Economic evaluation of environment

The course deals with the economic valuation of natural goods and environmental damage. It introduces the theoretical concept and points of departure of environmental valuation. It makes a detailed presentation of valuation methods, exploited currently in environmental economics to determine the values of natural goods or to quantify the monetary value of environmental damage caused by economic activity. In connection, it discusses the theoretical and practical the pluses and minuses of the various techniques, including their time, financial and data requirements. Furthermore, the practical applicability of the determined values and their usefulness for economic analysis of administrative and economic environmental policy instruments or for the assessment of private or public projects are presented.