18249 - Land and Environmental Appraisal

Learning outcomes

At the end of the course, the student acquires knowledge of appraisal applications and the related regulations in the territorial and environmental context. Specifically, the student can evaluate real estate assets relevant to rural areas and contribute to assessing environmental goods and services.

Course contents

Prerequisites:

Students enrolling in this course should have a solid foundation in mathematics, economics, and statistics fundamentals. They should also possess knowledge of the agricultural and agro-forestry production systems. These competencies and knowledge are acquired through the coursework completed in the first two years of the program.

Course Syllabus

The topics covered in this course are divided into four instructional units: rural appraisal, legal appraisal, environmental appraisal, and project evaluation.

RURAL APPRAISAL (24 hours)

a. Content aims and methods of appraisal.

i. Appraisal criteria

ii. Appraisal procedures

iii. Professional ethics

b. Appraisal of rural properties

i. Rural real estate market

ii. Comparative market analysis

iii. Income capitalization approach

iv. Complementary value estimation

c. Appraisal of rural buildings

i. Buildings used for agricultural activities.

ii. Buildings in need of renovation

d. Appraisal of fruit tree crops

i. Cycles and production systems for fruit trees

ii. Mixed fruit tree systems

iii. Specialized fruit tree systems

e. Appraisal of forests

i. Value of understory vegetation

ii. Soil value estimation

iii. Forest appraisal

f. Appraisal of hanging fruits

g. Elements of financial calculations

i. Capital and interest

ii. Simple interest

iii. Compound interest

iv. Periodicity

h. Land cadastre

i. Purposes and structure of the land cadastre

ii. Land cadastre documents and practices

Acquired Skills:

Students will understand the main criteria and procedures for appraising rural assets, as well as the legal and social context in which these assets are situated. They will be capable of determining the market value of rural properties, rural buildings, fruit orchards, and forests.

LEGAL APPRAISAL (10 hours)

a. Technical consultancy and arbitration

i. Dispute resolution

ii. Judicial process

iii. Arbitration or compromise

b. Appraisal related to public utility expropriations.

i. Procedural aspects

ii. Criteria for assessing expropriation compensation.

iii. Additional compensation

iv. Temporary occupation

c. Damages appraisal

i. Insurable damages

ii. Fire damages

iii. Damages to fruit tree crops

iv. Pollution damages

v. Hail damages

Acquired Skills:

Students will develop professional skills applicable to expropriation procedures and damage assessment.

ENVIRONMENTAL APPRAISAL (18 hours)

a. Total Economic Value (TEV), externalities, and public goods

i. From market value to social value

ii. Total economic value: use value, option value, existence value

b. Criteria and methods for valuing environmental goods.

i. Criteria for valuing environmental goods.

ii. Monetary methods: market price, defensive expenditures, restoration cost, travel cost, hedonic price, contingent valuation, contingent ranking/classification

iii. Non-monetary methods: multicriteria evaluation

c. Environmental damage assessment

d. Environmental Impact Assessment and Strategic Environmental Assessment

Acquired Skills:

Students will be able to understand the procedures and contribute to assessing environmental goods and services.

PROJECT EVALUATION (8 hours)

i. Private investment evaluation

ii. Public investment evaluation: cost-benefit analysis

Acquired Skills:

Students will develop the necessary professional skills to assess the financial and economic feasibility of a project and choose the most favourable alternative among several options.

Readings/Bibliography

Gallerani V., Zanni G. e Viaggi D. (2011): Manuale di Estimo, Seconda Edizione, Milano, McGraw-Hill. (Chapters: 1, 2, 3, 4, 5, 6, 11, 12, 16, 19, 20, 21, 22, 23, 24, 25, 27)

Class notes

Teaching methods

The course includes traditional classroom lectures, complemented by exercises applying the concepts learned, seminars, and the analysis of case studies.

The acquisition of knowledge and the ability to understand will be continuously monitored during classroom lectures through ongoing interaction between the instructor and the students. The interaction between the lecturer and students, which will involve discussing topics covered in the course, particularly those related to current issues in the discipline, aims to promote independent judgment and improve communication skills.

Through the practical exercises, students' ability to apply the acquired knowledge to common cases in rural and environmental appraisal will be assessed.

Considering the nature of the activities and teaching methods, attending this educational activity requires prior completion of Modules 1 and 2 on safety in the learning environment through e-learning.

Assessment methods

The assessment of learning is carried out through a single final exam, which consists of an average 25-minute oral interview. During this exam, the student will be asked two questions related to two of the teaching units, and the student must provide sufficient answers to each question. An additional question related to financial calculations or land cadastre will be an integral part of and complete the exam. In formulating the final evaluation, the weight of the three questions will be considered equivalent.

For the exam, technical manuals or calculation aids are not required and therefore not permitted.

The student must demonstrate not only knowledge of the topics covered but also the ability to connect them and solve estimation-related problems.

The dates, times, and locations of the exams are published on the course's website.

To register for exams, you must use the web application AlmaEsami.

https://almaesami.unibo.it/

Teaching tools

PC and Projector

Case studies

Office hours

See the website of Rino Ghelfi