Public policy and project valuation
Term: Autumn
Credit: 2-0-0
Instructor: Noboru Hidano
Purpose:
I intend to offer you the essence of cost benefit analysis and valuation methods for public policy and projects including revealed preference techniques for non-market goods, ordinal estimations for market goods and stated preference methods, such as contingent valuation, in environmental and ecological economics.
Schedule:
Introduction
Cost benefit analysis
Expenditure functions and several measures
Benefit estimation methods
Contingent valuation methods and incentive compatibility
Problems of travel cost approach
Hedonic analysis and capitalization theorem
Hedonic econometric estimations
Several examples
Text:
Hidano, N (2002) The Economic Valuation of the Environment and Public Policy: A Hedonic Approach, Edward Elgar
Note: it is important for students who take this lecture to have basic knowledge about undergraduate micro-economics.
Office: W9-628
Office hours: about 30 minutes after each lecture