Project Evaluation and Non-market Valuation Methods REM 651 (5)

This course extends environmental and ecological economics concepts to the field of project appraisal and non-market valuation. Includes the methods and limitations of standard cost-benefit analysis (CBA), as well as new techniques in the valuation of non-market environmental resources and ways to incorporate considerations such as the depletion of natural resources in project work. The course concludes with treatment of a number of alternatives to CBA, including multi-attribute techniques and the precautionary principle. Prerequisite: ECON 200, REM 621, or permission of instructor.