Applied Benefit: Cost Analysis – The Essentials
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.
In this micro-credential, participants will learn the essential background knowledge and know how to apply Benefit: Cost Analysis in weighing explicit and implicit costs and benefits of a project or an investment program. Examples in this unit 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 all the foundation knowledge and core starting skills needed to conduct a Benefit: Cost Analysis themselves. As part of this, each participant will construct their own well-designed spreadsheet to do the required calculations, will use it to conduct a basic Benefit: Cost Analysis.
The academic objectives are to understand the concepts and principles that underpin Benefit: Cost Analysis and to learn how to apply it to evaluate real projects and policies.
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
- Start date
- 24 July 2023
- To discuss the option of a self-paced version of the course, contact the course coordinator, email@example.com
- Applications close
- 17 July 2023
- 4 weeks
- 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
- $440 inc. GST
- A 25% discount is available for bulk enrolments (5 or more) Generous bursaries are available for students from developing countries. Contact firstname.lastname@example.org for details.
- Critical information summary
- SCIEM521 Applied Benefit: Cost Analysis (PDF 243KB)
What you'll learn
Know key steps in conducting the benefit: cost analysis for a project or policy
Apply key theoretical and practical aspects of time and discounting for benefits and costs
Construct a spreadsheet to do the required calculations for a basic Benefit: Cost Analysis
Quantify the economic benefits and costs of a project or policy
Use suitable criteria for selecting projects
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:
- a comprehensive understanding of the essentials in conducting a Benefit: Cost Analysis, interpreting and reporting results to stakeholders and experts
- An action plan for quantifying the economic benefits and costs of a project or policy
- The ability to apply the essential skills and foundation knowledge about Benefit: Cost Analysis within your team and organization
- 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 advance your career paths, or boost your personal development, or broaden your skill set within your current role in your team and organization
- You want to quantify the benefits and costs of a project or policy across various sectors, industries and organisations
- You want to expand your knowledge of key theoretical and practical aspects of conducting a Benefit: Cost Analysis
- You want to construct a spreadsheet to do the required calculations for a Benefit: Cost Analysis
Reccommended prior knowledge
- No existing knowledge of economics is required
- No textbook required - all course materials provided
What's next after this course?
This micro-credential (worth two Professional Development Point) is stackable with the other two micro-credential courses, Applied Benefit: Cost Analysis - Measuring Benefits, SCIEM 522 and Applied Benefit: Cost Analysis - Practical Issues, SCIEM 523 (to 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.