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This course shows how some of the theories and tools of economics can be applied to understanding and tackling the problem of flood risk in the UK.
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English
English [CC]
FREE
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Description
With the incidence of flooding rising due to climate change, this is an increasingly important policy issue worldwide. You will gain insights into the practical use of economics in a policymaking setting.
This OpenLearn course provides a sample of Level 2 study in Economics.
Course learning outcomes
After studying this course, you should be able to:
- Begin to understand and confidently use some economic concepts and terminology
- Break down the issue of flood risk into some essential elements and apply appropriate economic theory and techniques to its analysis.
Course content
- Introduction 00:07:00
- Learning outcomes 00:05:00
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- Why flooding happens 00:07:00
- What is Flooding? 00:05:00
- Flood risk management 00:10:00
- Flooding in the UK 00:10:00
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- Building on flood plains 00:10:00
- Demand factors: why buy homes in flood plains? 00:03:00
- Competitive markets and market failure 00:15:00
- The functioning of markets 00:15:00
- Individual choices 00:15:00
- The demand-and-supply model 00:15:00
- Market failure and building on flood plains 00:10:00
- Market failure and buying on flood plains 00:10:00
- The UK approach to the problem of flooding 00:10:00
- Problems with affordable flood insurance 00:15:00
- A surprising solution 00:15:00
- Weighing up the options 00:15:00
- Taking fairness into account 00:15:00
- Measuring the equity benefit 00:15:00
- The government’s policy decision 00:10:00
- Conclusion 00:15:00
Instructor
Open University UK
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