Studies in Open University in English
- look at climate change from many different perspectives and create connections between them as well as look for solutions to the climate challenge in a variety of ways.
- reflect on his or her own role in climate change and apply what has been learned on the course to his or her field of study.
- examine different perspectives, solutions, information sources and the current debate on climate change critically.
No prerequisites required.
After the course the student
- Can describe and apply key concepts discussed and used in sustainability science
- Understands the historical, methodological and ethical background of the field
- Is able to identify scientific questions in sustainability science
- Is able to identify interdisciplinary research strategies and their challenges to address these questions.
- Is able to use the key concepts to explain sustainability issues to a wider audience
Bachelor degree in relevant fields
To familiarize the student with the basic methods of cost-benefit analysis (hereafter CBA) and their application to the evaluation of projects and policies. By the end of the course students should be able to:
1. Estimate the impacts and value the outcomes of projects using market prices, as well as have a very basic understanding of how outcomes that are not as easily measured in monetary terms are valued
2. Calculate the net present value of a project.
3. Understand the impact of the choice of the discount rate on the net present value of a project, illustrate and critically assess the different theories regarding the choice of the discount rate
4. Understand how uncertainty is incorporated into cost-benefit analysis and perform both partial and Montecarlo sensitivity analysis.
5. Understand how distributional issues can be incorporated into cost-benefit analysis and perform a simple distributionally weighted cost-benefit analysis
6. Understand the difference between cost-effectiveness and cost-benefit analysis and critically appraise the advantages and limitations of these two methods.
7. Understand, illustrate and critically appraise the philosophical and ethical underpinnings of costbenefit analysis.
8. Critically assess cost-benefit analyses and distinguish a well-conducted cost-benefit analysis from a poor one.
A good complement to this course is the course AGERE-003 Valuation.