ESS211 ERE Chapter 5A
Channel: Richard Knight
Date: 2020-05-17

The fifth chapter discusses the theory and application of economic valuation of natural resources and environmental impacts.   The key questions that will be addressed over the next few days are: What is economic value? Why is it important to know the value of environmental resources and impacts? Types of economic values Valuation techniques Applications of valuation techniques  The key concepts discussed are Total economic value Welfare Willingness to pay, Willingness to accept.