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Further information on which modules are specific to your programme.

Module description

Cost–Benefit Analysis introduces students to the economic principles and empirical methods used to evaluate public policies and projects. The course develops a rigorous framework for identifying, measuring, and monetising the social costs and benefits of policy interventions, with emphasis on welfare economics, discounting, non-market valuation, risk and uncertainty, and distributional impacts. Students will apply quantitative techniques to real policy problems in areas such as health, environment, transport, education, and climate policy. The course emphasises practical appraisal skills aligned with international best practice and equips students to design, interpret, and critically assess cost–benefit analyses for policy decision-making.

Intended learning outcomes

• Apply welfare economic principles to evaluate the efficiency and social desirability of public policies and projects.
• Measure and monetise costs and benefits, including non-market impacts, using appropriate empirical and valuation methods.
• Implement discounting and risk analysis techniques to compare policy options over time under uncertainty.
• Assess distributional and equity implications of policy interventions and evaluate trade-offs between efficiency and fairness.
• Critically interpret and produce policy analyses consistent with professional standards.
• Communicate effectively the results of cost-benefit analyses to policy audiences.