The implementation of the Water Framework Directive in the EU countries will change the management of water quality and quantity in Europe as water body specific quality standards will replace the former chemical standards with the aim to obtaining good ecological status for all water bodies in 2015.

The course aim at introducing the students to basic environmental economic theory and applied methods related to water resources management, and especially how costs and benefits can be estimated and linked to ecological assessments of water and water related qualities. Different cost and benefit categories will be explained and assessment methods will be described regarding both benefits and costs. A range of examples will be provided throughout the course with reference to both cost assessments and benefit valuation. Students will hereby obtain experience with environmental economic quantitative analysis such as cost-effectiveness and cost-benefit analysis related to the implementation of the EU Water Framework Directive.

The course will provide the students with a scientific basis for interpreting results from economic policy studies as well as identifying the potentials for including environmental economic issues in their own work. The items addressed in the course are: Economic theory of resource management; Economic policy analysis; Valuation of marketed and non-marketed goods; and Benefit Transfer.