Environmental Economics 2:

Cost-Benefit Analysis and Environmental Valuation

This course focuses on the changes in social welfare caused by changes in environmental quality and on their measurement in monetary terms. Based on neoclassical welfare theory the different concepts of empirical welfare measurement will be discussed. Then practical assessment techniques will be introduced and illustrated on the basis of case studies taken from the able research of the chair in this field.

Revealed preference methods like the Travel Cost Method, Averting Behaviour, Hedonic Prices etc. as well as stated preference methods like Choice Experiments and the Contingent Valuation Method will be discussed at length.

An accompanying  exercise course offers students the opportunity to get a deeper understanding of the topics dealt with in the lecture course by solving numerical exercises and discussing case studies.