| Course ID: | AAEC 8100. 3 hours. |
| Course Title: | Nonmarket Economic Valuation Techniques and Applications |
Course
Description: | Economic analysis of contemporary rural natural resources, environmental policies, and agricultural policies and projects. Application of theory and techniques to local, state, and national problems and issues, particularly those affecting rural areas. |
| Oasis Title: | NONMRKT ECON VAL |
| Prerequisite: | AAEC 6580-6580L |
Semester Course
Offered: | Offered fall semester every year. |
| Grading System: | A-F (Traditional) |
|
| Course Objectives: | The overall objective of this course is to provide students
with training in the economic theory and valuation techniques
needed to analyze policies and projects which affect natural
resource utilization and environmental management. Classroom
sessions will focus on a review of fundamental valuation
concepts, valuation methods, and the practical application of
economic values to natural resource and environmental
decisions. |
| Topical Outline: | I. Resource Policy and Project Analysis: Theoretical Background
A. The Policy Analysis Process
B. Policy Analysis: Foundational Concepts from Applied Welfare
Economics
c. Measures of Individual Welfare Change
D. Aggregate Measures of Welfare Change
II. Resouce Policy and Project Analysis: Values and Decision
Making
A. Understanding the Policy Analysis Context
B. Resource Assessment: General Concepts
C. Resource Decisions Making: BCA Decision Rules
D. Resource Decision Making: Alternative Approaches
III. Resource Policy and Project Analysis: Valuatio Methods
A. Revealed Preference Methods
B. Stated Preference Methods
C. Combination and Other Methods |