Benefit Cost Analysis (RSEC5431)

UNIT OF STUDY

This unit provides a detailed treatment of benefit-cost analysis and its use in public sector decision making and project evaluation. The underpinning concepts in welfare economics are analysed in detail, such as economic efficiency, criteria for assessing social welfare improvements, and economic surplus measures. Procedures of undertaking a benefit-cost analysis are presented, and tools of non-market valuation for environmental assets are covered in detail. These techniques include both stated and revealed preference techniques, including contingent valuation, choice modeling, hedonic pricing and travel cost methods.

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Further unit of study information

Classes

1x2 hr lecture/wk, commencing week 1, 1x1hr tutorial/wk, commencing week 2

Assessment

1 x oral presentation (5%), 1 x written individual essay (20%), 1 x 1hr mid-semester exam (25%), 1 x 2hr final examination (50%)

Faculty/department permission required?

No

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