ECON 407 - Cost-Benefit Analysis

Institution:

University of Michigan-Ann Arbor

Subject:

Description:

Cost-benefit analysis arguably is the most important tool in evaluating public and private policies. Conceptually, cost-benefit analysis is simple: subtract the costs from the benefits and adopt those policies yielding the greatest net benefit. In practice cost-benefit analysis is much more complicated. Costs and benefits must be summed over time, requiring a calculation of net present value. Costs and benefits must be summed over different people, requiring a social welfare function. Finally costs and benefits must be summed over a variety of goods and services, some of which do not have market values or where market values are not appropriate measures. This course reviews the techniques involved in cost-benefit analysis and employs case studies to illustrate these techniques. (AY) 3.000 Credit hours 3.000 Lecture hours Levels: Undergraduate Schedule Types: Lecture, Seminar Social Sciences Department Course Attributes: Upper Division

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.umich.edu

Phone Number:

(734) 764-1817

Regional Accreditation:

North Central Association of Colleges and Schools

Calendar System:

Trimester

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