BUSM 2005 Cost Benefit Analysis
Credit Points 10
Legacy Code 200924
Coordinator Neil Perry Opens in new window
Description Students will learn and apply Cost Benefit Analysis, the most commonly used economic tool in business, consultancy and government organisations. The unit is a core unit in the Economics major but is open to all students who have a basic understanding of economics and a desire to improve their analytical skills and employability. At the completion of the unit, students will be able to explain the economic foundations of cost-benefit analysis and they will have experience with analysing, critically evaluating and developing a cost-benefit analysis for a specific proposal. Students will also consider risk analysis and cost-effectiveness analysis.
Student Contribution Band HECS Band 4 10cp
Check your HECS Band contribution amount via the Fees page.
Level Undergraduate Level 2 subject
Basic understanding of economics.
- Explain the welfare economics foundation to cost-benefit analysis.
- Critically evaluate a cost-benefit analysis.
- Conduct a cost-benefit analysis.
- Distinguish between cost-benefit and cost-effectiveness analysis.
- Explain the role of uncertainty and risk when evaluating proposals.
2. Steps in a cost-benefit analysis.
3. Valuing social benefits.
4. Evaluating indirect effects.
5. Opportunity costs, market and shadow prices.
6. Valuing non-market goods.
7. Discounting and the decision criteria.
8. Uncertainty and risk analysis.
10. Cost-effectiveness analysis.
The following table summarises the standard assessment tasks for this subject. Please note this is a guide only. Assessment tasks are regularly updated, where there is a difference your Learning Guide takes precedence.
|Professional task||1500 words||25||N||Individual|
|Final examination - Take home||2 hours||50||N||Individual|
2022 Semester 1
Subject Contact Neil Perry Opens in new window
Attendance Requirements 80% attendance rate is imposed in all core subjects’ due to the nature of class activities that are aligned with subject assessments.