This unit provides an investment analysis of the viability of social and economic projects or programs with a view of informing and guiding decision making. Cost benefit analysis uses microeconomic theory to determine whether society will be better off or worse off in aggregate if a particular project goes ahead. Particular attention is paid to incorporating the non-monetary costs and benefits of a project.

Learning outcomes

After successful completion of this unit, students will be able to:
1. Write a Cost Benefit Analysis report that is suitable for public policy; and
2. Explain the principles behind cost benefit analysis.

Graduate attributes

1. UC graduates are professional - communicate effectively
1. UC graduates are professional - display initiative and drive, and use their organisation skills to plan and manage their workload
1. UC graduates are professional - employ up-to-date and relevant knowledge and skills
1. UC graduates are professional - take pride in their professional and personal integrity
1. UC graduates are professional - work collaboratively as part of a team, negotiate, and resolve conflict
2. UC graduates are global citizens - adopt an informed and balanced approach across professional and international boundaries
2. UC graduates are global citizens - behave ethically and sustainably in their professional and personal lives
2. UC graduates are global citizens - communicate effectively in diverse cultural and social settings
2. UC graduates are global citizens - make creative use of technology in their learning and professional lives
2. UC graduates are global citizens - think globally about issues in their profession
2. UC graduates are global citizens - understand issues in their profession from the perspective of other cultures
3. UC graduates are lifelong learners - adapt to complexity, ambiguity and change by being flexible and keen to engage with new ideas
3. UC graduates are lifelong learners - be self-aware
3. UC graduates are lifelong learners - evaluate and adopt new technology
3. UC graduates are lifelong learners - reflect on their own practice, updating and adapting their knowledge and skills for continual professional and academic development

Prerequisites

11175 Introduction to Economics.

Corequisites

None.

Incompatible units

None.

Equivalent units

6353 Project Evaluation and Management.

Assumed knowledge

This unit requires prior exposure to basic microeconomic principles and theories, which are covered in the pre-requisite Introduction to Economics.