ECONOMICS AND ENVIRONMENTAL VALUATION

The objectives of the Economics and environmental estimate are the personal and professional education of the student of Architecture basing on the awareness of theoretical issues, methodological structures and application tools that preside over aspects of value and valuation of real estate properties, plans and projects that have as their main reference the territory, the city, the architecture and the landscape and involving the main distributive economic variables. The course provides the essential coordinates of value theory, starting with a historical, analytical and critical approach to the achievements of both the mainstream and critical schools of economics. These are related to the evaluation method and procedures of private and public assets and projects as to qualitative-monetary, qualitative-physical and aesthetic-qualitative variables, with reference to mono and multicriteria analysis tools. Particular attention is generally devoted to the issue of capital goods according to the relationship between social system and environment; this relationship, in fact, is strongly affected by the transformation processes according to the prevailing values as the related valuation results in terms of financial feasibility, economic convenience, social equity and eco-systemic sustainability.

The course takes place in 80 hours of lectures including exercises and examples of the methodological and applicative tools that pertain to the theoretical aspects covered. The topics addressed relate to four areas of integrated and converging knowledge: on the basis of a set of basic notions intended to create the lexicon useful to understand the fundamentals and master the main economic categories, the first module focuses on the essential elements of history, analysis and criticism of the economic theories essentially aimed at the theory of value; the second is devoted to the operational appraisal and its references to the more general aspects of the evaluation science; the third addresses the theory of capital and the practice of private and public investment valuations; the fourth is dedicated to the valuations of goods and processes whose complexity requires the convergence and integration of monetary and extra-monetary measures. An exercise allows students to acquire the evaluative sensitivity necessary to connect the concrete qualitative evaluations an abstract quantitative (monetary) measures. The exercise is aimed at qualitative and quantitative-monetary evaluations of assets located in consolidated urban fabrics. Students can choose between real estate estimate and analysis of parts of the building fabric in a specified context. An ongoing test will allow students to establish an understanding of the topics covered in class, as well as the teacher to verify the adequacy of teaching with respect to the level of students' basic knowledge, and the evolution of these knowledge in the prospect of understanding the economic nature of the architectural-urban and territorial-environmental phenomenon, through the approach to value and evaluations.

The course is divided into four integrated modules addressed in parallel:
History analysis and criticism of economic theories with reference to the issues of the theory of wealth and value;
Mono and multi-dimensional evaluation method and procedures in real estate, urban, territorial and environmental fields;
Capital Theory and Economic and Financial Assessment of Investments with Actuarial Mathematics Elements
Practice exercise concerning real-estate appraisal and urban-architectural project management valuations

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