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CE50004: IEM Cost benefit analysis

Follow this link for further information on academic years Academic Year: 2014/5
Further information on owning departmentsOwning Department/School: Department of Chemical Engineering
Further information on credits Credits: 6
Further information on unit levels Level: Masters UG & PG (FHEQ level 7)
Further information on teaching periods Period: Modular (no specific semester)
Further information on unit assessment Assessment Summary: CW 100%
Further information on unit assessment Assessment Detail:
  • Assignment 1 (CW 25% - Qualifying Mark: 40)
  • Assignment 2a (CW 25% - Qualifying Mark: 40)
  • Assignment 2b (CW 50% - Qualifying Mark: 40)
Further information on supplementary assessment Supplementary Assessment: Like-for-like reassessment (where allowed by programme regulations)
Further information on requisites Requisites:
Further information on descriptions Description: Distance learning Unit (IEM). Aims:
The aim is to advance student understanding of the economic principles and analytical techniques behind CBA, and best practises in conducting cost benefit analysis.

Learning Outcomes:
After successfully completing this unit students should be able to outline the economic principles underlying CBA and distinguish environmental CBA from traditional financial project appraisal. They should also be able to describe the rationale underlying each of the economic valuation techniques; outline the methodology of each technique and identify the main short comings associated with them. They should also be able to describe the economic basis of, and employ the investment decision criteria utilised by CBA; outline the issues associated with the choice of discount rate and identify the limits of environmental CBA. Finally, the students should be able to describe how the results of a CBA should be reported.

Skills:
This distance learning unit develops skills in self study, and use of spreadsheets.

Content:
Introducing CBA; financial project appraisal; willingness to pay and opportunity costs as measures of economic value; market imperfections (e.g. public goods and externalities); shadow pricing; total economic value; techniques employing actual market prices, surrogate market techniques, survey based techniques; determination of cash flows and investment criteria; discount rates; limitations of CBA; presenting and reporting CBA.
Further information on programme availabilityProgramme availability:

CE50004 is Compulsory on the following programmes:

Department of Chemical Engineering
Notes:
* This unit catalogue is applicable for the 2014/15 academic year only. Students continuing their studies into 2015/16 and beyond should not assume that this unit will be available in future years in the format displayed here for 2014/15.
* Programmes and units are subject to change at any time, in accordance with normal University procedures.
* Availability of units will be subject to constraints such as staff availability, minimum and maximum group sizes, and timetabling factors as well as a student's ability to meet any pre-requisite rules.