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This paper is ocncerned with introducing different economic methods for evaluating the environment. Apart from making familiar those people who are interested in environmental issues, the main aim of the paper is to remind that we should not any more think of the environment as a free and valueless good. The planners and policy makers should recognise that the environment has a latent economic value, which is indeed very high under the present circumstances. The methods being introduced in this paper are either related to (market prices - such as opportunity cost method), and (surrogate markets - like hedonic pricing method), or based on (interviews and questionnaires - e. g. contingent valuation method). In addtion to presenting practical applications, the weaknesses of these methods are also being highlighted