ECONOMICS AND ENVIRONMENTAL VALUATIONAcademic Year 2020/2021 - 2° Year
Credit Value: 9
Scientific field: ICAR/22 - Real estate appraisal
Taught classes: 60 hours
Exercise: 30 hours
Term / Semester: 1°
The course aims to provide the basic knowledge for the formulation of value judgments and cost effectiveness in the civil, territorial and environmental. It will also provide the elements for the understanding the micro and macroeconomic problems in addition to the environmental economy approach.
This raises the aim to acquire the principles and methodologies of general appraisal, legal and economic evaluation of environmental goods. Will be provided elements of financial mathematics knowledge and evaluation of plans and investment projects, both from the economic and financial aspect that social and environmental.
The teaching methodology of the course includes lectures, laboratory and written exercises.
There will be written tests in itinere and exercises in the computer lab on the economic evaluations of the building and environmental heritage.
As a result of the Covid19 health emergency, if the teaching is given in mixed mode or at a distance, the necessary changes may be introduced with respect to what was previously stated, in order to comply with the program provided and reported in the syllabus.
Detailed Course Content
PRINCIPLES OF ECONOMICS
Historical evolution of economic thought: from the beginning to the net economy.
Origin of Economic and tools of economics.
Demand analysis: the theory of demand based on the utility, the theory of consumer behavior and indifference curves, elasticity of demand.
The theory of production. Relations between the cost curves.
Market structure: key features and short and long-term balance in the following market forms: perfect competition, monopoly, oligopoly and monopolistic competition.
Market efficiency, market failures, externalities, public intervention and environmental policy.
From the micro to the macro-economics. Macroeconomic problems: economic growth, inflation, employment and unemployment, budget, economics cycles, interest rates. The determination of national income in the short term. The model of aggregate demand and supply. Economic policy
Economy and environment. The material balance approach. Environment and ethics. Economic growth, the increase in population and the environment. Sustainable development. The economic control. Renewable resources. Non-renewable resources
Economy, environment and estimation contexts: some preliminary references. Real estate appraisals. Estimation of assets in the public context.
Usufruct, use and habitation. Estimates relating to easements. Eminent domain.
ECONOMIC EVALUATION OF ENVIRONMENTAL GOODS
Italian legislation and estimation procedures of environmental goods. The cost-benefit analysis (ex-ante evaluation). The estimate of environmental damage (ex-post evaluation).
ECONOMIC-FINANCIAL ANALYSIS OF INVESTMENT PROJECTS
Elements of financial mathematics. The classification of investments.
Main methods of choice of investments: Net Present Value (NPV) and the Internal Rate of Return (IRR), a comparative analysis between the method of NPV and the IRR, average period of recovery, other criteria. Principles of cost-benefit analysis and cost-benefit analysis.
ENVIRONMENTAL POLICY AND INDICATORS OF SUSTAINABILITY '
The European Union's environmental policy. The measure of sustainability and evaluation processes. Methods and tools for the integration of the various components of sustainability in decision-making.
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2.TURNER R., R., PEARCE D. W., BATEMAN I. (2003). Economia Ambientale. Il Mulino, Bologna.
3.TEMPESTA T. (2018). Estimo Rurale. Estimo Ambientale. CLEUP, Padova.
4. MICHIELI E., MICHIELI . M. (2002). Estimo. Il SOLE24ORE, Bologna.