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In the social science discipline, the subject of Peace and Conflict has been pursued on different paths. The first approach is the ethical aspect involving religion, culture, nonviolence, etc. Next is the established area of Peace Studies which focuses more on case studies, and is usually qualitative. The area of conflict management in industrial relations involving negotiations, arbitrations, etc., is also case oriented but is becoming more quantitative. Peace Economics and Peace Science use tools, methods, and quantitative framework of various Social Sciences, Natural Sciences, Law, and Engineering. Unlike Peace Economics, Peace Science is much more theoretical and related to Political Science and International Relations. At this time, Peace Science is far from becoming an interdisciplinary field as its founder, the late Walter Isard, wanted it to become. The frontiers of Peace Science is moving farther due to such factors as globalization, global economic downturn, terrorism, environmental factors, international and intranational conflicts, wars, etc. Papers included in this volume indicate the direction in which Peace Science is moving.

Most fresh and good quality water resources, feasible for development and distribution, are already being used. Conflicts over water resources between bordering countries, states, counties, or sectors are a common occurrence.

Wars have important economic dimensions. They involve costs requiring resources that have alternative uses such as new hospitals, schools, and roads. Economists can contribute to the understanding of wars by identifying their costs. Case studies make a valuable contribution by providing estimates of the costs of conflict. Much has been written about the costs to the USA of the conflicts in Afghanistan and Iraq. Similar studies for the UK have been lacking. This chapter provides UK estimates of the costs of both conflicts.