Unit Outline

This unit builds on an understanding of microeconomic concepts in order to provide you with an introduction to several widely-applied economic evaluation and impact-assessment methods. Informing decision-makers about how best to allocate scarce resources is a key role for economists in both the private and public sectors. This unit equips you with the knowledge and skills needed to contribute to this process, and provides a comprehensive foundation for advanced study in the area. The first module of the unit emphasises development of the practical skills required to conduct and critique a simple benefit-cost analysis of a project or program, including the ability to organise and present a benefit-cost analysis report effectively. The second module introduces you to approaches for assessing the impact of particular projects on the economy. The aim is to give you a working knowledge of how multi-sector models are constructed and estimated, and of how predicted impacts should be interpreted. The unit also provides you with the theoretical knowledge required to understand the implications, and limitations, of benefit-cost analysis and impact assessment.

Intended Learning Outcomes

As per the Assessment and Results Policy 1.3, your results will reflect your achievement against specified learning outcomes.

On completion of this unit, you will be able to:


1.	Reflect upon and demonstrate broad theoretical and working knowledge of the assumptions and limitations of cost-benefit analysis.
2.	Apply economic theory, analyse and evaluate economic issues.
3.	Reflect upon the social and ethical implications of the of social cost-benefit analysis.
4.	Communicate economic concepts in oral and written formats.

Requisites


REQUISITE TYPE	REQUISITES
Anti-requisite (mutual excl)	BEA332

Alterations as a result of student feedback

How will I be Assessed?

For more detailed assessment information please see MyLO.

Assessment schedule


ASSESSMENT TASK #	ASSESSMENT TASK NAME	DATE DUE	WEIGHT	LINKS TO INTENDED LEARNING OUTCOMES
Assessment Task 1:	Proposal Presentation	Week 4	25 %	LO1, LO2, LO4
Assessment Task 2:	Cost-Benefit Report	Week 8	50 %	LO1, LO2, LO3, LO4
Assessment Task 3:	Executive Summary of Cost-Benefit Report	Week 12	25 %	LO1, LO3, LO4

Assessment details

Assessment Task 1: Proposal Presentation

Task Description:

Groups will give a presentation on their proposed-cost benefit analysis. In addition, groups will be assigned to provide detailed comments on the presentations of at least two other groups. Rubrics and assessment guidelines will be provided on MyLo.

Task Length:

Between 10 and 12 minutes.

Due Date:

Week 4

Weight:

25 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Describe appropriate techniques to conduct the social (or efficiency) cost-benefit analysis.	LO1
2	Describe appropriate economic analysis required for the project.	LO1
3	Present the objective of the cost-benefit analysis and describe the motivation of the project.	LO2
4	Communicate the required content as part of the group presentation.	LO4

Assessment Task 2: Cost-Benefit Report

Task Description:

Students will conduct a cost benefit analysis on an issue of their choice. Detailed instructions and rubric will be available on MyLo.

Task Length:

3000 words maximum not including appendices or tables.

Due Date:

Week 8

Weight:

50 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Describe the key assumptions and limitations of the cost-benefit analysis.	LO1
2	Use appropriate techniques in conducting the social (or efficiency) cost-benefit analysis.	LO2
3	Conduct a cost-benefit analysis and/or impact assessment as a group.	LO2
4	Describe the role of economic analysis in the development or your policy recommendations.	LO3
5	Produce plausible interpretation of cost-benefit analysis in written form supported by diagrams and/or mathematics where appropriate.	LO4

Assessment Task 3: Executive Summary of Cost-Benefit Report

Task Description:

Students individually write an executive summary of the cost-benefit report completed by their group. Detailed instructions as well as the rubric will be available on MyLo.

Task Length:

1000 words maximum

Due Date:

Week 12

Weight:

25 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Explain the key assumptions and limitations of cost-benefit analysis.	LO1
2	Use appropriate techniques involved in conducting a social (or efficiency) cost-benefit analysis.	LO1
3	Describe the role of economic analysis in the policy development process	LO3
4	Conduct a simple cost-benefit analysis and/or impact assessment.	LO3
5	Present a plausible interpretation of the cost-benefit analysis in written form supported by diagrams and/or mathematics where appropriate.	LO4

How your final result is determined

To pass this unit, you need to demonstrate your attainment of each of the Intended Learning Outcomes, achieve a final unit grade of 50% or greater, and pass any hurdle tasks.

Submission of assignments

Where practicable, assignments should be submitted to an assignment submission folder in MYLO. You must submit assignments by the due date or receive a penalty (unless an extension of time has been approved by the Unit Coordinator). Students submitting any assignment in hard copy, or because of a practicum finalisation, must attach a student cover sheet and signed declaration for the submission to be accepted for marking.

Academic integrity

Academic integrity is about acting responsibly, honestly, ethically, and collegially when using, producing, and communicating information with other students and staff members.

In written work, you must correctly reference the work of others to maintain academic integrity. To find out the referencing style for this unit, see the assessment information in the MyLO site, or contact your teaching staff. For more detail about Academic Integrity, see Important Guidelines & Support.

Requests for extensions

If you are unable to submit an assessment task by the due date, you should apply for an extension.

A request for an extension should first be discussed with your Unit Coordinator or teaching support team where possible. A request for an extension must be submitted by the assessment due date, except where you can provide evidence it was not possible to do so. Typically, an application for an extension will be supported by documentary evidence: however, where it is not possible for you to provide evidence please contact your Unit Coordinator.

The Unit Coordinator must notify you of the outcome of an extension request within 3 working days of receiving the request.

Late penalties

Assignments submitted after the deadline will receive a late penalty of 5% of the original available mark for each calendar day (or part day) that the assignment is late. Late submissions will not be accepted more than 10 calendar days after the due date, or after assignments have been returned to other students on a scheduled date, whichever occurs first. Further information on Late Penalties can be found on the Assessments and Results Procedure.

Review of results and appeals

You are entitled to ask for a review of the marking and grading of your assessment task if there is an irregularity in the marking standards or an error in the process for determining the outcome of an assessment. Details on how to request a review of a mark for an assignment are outlined in the Review and Appeal of Academic Decisions Procedure.

Required Resources

Required reading materials

Boardman, A.E., Greenberg, D.H., Vining, A.R., Weimer, D.L (2018). Cost-Benefit Analysis: Concepts and Practice. 5th Edition. Cambridge University Press.

ISBN10: 1108401295 / ISBN 13: 9781108401296

Campbell, H.F., Brown, R.P.C. (2022). Cost-Benefit Analysis: Financial and Economic Appraisal Using Spreadsheets. 3rd Edition. Routledge Taylor & Francis Group.

ISBN 9781032320755