Faculty of Business and Economics

Monash University

Undergraduate, Postgraduate - Unit

This unit entry is for students who completed this unit in 2015 only. For students planning to study the unit, please refer to the unit indexes in the the current edition of the Handbook. If you have any queries contact the managing faculty for your course or area of study.

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6 points, SCA Band 3, 0.125 EFTSL

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

LevelUndergraduate, Postgraduate
FacultyFaculty of Business and Economics
Organisational UnitDepartment of Economics
OfferedClayton Second semester 2015 (Day)
Coordinator(s)Dr Paulo Santos


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.


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).


Within semester assessment: 40%
Examination: 60%

Workload requirements

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.

See also Unit timetable information

Chief examiner(s)


ECC4650 or equivalent


ECC5479, ECX5479