Comparing the alternatives in cost benefit analysis
This course introduces the principles of cost benefit analysis and provides a clear structure for conducting or evaluating a cost benefit analysis.
The course begins by discussing what cost benefit analysis can be used for, in what kinds of situations it has been used in real life, and why it is preferred to some other methods for analysing whether a project should be implemented or not. It then moves on to introduce 10 steps for conducting a cost benefit analysis, and explains these steps carefully one by one. Examples and references to real life are provided throughout the course. Additionally, throughout the steps one particular example is followed through to provide some flesh to the story. After the steps, the course also discusses some shortcomings of the method and the importance of making policy recommendations after the analysis.
After the course the student should have a clear overview of cost benefit analysis and its possibilities, but also be aware of the shortcomings of the method. The student knows the structure or the cost benefit analysis and can use the structure to conduct their own analysis or evaluate an existing one.
Who this course is for:
5 sections • 17 lectures • 1h 28m total length
4 lectures • 19minIntroduction to the course and subject
Why use a cost benefit analysis?
What can cost benefit analysis be used for?
4 lectures • 13minSetting up
Steps in a cost benefit analysis
Define goal and objectives
Define alternative actions
Define spatial and temporal extent
4 lectures • 25minEstimating costs and benefits
Select measurements and measure all the elements
Predict outcome of impacts
Estimate the costs and benefits
3 lectures • 17minComparing costs and benefits
Identify the best actions and provide recommendations
I worked for about 15 years as a researcher, also teaching at the university level along with my main job. For the past 5 years now I have worked as the Head of Training in a non-governmental organisation related to safe boating, being responsible for both online and contact teaching in adult education. As a side-job, I work in my own company that specializes in gamified team development, done mostly online.