Social Cost-Benefit Analysis – (Certificate)

Contents

This course is intended for those who are interested in the valuation of public as well as private sector projects, programs or policies from the social point of view.

The course will offer an overview of the conceptual foundations of social cost-benefit analysis, familiarize participants with the underlying principles of valuation of social costs and benefits in a closed economy as well as in an open economy, and develop analytical skills, which are based on socially oriented and economic thinking. Main differences between the financial and economic analysis will be outlined and the relevance of the use of market prices in the social cost-benefit analysis, will be clarified.

The participants will become familiar with the main methods of valuation of social costs and benefits and will learn how to value market-goods as well as non-market-goods, such as public goods, life and time, by using contingent valuation methods or applying methods that are based on observed behaviour.

Among other things, the course will also focus on the consideration of uncertainty and risk in social cost-benefit analysis and explain the concept of marginal social cost of public funds. By the end of this course the participants will be able to identify and evaluate the social costs and benefits associated with the projects and programs of public or private sectors and to assess whether the projects and programs are desirable from society's point of view.

This two-week course consists of lectures and workshops.