MA Economics / Course details
Year of entry: 2020
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Course unit details:
|Unit level||FHEQ level 7 – master's degree or fourth year of an integrated master's degree|
|Teaching period(s)||Semester 2|
|Available as a free choice unit?||Yes|
By the end of the course students will be able to
(1) demonstrate the concept and empirics of non-market valuation techniques,
(2) apply these techniques in STATA,
(3) use these techniques to form your own research agenda.
Lecture 1: Valuing Health Risks; Value of Statistical Life
Lecture 2: Air Pollution, Epidemiology and Applying Valuation to Policy Making
Lecture 3-5: Property Values and Sorting Models; Hedonics
Lecture 6: Stated Preferences & The Contingent Valuation Method
Lecture 7-8: Discrete Choice Experiments
Teaching and learning methods
Lectures and tutorials
|Written assignment (inc essay)||50%|
2 pieces of assessed coursework weighted at 50% each.
Hedonic Project - 50%
Choice Experiment Project - 50%
A. Myrick Freeman III, Joseph A. Herriges and Catherine L. Kling, 2014. The Measurement of Environmental and Resource Values, RFF Press and Taylor & Francis (3rd Edition). [Denoted FHK]
This book is available as an ebook via Rylands Library.
Daniel J. Phaneuf and Till Requate. 2017. A Course in Environmental Economics, Cambridge University Press. [Denoted PR]
(*) denotes required readings. Students are expected to read them thoroughly.
Students are expected to understand a working knowledge of intermediate level of applied econometrics [Instrumental Variables, Panel Data Methods and Multinomial Models.]. Slides will be provided to students to refresh their memory. Below are three recommendations if students prefer to read relevant books:
Angrist, Joshua D. and Jörn-Steffen Pischke. (2009) Most Harmless Econometrics: An Empiricist’s Companion, Princeton University Press: Ch.1-5. [Does not contain materials on Multinomial Models.]
Verbeek, Marno. (2012) A Guide to Modern Econometrics (4th edition, or any other edition), John Wiley & Sons: Ch.5-7,10.
Wooldridge, Jeffrey M. (2013) Introductory Econometrics: A Modern Approach (Europe, Middle East & Africa Edition, or any other edition), Cengage Learning: Ch.13-17.
|Scheduled activity hours|
|Independent study hours|
|Daniel Rigby||Unit coordinator|
|Hei Sing Chan||Unit coordinator|
Pre-Requisite: Intermediate Microeconomics and Econometrics
Lecture: Monday 10am-12pm,
Tutorial: Thursday 2pm - 4pm.