Providing a healthy school environment is a priority for child health. The aim of this study is to develop a methodology that allows quantification of the potential economic benefit of reducing indoor exposure to nitrogen dioxide (NO2) in children attending primary schools. Using environmental and health data collected in primary schools in London, this study estimates that, on average, 82 asthma exacerbations per school can be averted each year by reducing outdoor NO2 concentrations. The study expands upon previous analyses in two ways: first it assesses the health benefits of reducing children's exposure to indoor NO2 while at school, second it considers the children's perspective in the economic evaluation. Using a willingness to pay approach, the study quantifies that the monetary benefits of reducing children's indoor NO2 exposure while at school would range between £2.5 k per school if a child's perspective based on child's budget is adopted up to £60 k if a parent's perspective is considered. This study highlights that designers, engineers, policymakers and stakeholders need to consider the reduction of outdoor pollution, and particularly NO2 levels, near primary schools as there may be substantial health and monetary benefits.