^BENEFIT-COST ANALYSIS

Catalog description

Develops the fundamental tools for Benefit-Cost Analysis, a technique for evaluating a project or investment by comparing the economic benefits with the economic costs of the activity. Examines the tricky topic of how to measure the benefits of non-market such as good health and higher environmental quality. The methods introduced here apply to a wide variety of situations. Explores the broad issues of how to think about uncertainty and risk, how to discount future costs and benefits, to value lives saved, and other challenging topics.