ECON 6012 Cost Benefit Analysis Memorial University of Newfoundland Chapter 0 Organization session

INTRODUCTION The prof The students The material The textbooks The aids The way to do it right! The grading

Rober Martinez-Espineira The Prof: Rober Martinez-Espineira “Rober” email: rmartinezesp@mun.ca AA 3087 E-mail only from your MUN account!!!

Office hours (posted on-line and on my office door): The Prof: Office hours (posted on-line and on my office door): TUE 1:30 to 4:00, WED 12:45 to 13:45 or by appointment

The students Names? Why are you here? What are you going to do next? When did you take Microeconomics last?

The objectives Cost Benefit Analysis Improving your knowledge about Welfare Economics and the ethical and normative foundations of Economics To equip you with the skills needed to interpret and advise on basic cost-benefit analysis To improve your capacity to critically assess instances of public policy

The objectives understand the principles behind the theory of market failure and its regulation interpret basic empirical examples of cost-benefit analysis and communicate the results to stakeholders critically assess the advantages and limitations of using cost-benefit analysis to inform public policy determine when a cost benefit analysis may be performed in a meaningful way perform basic project analyses identify limitations in modeling assumptions, data, or political concerns that may compromise the validity of a cost-benefit analysis study

The textbooks Boardman, Anthony E., David H. Greenberg, Aidan R. Vining, and David L. Weimer. Cost-Benefit Analysis: Concepts and Practice. 4th ed., (Upper Saddle River, NJ: Pearson Prentice Hall, 2011)

The textbooks We will use other books from time to time and suggest additional readings

The aids course outline and online course schedule on website PowerPoint presentations and or class notes online Home assignments

The aids Check your e-mails and website frequently We will be working little by little but continuously There will be frequent assignments

The way to get it right Reading the chapters before coming to class Taking useful notes in class or annotating over the printouts from my website Going back to the book and the readings after the class Coming to see me to solve doubts Doing the home assignments

The way to get it right There is no way to pass this on swoting Trying to catch up on the last two weeks is not going to work The way to understanding the material is by doing the reading as we learn it Ask me if you need help!

The grading system If you miss a quiz, the weight will be reallocated towards the final exam. Late submissions of assignments will be penalized at the rate of 5% per day

Questions? Any questions? Any suggestions? Any complaints?

NEXT Introduction to CBA and Welfare Economics Get the book and read the first chapter