290044 Economic Valuation Methods and Cost-Benefit Analysis

Detaljer
Ansvarligt institutFødevareøkonomisk Institut

English TitleEconomic Valuation Methods and Cost-Benefit Analysis
Tidligst mulig placeringKandidat 1.år til Kandidat 2. år
VarighedEn blok
 
Pointværdi7.5 (ECTS)
 
KursustypeKandidatkursus
 
EksamenSluteksamen

skriftlig prøve


Skriftlig auditorieeksamen

Alle hjælpemidler tilladt

Beskrivelse af eksamen: 4-hours written exam in curriculum

Vægtning: Written exam: 100%



7-trinsskala, ekstern censur

Eksamensdatoer:
27. januar 2011
 
Rammer for UndervisningLectures, theoretical and practical exercises (Computer laboratory), group work
 
BlokplaceringBlock 2
Ugestruktur: A
 
UndervisningssprogEngelsk
 
Anbefalede forudsætninger290055 Mikroøkonomi
290059 Public Economics and Policy Analysis
290068 Applied Econometrics
Instead of 290055, 270050 Consumer Economics and Policy can be chosen
 
Obligatoriske forudsætninger290013 Environmental and Natural Resource Economics
Or similar courses
 
Begrænset deltagerantalNone
 
Kursusindhold
The many services provided by the environment contribute to human wellbeing directly as well as indirectly by supporting productive activities. However, the characteristics of environmental benefits imply that they cannot usually be traded in markets. The absence of economic incentives in terms of prices means that political intervention is required to guarantee a socially optimal supply of environmental services. Economic valuation methods and cost-benefit analysis provide tools to assess the benefits and cost of environmental policies and projects. The primary purpose is to support environmental policy making.

The core components of the course are:
- Markets and Pareto optimality
- Preferences and welfare measures
- Goods characteristics and value concepts
- Discounting and risk
- Principles for valuing human life and health
- Production function approaches to economic valuation
- Revealed preference approaches including Travel Cost Methods and Hedonic Value Methods
- Stated preference methods including Contingent Valuation and Choice Modelling
- Benefit transfer
- Cost-benefit analysis
- Standard conversion factor and tax dead-weight loss
- Case studies to illustrate the application of valuation methods and cost-benefit analysis.
 
Undervisningsform
Teaching is in the form of lectures and exercises. Lectures present the essential elements of the curriculum. In the exercises the participants will have the opportunity to apply the methodologies and techniques introduced and to analyse environmental policy problems.
 
Målbeskrivelse
The central themes of the course are the methodologies and techniques applied in economic valuation and cost-benefit analyses and the underlying economic theory. Economic valuation and cost-benefit analysis are being increasingly applied as support for environmental policy decisions. Health policy-making is another important field of application. The skills and competencies acquired in this course are relevant for employment in private companies, public administrations, research, consultancies and non-governmental organisations.
Having successfully completed the course the participant is expected to be able to:

Knowledge:
- Explain the welfare economic principles underlying economic valuation methods and cost-benefit analysis
- Reflect on the validity and limitations of welfare economic theory in political and ethical contexts
- Describe the different economic valuation methods and the analytical approaches to cost-benefit analysis
- Reflect on the relevance and limitations of valuation methods and cost-benefit analysis in relation to various environmental goods and services, human life, etc.

Skills:
- Identify relevant approaches to economic valuation studies and cost-benefit analyses in specific analytical settings
- Carry out valuation exercises and cost-benefit analyses using adequate statistical and quantitative techniques
- Evaluate the validity of the quantitative results obtained in valuation studies and cost-benefit analyses.

Competences:
- Explain the relevance and limitations of economic valuation methods and cost-benefit analysis in different policy settings
- Discuss scientific and political disagreements in relation to economic valuation and cost-benefit analysis.
 
Litteraturhenvisninger
- Bateman, Ian J. et al.: Economic Valuation with Stated Preference Techniques: A Manual, Edward Elgar, 2002.
- Pearce, D., Atkinson, G. and Mourato S.: Cost-benefit analysis and the environment: Recent developments, OECD 2006
- Freeman, A. M.: The Measurement of Environmental and Resource Values, 2nd Edition, Resources for the Future, 2003.
 
Kursusansvarlig
Søren Bøye Olsen, sobo@foi.dk, Fødevareøkonomisk Institut/Faggruppe for Miljø- og Naturressourceøkonomi, Tlf: 353-33643
 
Studienævn
Studienævn NSN
 
Kursusbeskrivelsesomfang
forelæsninger42
teoretiske øvelser28
eksamen4
forberedelse132

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