Teaching Benefit-Cost Analysis
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Teaching Benefit-Cost Analysis

Tools of the Trade

Edited by Scott Farrow

Teaching Benefit-Cost Analysis provides detail and inspiration that extends and clarifies standard textbooks. Each short, self-contained module includes guidance to additional sources while many also provide class exercises. Classes for advanced undergraduates, practitioners, or Masters students could especially apply these tools of the trade.
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Chapter 7: The essentials: A short course for young professionals

Gelsomina Catalano and Massimo Florio

Abstract

In the contest of the European Regional Policy, benefit-cost analysis (BCA) is explicitly required, amongst other elements, as a basis for decision making on the co-financing of major projects by the European Structural and Investment Funds (ESIF). How to teach the principles and applications of BCA in an intensive short course (one week) targeted to an audience of civil servants and young professionals with a range of backgrounds (economics, public administration and others) from different countries? The content of this chapter is motivated by the experience gathered by the team of the University of Milan and Centre for Industrial Studies (CSIL) in seven editions of a summer school on BCA and other training courses. The objective is to distill some lessons learned from this experience.

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