ECON 7245 - Cost-Benefit Analysis
North Terrace Campus - Semester 1 - 2024
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General Course Information
Course Details
Course Code ECON 7245 Course Cost-Benefit Analysis Coordinating Unit Economics Term Semester 1 Level Postgraduate Coursework Location/s North Terrace Campus Units 3 Contact Up to 3 hours per week Available for Study Abroad and Exchange Y Restrictions For Master of Economics and Resource Policy Graduate Diploma in Economics and Resource Policy Graduate Certificate in Economics and Resource Policy Course Staff
Course Coordinator: Mr Akwasi Ampofo
Course Timetable
The full timetable of all activities for this course can be accessed from Course Planner.
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Learning Outcomes
Course Learning Outcomes
1. Demonstrate an in-depth understanding of the key theoretical and practical aspects of conducting a Cost-Benefit Analysis (CBA)
2. Develop a CBA using relevant modelling assumptions or approximations
3. Communicate with experts and non-experts the inputs to and results from a CBA
4. Evaluate risk and uncertainty in decision-making within a CBA framework.
5. Critically evaluate the ethical and social consequences of decision-making using CBA
University Graduate Attributes
This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:
University Graduate Attribute Course Learning Outcome(s) Attribute 1: Deep discipline knowledge and intellectual breadth
Graduates have comprehensive knowledge and understanding of their subject area, the ability to engage with different traditions of thought, and the ability to apply their knowledge in practice including in multi-disciplinary or multi-professional contexts.
1-5 Attribute 2: Creative and critical thinking, and problem solving
Graduates are effective problems-solvers, able to apply critical, creative and evidence-based thinking to conceive innovative responses to future challenges.
2,4,5 Attribute 3: Teamwork and communication skills
Graduates convey ideas and information effectively to a range of audiences for a variety of purposes and contribute in a positive and collaborative manner to achieving common goals.
3 Attribute 4: Professionalism and leadership readiness
Graduates engage in professional behaviour and have the potential to be entrepreneurial and take leadership roles in their chosen occupations or careers and communities.
2-5 Attribute 5: Intercultural and ethical competency
Graduates are responsible and effective global citizens whose personal values and practices are consistent with their roles as responsible members of society.
5 Attribute 7: Digital capabilities
Graduates are well prepared for living, learning and working in a digital society.
2,4 Attribute 8: Self-awareness and emotional intelligence
Graduates are self-aware and reflective; they are flexible and resilient and have the capacity to accept and give constructive feedback; they act with integrity and take responsibility for their actions.
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Learning Resources
Required Resources
Cost-Benefit Analysis: Concepts and Practice, Cambridge University Press, 5th Edition, Anthony E. Boardman, David H. Greenberg, Aidan R. Vining, David L. Weimer.Recommended Resources
Relevant software (e.g. Excel), which are available through the University’s ADAPT platform.Online Learning
Extensive use is made of MyUni, and you are required to check the website regularly.
Course material such as lectures notes and assessment materials are available on MyUni. Also, a discussion board will be available for questions you may want to ask your lecturer or fellow classmates.
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Learning & Teaching Activities
Learning & Teaching Modes
Course Material:
All course material will be available on MyUni.
Tutorials:
Tutorials will offer further opportunities to practice what was learned during the workshop. It is expected that students will actively engage with the class and propose solutions to problem sets.
Workload
The information below is provided as a guide to assist students in engaging appropriately with the course requirements.
Students are expected to attend the workshops (2 hours per week) and tutorials (1 hour per week) and spend, on average, 8 hours a week reading and studying.
Learning Activities Summary
The course is divided into four distinct components, each accompanied by relevant assessment:
1. CBA theory: Introduction to theoretical concepts, principles and guidelines, including common pitfalls.
2. Application of CBA: Examples of best-practice, real-life CBA case studies across various sectors, industries or government departments will be presented.
3. A critique of a case study CBA application: Review a CBA case study application, highlighting omissions and potential areas for improvement.
4. Conducting a CBA: This component consolidates the knowledge gained from components one to three, emphasising key considerations for conducting a CBA that adheres to best practices.
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Assessment
The University's policy on Assessment for Coursework Programs is based on the following four principles:
- Assessment must encourage and reinforce learning.
- Assessment must enable robust and fair judgements about student performance.
- Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
- Assessment must maintain academic standards.
Assessment Summary
Assessment Task Task Type Weight Word count/Time Due Learning Outcome Online Quizzes Individual 15-20 min each TBA 1 Midterm Test Individual 60 min TBA 1 Assignments Individual 1500 words each TBA 1,3,4,5 Final Project Individual 2000 words TBA 1-5 Active Participation Individual Weekly 1-5 Assessment Related Requirements
Assignments MUST be submitted online through MyUni. No other type of submission will be accepted. Legible handwriting and the quality of English expression are considered integral parts of the assessment process and may affect marks.
Assessment Detail
Short Online Quizzes
There will be four (TBC) online quizzes aimed at testing key knowledge and learning from the prior workshop sessions.
Midterm Test: CBA Theory
The midterm test will assess comprehension of CBA theory with a series of multiple-choice and short-answer questions.
Assignment 1: Application of CBA
Assignment to demonstrate learnings from CBA application, including challenges faced in CBA application and how they are typically addressed.
Assignment 2: A critique of a case study CBA application
Students are to select a case study to review out of examples provided to demonstrate their skills in critiquing a CBA.
Final project: Conducting a CBA
Students are to independently conduct a CBA on a relevant policy topic of their choice and present this in a report.
Active Participation
Students are to expected to be involved in discussion of theory, case studies, and critiques and engage in the tutorials.Submission
Submission will be via MyUni.Course Grading
Grades for your performance in this course will be awarded in accordance with the following scheme:
M10 (Coursework Mark Scheme) Grade Mark Description FNS Fail No Submission F 1-49 Fail P 50-64 Pass C 65-74 Credit D 75-84 Distinction HD 85-100 High Distinction CN Continuing NFE No Formal Examination RP Result Pending Further details of the grades/results can be obtained from Examinations.
Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.
Final results for this course will be made available through Access Adelaide.
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Student Feedback
The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.
SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
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Student Support
- Academic Integrity for Students
- Academic Support with Maths
- Academic Support with writing and study skills
- Careers Services
- International Student Support
- Library Services for Students
- LinkedIn Learning
- Student Life Counselling Support - Personal counselling for issues affecting study
- Students with a Disability - Alternative academic arrangements
- YouX Student Care - Advocacy, confidential counselling, welfare support and advice
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Policies & Guidelines
This section contains links to relevant assessment-related policies and guidelines - all university policies.
- Academic Credit Arrangements Policy
- Academic Integrity Policy
- Academic Progress by Coursework Students Policy
- Assessment for Coursework Programs Policy
- Copyright Compliance Policy
- Coursework Academic Programs Policy
- Elder Conservatorium of Music Noise Management Plan
- Intellectual Property Policy
- IT Acceptable Use and Security Policy
- Modified Arrangements for Coursework Assessment Policy
- Reasonable Adjustments to Learning, Teaching & Assessment for Students with a Disability Policy
- Student Experience of Learning and Teaching Policy
- Student Grievance Resolution Process
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Fraud Awareness
Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.
The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.
