Description of course

The course describes how to evaluate public policies and projects using economic principles. We start with a discussion of the nature of public issues, economic evaluation and the welfare economic principles that are the basis for economic analysis for public policy. The main part of the course explains the principal method of economic evaluation, cost-benefit analysis, in detail. Other methods of evaluation are introduced and compared with cost-benefit analysis. The course draws on numerous practical examples and exercises. Aims of the course The minimum aim of the course is to enable students to understand the role of economic analysis in the conduct of public policy. For stronger students, the aim is to enable you to conduct economic evaluations, using cost-benefit analysis, and to advise policy makers on public policy issues. Course method In our Tuesday evening sessions, I will talk for about an hour and a half outlining the key points for that week. There will then a break for about 10 minutes. In the second half of the evening, students will break into groups to discuss questions relating mainly to the topic of the previous week. Students should do the core reading associated with each topic. You will be given the questions at the session so that you will engage actively in problem solution. Course schedule: topic