Develop a basic understanding of socioeconomic impact analysis, social cost-benefit analysis, and cost-effectiveness analysis, as well as the necessary economic valuation concepts and tools to perform them; apply these insights to assess the costs and benefits of an area development project.
This is a part of Module 7, Area Development of the Bachelor Civil Engineering. See here for the complete description of this module.|
In this course you will focus on social cost-benefit analysis (CBA) as a method to quantify pros and cons of an area development project. You will go through the basic steps of a CBA, including discounting and criteria for judging on an efficiency of a project alternative. You will be introduced into key economic concepts from the viewpoint of spatial planning and urban design, the nature of externalities – positive or negative effects of a project incurred by third parties – and look at how social CBA integrates them. In particular, we will discuss how environmental and social costs and benefits in addition to economic could be incorporated, and what valuation methods are typically used to monetize them. We will zoom into a number of empirical cases of social CBA, and finally expand our CBA toolkit to include computational approaches and cost-effectiveness analysis (CEA). This content will be covered by the lectures and tutorials and assessed by an individual exam.
External students who are interested in this elective: please contact email@example.com