UWA PLUS

Applied Benefit: Cost Analysis – Measuring Benefits

Benefit: Cost Analysis is one of the most important and widely used tools of economics. It supports improved decision making about projects and policies by providing a systematic, logical, transparent, and consultative approach to evaluating and prioritising them. This unit builds off existing qualifications and knowledge of the previous course (Applied Benefit: Cost Analysis - The Essentials).

In this micro-credential, participants will learn how to estimate and calculate the monetary value of various types of benefits from a project or policy. The course is suitable for learners who have had foundation knowledge and skills in running BCA. Examples in this micro-credential focus on agriculture and environmental management, but the material presented is applicable in many other contexts.

The micro-credential takes an applied approach, aiming to provide participants with knowledge and core skills needed to conduct a Benefit: Cost Analysis themselves. As part of this, each participant will construct their own well-designed spreadsheet representing a variety of different types of benefits.

The academic objectives are to understand the concepts and principles in measuring all expected benefits and to learn how to apply it to evaluate real projects and policies in a logical and concise way.

Upon successful completion of this micro-credential, you'll receive:

  • Two PD Points
  • A Certificate of Achievement
  • A UWA Plus Professional Development Transcript, listing all successfully completed micro-credentials
Delivery mode
Online
Course date
27 March to 1 May 2023
To discuss the option of a self-paced version of the course, contact the course coordinator, david.pannell@uwa.edu.au
Applications close
20 March 2023
Duration
4 weeks
Effort
50 hours
50 brief video lectures, around 12 per week),totalling 90 to 120 minutes per week
4 x 60 to 90 minute online workshops
Self-directed learning: 37 hours
Academic lead
David Pannell
Cost
$440 inc. GST
A 25% discount is available for bulk enrolments (5 or more) Generous bursaries are available for students from developing countries. Contact ceep@uwa.edu.au for details.
Critical information summary
SCIEM522 Applied Benefit: Cost Analysis (PDF 243KB)
Student on a laptop with headphones 

What you'll learn

Know different types and ways of calculating all expected benefits of a project or policy

Apply key theoretical and practical aspects of market value to measure different types of expected benefits of a project or policy to different stakeholders

Construct a spreadsheet to do the required calculations for a sound Benefit: Cost Analysis

Use suitable criteria and proper methods for benefit transfer

Understand practical issues in measuring the benefits of a project or policy

Keyboard 

Why study this course?

You will learn from Professor David Pannell who has delivered dozens of BCA training courses, developed widely used BCA software and advised many national and international agencies.

On completion of this flexible and global recognised course, you'll walk away with:

  1. Knowledge of different types of project benefits and ways of calculating them
  2. A comprehensive understanding of benefit transfer in conducting a Benefit: Cost Analysis
  3. Skills and knowledge that can help you further your career
  4. A digital certificate of achievement, a Professional Development Transcript from the University of Western Australia, listing all successfully completed micro-credentials. Your Professional Development Points may be converted to academic credit towards undergraduate or postgraduate courses

Who should study this course

This course is for you if:

  • You are looking to find jobs related to economic evaluation, specifically in conducting a BCA
  • You want to enhance your existing BCA knowledge and leverage your skill sets to stand out within your current role in your team and organization
  • You want to quantify the benefits of a project or policy across various sectors, industries and organisations
  • You want to broaden your knowledge of key theoretical and practical aspects of measuring benefits in conducting a Benefit: Cost Analysis
  • You want to construct a spreadsheet to do the required calculations for a Benefit: Cost Analysis
  • You are looking to interpret and communicate with stakeholders and experts regarding the inputs to and results from a Benefit: Cost Analysis

Reccommended prior knowledge

  • No existing knowledge of economics is required
  • No textbook required - all course materials provided
  • Suitable for learners who have completed the micro-credential SCIEM521 Applied: Benefit: Cost Analysis - The Essentials, or have the foundation knowledge and basic skills in conducting a Benefit: Cost Analysis or who have equivalent knowledge in conducting a basic Benefit: Cost Analysis.

What's next after this course?

This 2 Professional Development Points micro-credential is building off of the previous course (Applied Benefit: Cost Analysis - The Essentials, SCIEM 521) and is the foundation for a more advanced Applied Benefit: Cost Analysis - Practical Issues course, SCIEM 523 (to a total 6 Professional Development Points) for unspecified academic credit towards a relevant course at UWA If you enroll in all three of these course, a 50% discount is available for the third course.

Apply

Applications are open.

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