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DRPS : Course Catalogue : School of Geosciences : Postgraduate Courses (School of GeoSciences)

Postgraduate Course: Environmental Valuation (PGGE11223)

Course Outline
SchoolSchool of Geosciences CollegeCollege of Science and Engineering
Credit level (Normal year taken)SCQF Level 11 (Postgraduate) AvailabilityNot available to visiting students
SCQF Credits20 ECTS Credits10
SummaryThe purpose of this course is to provide students with a largely comprehensive introduction to the economic valuation of environmental resources and policies. The course will cover both key elements of economic theory that are needed to understand the methodologies covered, and an introduction to the analysis of data. The methods covered are of direct relevance to policy formulation, ecosystem service valuation, and cost-benefit analysis, though students will be encouraged to pursue reading on the theme of most interest to them.
Course description Wk Date Content Homework
1 23 Sep. Introduction to Course

Note: No reading is required prior to this lecture.

This session will introduce students the course, and how it will be run. It will also introduce students to the concept of economic valuation, and why it is important for them to learn about it. Reading 1: Markets

2 30 Sep. Using Market Prices to Value Environmental Resources

This session will introduce what economic values are and focus on markets, how they function, and on the contexts where market data is useful for valuing environmental resources Reading 2: CBPs

3 7 Oct. Using Cost-Based Proxies to Value Environmental Resources

This session will consider the role that avoided/replacement/damage costs can play in environmental valuation Reading 3a: Intro to R
Reading 3b: TC

4 14 Oct. Introduction to R and Travel Cost Method

This session will briefly introduce students to R and undertaking simple tasks within R, and will culminate with the analysis of a travel cost model Reading 4a : Cont. Beh.
Reading 4b: CVM

5 21 Oct. Travel Cost: Contingent Behaviour and Contingent Valuation I

This session will build on the previous week┐s work by exploring how contingent behaviour data can enrich travel cost analysis. The second part of the session is dedicated to introducing the contingent valuation method Reading 5: Journal papers for formative review

6 28 Oct. Contingent Valuation II

This session continues with the analysis of contingent valuation data followed by a discussion of structure and quality of journal papers in the second part. Reading 6: CEs

7 4 Nov. Choice Experiments 1

This session will focus on the preparation of a choice experiment survey instrument to be delivered by students during the week Data Collection & Entry
Reading 6: CE
Articles for Essay

8 11 Nov. Choice Experiments 2

This session will focus on the analysis of choice experiment data in preparation for the essay Reading 7: BT/MA
Work on Essay

9 18 Nov. Benefits Transfer

Students will learn about the pros and cons of different ways of conducting benefits transfer , conduct examples of simple transfers and be introduced to meta-analysis Reading 8: DVM I
Work on Essay

10 25 Nov. Deliberative Valuation I
This session will introduce and explore the concept of deliberation with respect to valuation Reading 9: DVM 2

11 2 Dec. Deliberative Valuation II (Applications in Developing Countries)

This session will focus on deliberative valuation in contrast to the SP and RP methods covered previously, and its application in a developing country context

**This is the last day you can get approval for the topic of your capstone project** Capstone Project

12 9 Dec. Q&A Session - Capstone Project

There will be an opportunity for students to get final clarification regarding their capstone project and any other issues/questions that have arisen from the course. This substitutes for the exam revision session that other courses will tend to offer. Capstone Project

Entry Requirements (not applicable to Visiting Students)
Pre-requisites Co-requisites
Prohibited Combinations Other requirements None
Additional Costs No
Course Delivery Information
Academic year 2015/16, Not available to visiting students (SS1) Quota:  None
Course Start Semester 1
Timetable Timetable
Learning and Teaching activities (Further Info) Total Hours: 200 ( Lecture Hours 48, Feedback/Feedforward Hours 3, Programme Level Learning and Teaching Hours 4, Directed Learning and Independent Learning Hours 145 )
Assessment (Further Info) Written Exam 0 %, Coursework 100 %, Practical Exam 0 %
Additional Information (Assessment) Summative:
- 3000 word Essay: 40%
- Capstone Project: 60%

- Optional, weekly case study briefs
- The opportunity to receive comments on an outline for the
capstone project
- Quizzes associated with the assigned readings to help students gauge the extent to which they have understood the key material.
Feedback Not entered
No Exam Information
Learning Outcomes
On completion of this course, the student will be able to:
  1. Understand key features of (and the primary elements of economic theory behind) the most common environmental valuation methods used in economic analyses.
  2. Have acquired foundational skills in the analysis of environmental valuation data in R.
  3. Understand how the methods covered in class have been applied to policy areas of individual interest.
  4. Have authored mini - journal articles, demonstrating data analysis and interpretation skills.
  5. Have a solid basis for understanding and judging the quality of environmental valuation methods as applied by others in various contexts.
Reading List
Students will be given specific packets of introductory reading to do before each class. Some of this reading may take the form of tutorial booklets, and some of this reading will take the form of book chapters or journal articles. The use of pre-reading will facilitate the use of class time for looking at data and data analysis

Additionally, and for reference, the following companion text books are relevant for students to consult
Pricing Nature by Hanley and Barbier, available as an e book through the SRUC library
Economic Valuation using Stated Preference Methods: a manual by Bateman et al

A good, slightly more technical introduction into non-market valuation methods:
A Primer on Nonmarket Valuation by PA Champ, KJ Boyle and TC Brown

R will be introduced briefly but this course does not provide systematic learning of R as a tool for statistical analysis. Many introductions to R can be found as pdfs on the web or are available as books. Students may also try free, brief introductory online courses such as . The students will be able to follow the analysis in R through tutorials, and are encouraged to use this as a foundation to familiarising themselves with R

. In addition to the assigned pre-class readings, students will be required to consult peer-reviewed journal articles for their assignment and capstone project. Students are responsible for finding these journal articles and will also be responsible for balancing the reading of these articles with the required pre-class reading. It is recommended that students read about these methods throughout the course.

Additional Information
Graduate Attributes and Skills Students will gain a semester of working in R
for data analysis
- Critiquing the quality of peer-reviewed studies
- Conducting and writing up the analysis of primary quantitative data
- Production of original, written arguments
- Linking primary research to policy questions/decision contexts
Study Abroad No
KeywordsEcological Economics,Ecosystem Services,Environmental Valuation
Course organiserDr Klaus Glenk
Tel: (0131) 535 4176
Course secretaryMrs Elspeth Martin
Tel: 0131 535 4198
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