This video series has been created for anyone in the emergency management sector who is interested in learning how to apply economic analyses to the management of natural hazards.

In the second video of the series, Dr Veronique Florec covers the basics of benefit-cost analyses—what information is needed to conduct one and key definitions. By the end of this video, you will know what a counterfactual is, why it is essential to have one for a benefit-cost analysis, how to select the appropriate counterfactual, and how the benefits of mitigation are calculated.

Watch video 3, Using economics to estimate losses from natural hazards, here.