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.
Course learning outcomes
- Demonstrate an in-depth understanding of the key theoretical and practical aspects of conducting a Cost-Benefit Analysis (CBA)
- Develop a CBA using relevant modelling assumptions or approximations
- Communicate with experts and non-experts the inputs to and results from a CBA
- Evaluate risk and uncertainty in decision-making within a CBA framework
- Critically evaluate the ethical and social consequences of decision-making using CBA