Singapore University of Social Sciences

Cost-Benefit Analysis and Sustainability

Cost-Benefit Analysis and Sustainability (ECO302)

Applications Open: 01 May 2024

Applications Close: 15 June 2024

Next Available Intake: July 2024

Course Types: Modular Undergraduate Course

Language: English

Duration: 6 months

Fees: $1391.78 View More Details on Fees

Area of Interest: Business Administration

Schemes: Alumni Continuing Education (ACE)

Funding: To be confirmed

School/Department: School of Business


Synopsis

ECO302 Cost-Benefit Analysis and Sustainability addresses environmental issues using economic frameworks, and covers the analytical tool of Cost-Benefit Analysis (CBA). Within which, students will learn the steps of conducting CBA, such as valuation methods of travel cost method, contingent valuation method, and hedonic pricing method. While CBA’s objective is economic efficiency, adjustments for equity and uncertainty are also considered. The course will also cover sustainability issues, including its relation to energy: energy and firm/market structures, modelling energy demand and supply, and what it means for the macroeconomy.

Level: 3
Credit Units: 5
Presentation Pattern: Every July

Topics

  • Externalities, market failures, and the environment
  • Environmental policy interventions
  • The steps of Cost-Benefit Analysis (CBA)
  • Concepts of benefits and costs
  • Valuation using revealed preference approaches
  • Valuation using stated preference approaches
  • Temporal discounting in CBA, and investment decision criterion
  • Equity and uncertainty concerns in CBA
  • Notions of sustainability
  • Energy and market structure
  • Modelling energy demand and supply
  • Energy and the macroeconomic implications

Learning Outcome

  • Propose economic and command-and-control policy instruments for environmental problems
  • Discuss the strengths and limitations of Cost-Benefit Analysis, including of various valuation methods and strategies to deal with uncertainty
  • Distinguish between the concepts of sustainability
  • Examine environment issues using analytical frameworks of marginal costs and benefits, and damage schedules and abatement costs
  • Appraise the total economic impacts of projects using the steps of Cost-Benefit Analysis
  • Infer the demand and supply of energy, in relation to market structures, and its macroeconomic implications
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