Environmental Cost-Benefit Analysis (3V, 4.5 LP)
|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|
|CP, Effort||4.5 CP = 120 h|
|Position of the semester||1 Sem. in SuSe|
|Level|| Master (Advanced)|
|Area of study||[WIW-RE] Environmental Economics|
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
- 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)
References to Course [WIW-RE-ECBA-K-7]
|[WIW-RE-ECBA-M-7]||Environmental Cost-Benefit Analysis||P: Obligatory||3V, 4.5 LP|