[Economics] Environmental Valuation


General information

Course name Environmental Valuation
Course type Seminar
Course code  
Course coordinator  
Faculty Faculty of Business, Economics and Social Sciences
Examination office Examination office of the Faculty of Business, Economics and Social Sciences
Short summary The course provides a rigorous treatment of the theory of monetising the value of environmental externalities, focusing on the neo-classical approach but also discussing its alternatives. The student will learn about the categories of economic value assigned to the natural environment, and the distinction between use and non-use values. We will work through the utility theory on which environmental valuation techniques are based and learn how the individual approaches infer use and/or non-use values.

Information about study level

Study level Master
Also possible for Suitable for advanced Bachelors (second year)

Information about credit points, evaluation and frequency

Evaluation Written exam
Frequency Summer term

Information about teaching language

Teaching language English
Minimum language requirement B1
Further information on the teaching language recommended B2

Information about requirements

Recommended requirements  

Information about course content, reading list and additional information

Course Content
  1. Introduction: The nature of value
  2. Demand and welfare theory
  3. Cost-benefit analysis
  4. Stated preference methods: Contingent valuation
  5. Stated preference methods: Choice modeling
  6. Revealed preference methods: Defensive expenditures
  7. Revealed preference methods: Travel cost approach
  8. Revealed preference methods: Hedonic pricing
  9. Value transfer
  10. Alternative approaches: Ecological footprints, happiness research etc
Reading list Will be made available
Additional information