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  The economic valuation of flood risk


   Birmingham Business School

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Prof D J Maddison Prof Robert Elliott  No more applications being accepted  Funded PhD Project (Students Worldwide)

About the Project

Following events such as the summer 2007 floods in the UK and the publication of the Pitt Review there is great interest in the economics of flood prevention. In the UK insurance premiums are currently used to estimate the benefits of flood prevention schemes but studies in the US have found that the present value of insurance payments is less than the property price discount for living in an area prone to flooding. This PhD proposes to use nonmarket valuation techniques such as the hedonic price technique and choice experiments empirically to determine the economic benefits to households of protection from flood risk.

Applicants are required to have (or must anticipate having) an MSc in Economics and must have studied Environmental Economics and Advanced Quantitative Methods. Knowledge of Geographical Information Systems will be advantageous. Applicants should include a short 2-3 page explanation of how they would value flood risk using nonmarket valuation techniques.

Funding Notes

Funded PhD Programme (Students Worldwide). Applications for this programme are welcome from suitably qualified candidates worldwide. Chinese students applying to the PhD Programme in Economics might be eligible for one of 6 scholarships awarded by the University of Birmingham in conjunction with the China Scholarship Council. The University of Birmingham itself offers a number of DR Elite scholarships to PhD students through its University Graduate School.

For Home/EU: The Department has two ESRC scholarships. These offer full fees and maintenance grants of circa £16,500 per annum.

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Project supervisors

Career overview

Professor David Maddison holds a PhD in Economics from the University of Strathclyde. He is currently a Professor of Economics and serves as the Director of the Birmingham Centre for Environmental and Energy Economics and Management (BCEEEM) at the University of Birmingham. In addition to his academic roles, Professor Maddison is a co-editor of the journal Climate Change Economics. He is actively involved in interdisciplinary research through the Birmingham Plastics Network, which comprises over 40 academics from various fields, including chemistry, environmental science, engineering, and economics, working collaboratively to address the global plastics issue. His research interests encompass applied econometrics, environmental economics, development economics, and agricultural and transport economics. Professor Maddison is also responsible for leading modules on Environmental Economics and contributes to the Global Issues module, supervising postgraduate research in Environmental or Natural Resource Economics.


Research interests

Professor Maddison''s research interests encompass Applied Econometrics, Environmental Economics, Development Economics, Agricultural and Transport Economics. He is the Director of the Birmingham Centre for Environmental and Energy Economics and Management (BCEEEM) and is involved in the Birmingham Plastics Network, an interdisciplinary team addressing the global plastics problem. His work includes contributions to assessing the economic impacts of environmental issues and the valuation of natural resources.

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Career overview

Professor Robert Elliott is an applied economist at the University of Birmingham''s Business School, where he serves as the Director of Research in the Department of Economics. He obtained a BA and MA in Economics from the Universities of Leicester and Essex, respectively, and completed his PhD at the University of Nottingham under the supervision of Professor David Greenaway, Dr Peter Wright, and Robert Hine. Since joining the department in September 2003, Professor Elliott has developed a research profile that intersects international economics, development economics, environmental and energy economics, and international business, with a particular focus on the Chinese economy, firm behaviour, natural disasters, and the environmental impacts of globalisation. In addition to his teaching responsibilities, which include courses on the Global Economy and China and the World Economy, Professor Elliott is actively involved in various research initiatives. He is an editor for the Sustainable Future Policy Lab and a Director of the Trade, Environment, Development and Energy (TEDE) research group. His research encompasses a wide range of topics, including empirical environmental economics, international trade, energy economics, and the economics of natural disasters. He is currently engaged in the ''Brexit Uncertainty Index'' project and collaborates on Leverhulme Trust research projects related to globalisation and the environment. Professor Elliott is also a member of the Birmingham Plastics Network, an interdisciplinary team addressing the global plastics problem, and has been involved in numerous other initiatives, including being a Co-Investigator on the ReLIB project as part of the Faraday Institute and an affiliate of the Lloyds Bank Centre for Responsible Business. His research has been supported by significant grants, including approximately £1 million from the ESRC for a project on China-UK energy issues.


Research interests

Professor Robert Elliott''s research focuses on applied economics, particularly at the intersection of international economics, development economics, environmental and energy economics, and international business. His specific areas of interest include the Chinese economy, firm behaviour, natural disasters, and the impact of globalisation on the environment. He is involved in various research initiatives, including the Birmingham Plastics Network, which addresses the global plastics problem through interdisciplinary collaboration. Professor Elliott''s main research covers empirical environmental, international trade, development, energy, and labour economics, with specific topics including the economics of China and East Asia, empirical environmental and international economics, environmental economic history, globalisation and the environment, and the economics of natural disasters. He is also engaged in research related to trade, the environment, foreign direct investment (FDI), industrial restructuring, economic geography, and global value chains. Currently, he is working on the Brexit Uncertainty Index project and is involved in Leverhulme Trust research projects concerning globalisation and the environment.

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