Chapter 0

Organization session

ECON 4120Welfare Economics & Cost Benefit Analysis Memorial University of Newfoundland

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”

email: rmartinezesp@mun.ca

AA 3087

E-mail only from your MUN account!!!

The Prof: Office hours (posted on-line and on my office

door):

TUE 1:30 to 4:30, 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