GY455 Half Unit
Economic Appraisal and Valuation
This information is for the 2025/26 session.
Course Convenor
Prof Giles Atkinson
Availability
This course is available on the MSc in City Design and Social Science, MSc in Environment and Development, MSc in Environmental Economics and Climate Change, MSc in Environmental Policy and Regulation, MSc in Environmental Policy, Technology and Health (Environment and Development) (LSE and Peking University), MSc in Environmental Policy, Technology and Health (Environmental Economics and Climate Change) (LSE and Peking University), MSc in Environmental Policy, Technology and Health (Environmental Policy and Regulation) (LSE and Peking University), MSc in Geographic Data Science, MSc in Local Economic Development, MSc in Regional And Urban Planning Studies, MSc in Urban Policy (LSE and Sciences Po) and MSc in Urbanisation and Development. This course is available with permission as an outside option to students on other programmes where regulations permit. This course uses controlled access as part of the course selection process.
How to apply: Priority: Geography & Environment, then other students. Priority is typically for students enrolled in Geography and Environment programmes, or joint degree programmes, however course specific availability is indicated via the 'Availability section' on the LSE course guide webpages. Guidance on how to apply to individual controlled access courses can also be found on LSE for You in the Graduate Course Selection system.
Please note: The number of students that can be accommodated is limited. If a course is over-subscribed, places will be allocated at the Department's discretion and a waiting list may be created. It is advised to have an alternative course in mind as a back-up in case you are unable to secure your first-choice course selection.
Deadline for application: Further guidance and information on course selection for Geography and Environment courses (GY4xx) will be available on the Geography and Environment Course Selection Moodle page which will go live from Monday 8 September and will be updated with course availability information daily throughout the course selection period. This page includes information on the timeline for course selection decisions in the Geography and Environment Department as well as the individual course application processes and requirements
A list of all taught master's courses in this Department are listed on LSE's course guide webpages.
For queries contact: geog.env@lse.ac.uk
The number of students that can be accommodated is limited. If the course is over-subscribed, places will be allocated at the Department’s discretion and a waiting list may be created. For further details, please contact your relevant Programme Coordinator
Course content
This course is concerned with the foundations and practical use of applied economics in the context of project appraisal and policy evaluation. Course content will be drawn from the following. Introduction to economic aspects of project appraisal and cost-benefit analysis. Efficiency, equity and distributional concerns. Measurement of costs and benefits with a specific emphasis on practical methods to value non-market goods and services. The use of appraisal and evaluation in policy processes. The application of project appraisal and policy evaluation methods to policy sectors such as transport, health and the environment. Seminars and lectures will focus on applied case studies and the practical tools involved in the appraisal of projects and policies. Examples particularly from environmental, health, development and transport policy across a range of countries.
Teaching
8 hours of seminars and 12 hours of lectures in the Winter Term.
This course has a reading week in Week 6 of Winter Term.
In the Department of Geography and Environment, teaching will be delivered through a combination of classes/seminars, pre-recorded lectures, live online lectures and other supplementary interactive live activities.
Indicative reading
Detailed reading lists will be provided to support each course component. Emphasis will be placed on texts, case study material and state-of-the-art contributions to, for example, the literature on non-market valuation. For an overview and introduction to the main issues covered by the course, students may wish to consult the following: G Atkinson and S Mourato, "Cost-Benefit Analysis and the Environment", OECD Environment Working Paper No. 97; G Atkinson et al. (2018) Cost-Benefit Analysis and the Environment: Further Developments and Uses, 2018; AE Boardman et al, Cost-Benefit Analysis: Concepts and Practice, 2018 (chapters 1 and 2).
Assessment
Essay (100%, 4000 words)
A 4000 word essay linked to real-life examples of economic appraisal and valuation
Key facts
Department: Geography and Environment
Course Study Period: Winter Term
Unit value: Half unit
FHEQ Level: Level 7
CEFR Level: Null
Total students 2024/25: 117
Average class size 2024/25: 23
Controlled access 2024/25: YesCourse selection videos
Some departments have produced short videos to introduce their courses. Please refer to the course selection videos index page for further information.
Personal development skills
- Self-management
- Team working
- Problem solving
- Application of information skills
- Communication
- Application of numeracy skills
- Specialist skills