Cost Benefit Analysis

EC5202 - Cost Benefit Analysis

This subject examines the use of cost-benefit analysis in evaluating the efficiency of projects. Cost-benefit analysis can be applied to evaluate both physical projects (for example a new mine, new water infrastructure or new railway systems) and non-physical projects (for example changes in the health or educational system). As such, the subject provides relevant skills to a broad range of students well outside the economics domain. The subject pays particular attention to the role of Indigenous people and communities in projects, and external (particularly environmental) costs and benefits. At the conclusion of the subject, students will be able to conduct a cost-benefit analysis at a professional level.

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[Pre-requisite] BU1003 OR BU1903 OR EV2003 OR EG4000 OR EC1005 OR EC1001 OR (EC1010 AND EC1020)

[Pre-requisite] BU1003 OR BU1903 OR EV2003 OR EG4000 OR EC1005 OR EC1001 OR (EC1010 AND EC1020) Offerings: All

[Anti-requisite] EC3406 EC5202 BX3013 BX2012

[Anti-requisite] EC3406 EC5202 BX3013 BX2012 Offerings: All

BX3033 - Cost Benefit Analysis

Summarise the theoretical welfare-economics background of cost-benefit analysis

Explain the difficulties of attempting to include non-market values (e.g. environmental values) and / or the views of Indigenous People in standard western-science cost-benefit analysis frameworks

Conduct (using an Excel spreadsheet) a cost-benefit analysis of a real-life project and interpret the findings