Syllabus Lectures Old 2008 Lectures Readings Homework Handouts Rice Project Readings for Group Project Instructions for Group Project Instructions for Term Paper Powerpoint Template for Class Presentation Review Questions 1 Review Questions 2 AREC Home CALS Home UA Home		Course Description Cost-Benefit Analysis AREC 514 | ECON 514 | ARL 514 Spring 2009 Instructor: Professor Mark Langworthy Chávez Bldg, Room 403D (520) 621-2472 FAX (520) 621-6250 markl@ag.arizona.edu I. Overview This course deals with the theory and the practice of cost benefit analysis. Cost benefit analysis has been called "part science, part art," and the course tries to provide an understanding of both theoretical constructs and the compromises necessary for successful empirical applications. The course focuses on the methods of cost benefit evaluation – the measurement of costs and benefits (including the concepts of consumer and producer surplus), the use of discount rates, and the treatment of risk and uncertainty. Attention also is focused on social cost benefit analysis, to understand the perspective of the public sector on the evaluation of projects, and to show how that perspective might differ from the perspective of a private sector investor. Applications of cost-benefit principles to policy problems in the areas economic development of natural resource and environmental management will be discussed. II. Requirements Sixty percent of the grade received in the course will be based on two in-class exams and a final. Each exam will have an equal weight (20 percent) in the determination of the course grade. A short paper will be required (at most 5 pages of text, plus tables), in which the student evaluates a project to increase rice production in the Philippines. A detailed description of the exercise will be distributed during the semester. Papers are due by the last class lecture. Earlier submissions are welcomed. This exercise will count for 20 percent of the course grade. Another writing exercise will be assigned during the course of the class. This will also be a short paper (5 – 8 pages). The details of this exercise will be provided in class. This paper will also be due by the last class lecture. This exercise will count for 20 percent of the course grade. III. Readings Boardman, Anthony, et al. Cost-Benefit Analysis: Concepts and Practice, Second Edition. Prentice Hall, 2001. Richard Zerbe and Dwight Dively. Benefit Cost Analysis: In Theory and Practice HarperCollins, 1994. All optional readings are denoted with an asterisk (*).
	Last updated April 29, 2009 Document located at http://ag.arizona.edu/classes/arec514/ website contact:arecweb@ag.arizona.edu