The course deals with the evaluation methodologies of urban transformations and policies. The point of view will be that of the social planner (collective benefits  of  large public projects of urban transformation. It tries to give an answer to questions like: which is the logic governing the structure and evolution of land values in the city? Which techniques may help assessing the social value of big projects of urban transformation?

The main goal is to introduce the student to the different existing logics and approaches, applied to a variety of empirical case studies. The theme of the nature and evolution of land rent in theoretical terms will have a central role.

The course is divided in two parts:

Part 1: economic theory

This part introduces the students to the main concepts in economic theory:

-          consumer and producer theory;

-          general equilibrium, the two welfare theorems;

-          market failures: why the public intervention in the economy is required?

-          land rent theory

Part 2: assessment methodologies

In this part, different methodologies for the economic assessment of big transformation projects will be presented; first of all in terms of social costs and benefits (public assessment):

-           Cost Benefit analysis and its economic foundation

-           Cost Benefit analysis: valuing outcomes and inputs

-           Cost Benefit analysis: valuing impacts over time

-           Cost Benefit analysis: valuation of non-market goods

-           Multicriteria analysis: an introduction

The  methodologies for the assessment of public policies are discussed through the analysis of case studies and real projects.

The evaluation of students will take place through two written tests, mid-term and final.

English versions of the Italian titles will be indicated and distributed during the course.

Lecture notes posted on the class website.