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ECON 4120 Applied Welfare Econ & Cost Benefit Analysis Memorial University of Newfoundland

ECON 4120 Applied Welfare Econ & 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. The Prof:. Rober Martinez-Espineira “Rober”

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ECON 4120 Applied Welfare Econ & Cost Benefit Analysis Memorial University of Newfoundland

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  1. ECON 4120Applied Welfare Econ & Cost Benefit AnalysisMemorial University of Newfoundland Chapter 0 Organization session

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

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

  4. The Prof: • Office hours (posted on-line and on my office door): TUE 2:00-3:30 and 5:00-6:00 THU 1:30-3:30 or by appointment

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

  6. 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

  7. 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 of the 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

  8. The textbooks • Boardman, Anthony E., David H. Greenberg, Aidan R. Vining, and David L. Weimer. Cost-Benefit Analysis: Concepts and Practice. 3rd ed., (Upper Saddle River, NJ: Pearson Prentice Hall, 2006)

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

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

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

  12. 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

  13. 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!

  14. The grading system • 2 quizzes 25% (Your worst quiz will be 10% and the best quiz will be 15%) • Home assignments 15% • Essay 15% • Final exam 45% 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 10% per day up to the day when the solutions are posted.

  15. Questions? • Any questions? • Any suggestions? • Any complaints?

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

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