This resource economics study forms part of the Zambezi Basin Wetlands Resource Conservation and Utilisation Project (ZBWCRUP) which was initiated by the IUCN. This report covers Phases I and II of the resource economics study, which is being conducted in two phases. The main aims of the study were: to assess and contribute to resource economics capacity, especially pertaining to wetlands valuation, in the region; to review wetlands valuation methodology; to assess the economic value of wetlands goods and services in four Zambezi Basin wetland areas, the existing disincentives for their sustainable use, and to provide recommendations for their future management; to assess the influence of existing policies on wetland resource conservation and use; and to provide an economic assesssment of current ZBWCRUP initiatives in the project areas.