Monash University Handbook 2011 Undergraduate, Postgraduate - Unit

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.

Synopsis

Topics include development and application of microeconomic theory for the economic evaluation of (public) sector investment projects and policies; investment analysis and criteria, discounting techniques; Pareto potential improvement criterion, shadow pricing, social discount rates, distribution issues, secondary benefits, risk and uncertainty, cost-effectiveness.

Objectives

The learning goals associated with this unit are to:

1. apply the analytical framework, economic principles and techniques required for the economic evaluation of investment projects, policies and regulations, especially those involving the public sector
2. appreciate the welfare economic foundations upon which economic evaluation is based
3. design studies to estimate benefits and costs, in the presence of market distortions (eg controls, taxes and externalities), and for non-marketed goods (for example, time, noise, safety).

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Chief examiner(s)

Peter Forsyth

Contact hours

3 hours per week

Prerequisites

ECC4650 or equivalent

Prohibitions

ECX5479