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
After the successful completion of the course, students will:
- Understand the most important concepts of microeconomic theory behind CBA, including compensating variation, equivalent variation, Potential Pareto Improvements, Consumer surplus, Producer surplus and Government surplus.
- Understand how to value the impacts and the value of outcomes of projects affecting market prices. Please note that Environmental valuation methods, used to value quantity changes of non-market goods, such a contingent valuation, travel cost method, etc. are taught in the Environmental Valuation course by Anna-Kaisa Kosenius. The students should learn the basic principles of benefit-transfer.
- Estimate the demand function from cross-sectional data and use it to calculate changes in consumer surplus.
- Be able to distinguish between impacts in the primary markets and the secondary markets and understand when the impacts in the secondary markets should be included in the CBA.
- Learn the basics of how to include health effects into CBA.
- 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, and calculate the net present value of a project.
- Understand how uncertainty is incorporated into cost-benefit analysis in both theory and practice and perform expected value analysis and Monte-Carlo sensitivity analysis.
- Understand how distributional issues can be incorporated into cost-benefit analysis and perform a simple distributionally weighted cost-benefit analysis.
- Understand, illustrate and critically appraise the philosophical and ethical underpinnings of CBA.
- Critically assess CBA-studies and distinguish a well-conducted CBA from a poor one.
YET-203 Mikroteorian jatkokurssi: Yrityksen teoria (Intermediate microeconomics: Theory of the firm) or ECOK-211 TA3B Mikrotaloustiede or equivalent course AND YET-204 Mikroteorian jatkokurssi: Kuluttajan teoria (Intermediate microeconomics: Consumer theory) or ECOK-210 TA3a Mikrotaloustiede I or equivalent course. Students who have only taken an introductory level microeconomics course such as YET-002 Microeconomics principles or have particularly relevant experience can still enroll in the course. However, they should be prepared to spend extra time in independent study learning the underlying microeconomic principles and tools at the beginning of the course.