Course overview
This course provides hands-on experience in structuring assessment of, and applying modelling solutions to, real-world problems of resource use and allocation. Students will develop skills to assess decision-making outcomes at operational and higher levels. The course begins with an introduction to a set of clear theoretical foundations as a basis for skill development. A selection of analytical frameworks for conducting cost-benefit analysis will follow. Techniques learned will allow students to assess the current state of business or policy setting and evaluate potential improvements to enhance profitability, sustainability, and human outcomes while accounting for limited business, government or social resources.
- Microeconomic Theory and Concept of CBA
- Market and non-market Valuation of CBA Impact
- Reconciling CBA and Microeconomic Foundations
Course learning outcomes
- Demonstrate an understanding of the key theoretical and practical aspects of conducting a Cost-Benefit Analysis (CBA)
- Evaluate existing CBA studies, including the ethical and social consequences of decision-making using CBA
- Prepare a CBA report that demonstrates knowledge and practical implementation skills of relevant CBA theory
- Demonstrate good inter-personal and communication skills in the evaluation and application of CBA