in the real world. Group work, presentation, and individual assignment will be part of learning process to improve understanding.