How should decision-makers (e.g., governments or financial investors) decide between potential projects and policies? Answering this poses many challenges, not least for many environmental projects and policies. Such projects and policies may have effects on goods and services that are not traded in the market, adverse distributional effects, and inherent risks and uncertainties. Parallel to this are the challenges of financing sustainable growth.
This course introduces students to the general method and use of cost-benefit analysis. There will be particular emphasis on applications to resource and environmental economics. The course therefore deals with many crucial aspects of environmental cost-benefit analysis.
The goal is to equip students with the necessary background to assess the validity of practical environmental cost-benefit analyses, as well as to formulate how current guidelines can be improved based on the latest economic research.
The course will consist of a lecture block that provides an overview and introduces students to key concepts.