The economics of flood insurance

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The economics of flood insurance provided by OpenLearn is a comprehensive online course, which lasts for 6 hours worth of material. Upon completion of the course, you can receive an e-certificate from OpenLearn. The course is taught in Englishand is Free Certificate. Visit the course page at OpenLearn for detailed price information.

The Open University via OpenLearn

6 hours worth of material

Self Paced

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. With the incidence of flooding rising due to ...

Syllabus

- Introduction
- Learning outcomes
- 1 Why flooding happens
- 1 Why flooding happens
- 1.1 What is Flooding?
- 1.2 Flood risk management
- 1.3 Flooding in the UK
- 2 Building on flood plains
- 2 Building on flood plains
- 2.1 Demand factors: why buy homes in flood plains?
- 3 Competitive markets and market failure
- 3 Competitive markets and market failure
- 3.1 The functioning of markets
- 3.2 Individual choices
- 3.3 The demand-and-supply model
- 3.4 Market failure and building on flood plains
- 3.5 Market failure and buying on flood plains
- 4 Options for reducing building on flood plains
- 4 Options for reducing building on flood plains
- 4.1 How might building on flood plains be reduced?
- 4.2 Compensation through insurance
- 4.3 Potential problems with insurance
- 5 The UK approach to the problem of flooding
- 5 The UK approach to the problem of flooding
- 5.1 Problems with affordable flood insurance
- 5.2 A surprising solution
- 5.3 Weighing up the options
- 5.4 Taking fairness into account
- 5.5 Measuring the equity benefit
- 5.6 The government’s policy decision
- 6 Conclusion
- 6 Conclusion
- Glossary
- References
- Acknowledgements

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Language

English
Certificate
Certificate Available
Date of Start
30th December, 2022
Level
Intermediate
Price
Free Certificate
Provider
OpenLearn
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