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This is textbook for university students and a manual for professionals. It gives an in-depth treatment of the theory and application of Cost-Benefit Analysis, using an integrated approach where the financial, economic, stakeholder and risk analyses are carried out in a single integrated project model. Fully developed case examples are presented for both public and public private partnership investment expenditures.
A social cost-benefit analysis of a proposed publicly funded project, or public policy change, may be commissioned by a municipal, state or federal government, by a government aid agency, or by an international. Proponents of a private project which has significant social impacts may also commission an economic analysis of this type. The key economic questions of any social cost-benefit analysis are: do the benefits of the project exceed the costs, no matter how widely costs and benefits are spread? And which group or groups of individuals benefit and which bear the costs? This book addresses these questions with an emphasis on putting the theory into practice. The book has several unique features: readers are encouraged to develop their own skills by applying the tools and techniques of cost-benefit analysis to case studies including a project which is developed through the book; the use of spreadsheets is emphasised which is invaluable in allowing readers to test variables and cross-check the accuracy of their economic appraisal; and a dedicated chapter provides guidance on writing up a report which completes the analysis. An appendix lists additional case studies which can be developed in class or as additional projects. Each chapter contains exercises and suggestions for further reading. This book is an ideal text for a course on cost-benefit analysis where the emphasis is on practical applications and teaching students to conduct their own analysis. The book's companion website can be found at: http://uq.edu.au/economics/sites/bca/.
The Asian Development Bank (ADB) has been continuously undertaking measures to enhance the effectiveness of its operations. To improve projects both at the preparation and implementation stages, ADB issued the Guidelines for Economic Analysis of Projects in 1997 as a means to enhancing project quality at entry. The conduct of proper economic analysis helps ensure the efficient use of development funds and public resources and thereby increase aid effectiveness. This practical guide is a supplement to the Guidelines for the Economic Analysis of Projects. It provides an overview of recent methodological developments in cost-benefit analysis as well as suggested improvements in the economic analysis of projects in selected sectors through case studies. These case studies illustrate the application of suggested methodologies, taking into account sector-specific needs, as well as difficulties faced by practitioners in terms of data and time constraints during project processing. It also aims to contribute to ADB’s capacity building initiatives as this will be the main reference material for conduct of economic analysis.
Benefit-Cost Analysis offers the perfect introduction to benefit–cost analysis. The book closely integrates the theory and practice of benefit–cost analysis using a spreadsheet framework. The spreadsheet model is constructed in a truly original way which contributes to transparency, provides a check on the accuracy of the analysis, and facilitates sensitivity, risk and alternative scenario assessment. A case study incorporating the various issues is progressively developed on a spreadsheet with the links between each stage thoroughly explained. The complete case study spreadsheet can serve as a template for the reader's own appraisal of projects in the field. In addition to the worked examples in the text some exercises are appended at the end of each chapter. For further information please visit http://www.uq.edu.au/economics/bca
Drawing on the principles of welfare economics and public finance, this second edition of Cost-Benefit Analysis: Theory and Application provides the theoretical foundation for a general framework within which costs and benefits are identified and assessed from a societal perspective. With a thorough coverage of cost-benefit concepts and their underlying theory, the volumecarries the reader through the steps of a typical evaluation process, including the identification, measurement, and comparison of costs and benefits, and project selection. Topics include alternative measures of welfare change, such as the concepts of consumer surplus and compensating and equivalent variation measures, shadow pricing, nonmarket valuation techniques of contingent valuation and discrete choice experiment, perspectives on what constitutes a theoretically acceptable discount rate, the social rate of time preference, income distribution, and much more. The book also focuses on real-world applications of cost-benefit analysis in two closely related areas—environment and health care—followed by an examination of the current state of the art in cost-benefit analysis as practiced by international agencies.
This book is open access under a CC BY 4.0 license. This book presents methods to evaluate sustainable development using economic tools. The focus on sustainable development takes the reader beyond economic growth to encompass inclusion, environmental stewardship and good governance. Sustainable Development Goals (SDGs) provide a framework for outcomes. In illustrating the SDGs, the book employs three evaluation approaches: impact evaluation, cost-benefit analysis and objectives-based evaluation. The innovation lies in connecting evaluation tools with economics. Inclusion, environmental care and good governance, thought of as “wicked problems”, are given centre stage. The book uses case studies to show the application of evaluation tools. It offers guidance to evaluation practitioners, students of development and policymakers. The basic message is that evaluation comes to life when its links with socio-economic, environmental, and governance policies are capitalized on.
The genus of definitions for the theoretical sciences is (the province of) the habitus of the intellective intention, for the practical sciences, however, that of the effective intention; the objects and ends constitute the specific differ ence There is nothing in the intellect that has not already been in the senses, that is, in the sensory organs, that has not already been in sensible things from which are distinguished things not perceptible to the senses. Nothing can be of the mind, sensation and the thing inferred therefrom except the operation itself. Real learning is cognition of things in themselves. It thus has the basis of its certainty in the known thing. This is established in two ways: by demon stration in the case of contemplative things, and by induction in the case of things perceptible to the senses. In contrast with real learning there is pos sible, probable and fictive learning. Antonius Gvilielmus Amo Afer (1827) This research has been long in the making. Its conception began in my last years in the doctoral program at Temple University, Philadelphia, Pa. It was simultaneously conceived with my two books on the Neo Keynesian Theory of Optimal aggregate investment and output dynamics [201] [202] as well as reflections on the methodology of decision-choice rationality and development economics [440] [441]. Economic theories and social policies were viewed to have, among other things, one impor tant thing in common in that they relate to decision making under different.