28. Estimating losses, costs and benefits
Review each of these terms but avoid debating the concepts.
Indicate that economists are making progress in providing quantifiable methods
of comparing development alternatives. Include a discussion of costs and
benefits indicating that costs are easiest to quantify but that benefits are
like estimating losses. Choose examples from the text, case studies or refer
back to OH 6 for further examples.
· Direct monetary
· Indirect monetary effects
· Direct non-monetary effects
· Indirect non-monetary effects
· Loss of non-renewable natural resources