Date & time
This series will develop your skills to confidently undertake a basic benefit-cost analysis or a project or policy, capably review reports prepared by consultants, and prepare regulatory impact statements.
A combination of essential concepts, case studies and practical exercises is used, without the use of mathematics. The series is suitable for both beginners and as a refresher for those with an economics background.
Cost: Before 7 July 2020: $2,195 for enrolment in the Series (saving of $195 off the price of purchasing each day separately)
After 8 July 2020: $2,495 for enrolment in the Series (saving of $195 off the price of purchasing each day separately)
Group discounts available.
Course overview Introduction to Benefit Cost Analysis (Day 1) A key feature of this course is an introduction to investment analysis using practical exercises such as the purchase of a house. Costs and revenues (benefits) are adjusted for inflation, for the time value of money (using discounting), for different project periods (using equivalent annual values), and for risk (using expected values, decision trees, and Monte Carlo analysis, which is increasingly used by commercial entities). Participants will conduct simple arithmetic calculations in shared learning experiences, and should bring a simple hand-held electronic calculator.
Methods for estimating benefits (Day 2) Drawing on basic techniques, this course explores different methods of estimating benefits, including in seemingly unquantifiable areas such as the environment. Uncertainty about the future is addressed through the ‘real options’ approach which is particularly relevant to areas such as adaptation to climate change. The course concludes with comparisons of benefit-cost analysis with cost-effectiveness analysis and multi-criteria analysis.
A combination of essential concepts, case studies and practical exercises is used, without the use of mathematics. The schedule is subject to alteration to suit participants’ particular interests.
Learning outcomes include:
Confidently undertake a basic benefit-cost analysis of a project or policy Competently review reports prepared by consultants Prepare regulatory impact statements
Who should attend?
This Series is suitable for both beginners and as a refresher for those with an economics background. Simple mathematics of addition, subtraction, multiplication, and area of triangle (0.5 times the base and the height) will be used.