Economic Evaluation of Investment Projects

The main objective of this seminar is to understand the concepts and components behind a cost-benefit analysis. Through the notions of economic efficiency and consumer preferences, a framework is developed to measure the benefits and costs of a project for the producer, the consumer and society in general. Of particular importance is the presentation of evaluation techniques for cases where the market works perfectly, does not work perfectly or does not exist at all. This seminar also covers the topics of discounting future benefits and costs, decision making and planning given uncertainties, the value of statistical lives and injuries, and the use of pilot projects.

 
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