Module Handbook

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Course WIW-RE-ECBA-K-7

Environmental Cost-Benefit Analysis (3V, 4.5 LP)

Course Type

SWS Type Course Form CP (Effort) Presence-Time / Self-Study
3 V Lecture 4.5 CP 30 h 90 h
(3V) 4.5 CP 30 h 90 h

Basedata

SWS 3V
CP, Effort 4.5 CP = 120 h
Position of the semester 1 Sem. in SuSe
Level [7] Master (Advanced)
Language [EN] English
Lecturers
Area of study [WIW-RE] Environmental Economics
Livecycle-State [NORM] Active

Contents

Environmental goods and services are often not provided by the market. To guide government interventions, one requires a thorough understanding of costs and benefits of environmental policies. This module provides students with the theoretical foundation of cost-benefit and discusses the practical implementation of cost-benefit analysis. Considerable attention is given to environmental-specific problems such as the valuation of environmental goods and services (revealed and stated preference methods), long-term horizons and discounting, as well as decision-making in the presence of risk and uncertainty.

Competencies / intended learning achievements

After the completion of this module, students will be able to
  • Explain different environmental valuation techniques making use of microeconomic theory and welfare economics
  • Apply techniques from discounting and decision-making under uncertainty to societal decisions on the environment
  • Break down a real-world environmental policy problem into its constituent parts and analyse it by means of cost-benefit analysis
  • Critically discuss the limitations of cost-benefits analysis with respect to psychological and institutional reasons

Literature

Textbooks:
  • Pearce, D.W., Atkinson, G., Mourato, S., 2006. Cost-benefit analysis and the environment: recent developments. OECD, Paris.
  • Boardman, A.E., Greenberg, D.H., Vining, A.R., Weimer, D.L., 2017. Cost-benefit analysis: concepts and practice. Cambridge University Press.

Requirements for attendance (informal)

Basics in microeconomics and environmental economics.

Requirements for attendance (formal)

none

References to Course [WIW-RE-ECBA-K-7]

Module Name Context
[WIW-RE-ECBA-M-7] Environmental Cost-Benefit Analysis P: Obligatory 3V, 4.5 LP