ECON 0225 - COST BENEFIT ANALYSIS

Minimum Credits: 3
Maximum Credits: 3
Market failures are widespread in societies, resulting in the non- provision of some goods and services deemed desirable to society. Additionally firms often fail to take into account the negative effects of their actions on the society as a whole. In these situations government intervention is deemed necessary. Cost-benefit analysis (CBA) is a tool used by government agencies to determine the effectiveness of public works projects. CBA is the application of economic, financial and quantitative reasoning tools to issues of resource allocation in public policy. It identifies, quantifies and aggregates the positives (benefits) and negative (costs) effects associated with a public policy decision. The course is taught partly in a seminar format and will often cover applications of CBA to crime, (such as a cost/benefit analysis of imprisonment in different states or the measurement of rehabilitation and special deterrence), health care, education, transportation, the environment and other public policies that are of current interest.
Academic Career: Undergraduate
Course Component: Lecture
Grade Component: LG/SNC Elective Basis
Course Requirements: PREQ: ECON 0100

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