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Unit of study_
AREC3007: Benefit-Cost Analysis
2025 unit information
Benefit-cost analysis underlies many widely used economic analysis methods, including economic impact analyses, business cases, cost-effectiveness studies, and policy evaluations. This unit covers the theory and procedures of conducting a benefit-cost analysis. Common economic analysis techniques are learned through analysing various case studies. These techniques include valuing AR market impacts like changes in employment, property values, and wages; non-market valuation methods like hedonic pricing and contingent valuation; discounting; the value of a statistical life; and sensitivity analysis.
Unit details and rules
Managing faculty or University school:
Arts and Social Sciences
| Study level | Undergraduate |
|---|---|
| Academic unit | Economics |
| Credit points | 6 |
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Prerequisites:
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ECOS2001 or ECOS2901 or AREC2005 or AREC2003 |
|---|---|
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Corequisites:
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None |
| Prohibitions:
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(AREC2004 or RSEC4131) |
| Assumed knowledge:
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None |
At the completion of this unit, you should be able to:
- LO1. demonstrate an understanding of the theoretical underpinnings of benefit-cost analysis
- LO2. demonstrate development of skills and experience for undertaking practical benefit-cost analysis studies
- LO3. demonstrate an understanding of the interpretation of benefit-cost analysis studies
- LO4. demonstrate an understanding of the main techniques used in non-market valuation
- LO5. communicate complex technical information clearly and convincingly
- LO6. evaluate the strengths and weaknesses of the benefit-cost analysis methodology, including ethical implications.
Unit availability
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The outline is published 2 weeks before the first day of teaching. You can look at previous outlines for a guide to the details of a unit.
| Session | MoA ? | Location | Outline ? |
|---|---|---|---|
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Semester 1 2025
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Normal day | Camperdown/Darlington, Sydney |
Outline unavailable
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Modes of attendance (MoA)
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