Course coordinator
Dr Pimrak Pakdeethai
Course overview
- Study period
- Semester 1, 2025 (24/02/2025 - 21/06/2025)
- Study level
- Postgraduate Coursework
- Location
- St Lucia
- Attendance mode
- In Person
- Units
- 2
- Administrative campus
- St Lucia
- Coordinating unit
- Economics School
Use of techniques of applied welfare economics & investment appraisal to undertake benefit/cost analysis of public & private sector projects, using spreadsheets.
Cost benefit analysis (CBA) underpins all implicit and explicit decision making. By undertaking this course students will develop the necessary skills and tools to evaluate the costs and benefits of decisions, projects or policies. More specifically, students will be able to: (1) determine if a project is justifiable by comparing the costs and the benefits, and (2) compare projects/policies to ensure optimal allocation of resources.
Throughout the duration of the course students will apply economic theories and concepts learnt from their prior studies to a CBA framework. ECON7740 will cover specific considerations such as the treatment of risk and uncertainty, externalities, and valuing non-market benefits and costs.ﾠ
ECON7740 will also discuss the intersection of politics, ethics, and methods of cost benefit analysis in the context of environmental, medical, health and public policy evaluations. Students are expected to engage in discussions relating to ethical and social understanding in this course, as well as completion of assessment in this area.ﾠ
The assessment design utilised in this course focuses onﾠstudentsﾠusing and applying knowledge and skills in real-life settings. Students will be introduced to the use of spreadsheets (Excel) in undertaking a cost-benefit analysis of a project. Basic Excel skills are assumed knowledge for this course.ﾠStudents are expected to apply CBA theory learnt during the course to anﾠadvancedﾠcase study as the final assessment in this course.
Course requirements
Assumed background
Proficiency in basic Excel spreadsheeting is highly recommended. Students are encouraged to review the Excel training resources provided by the library services found at: ﾠSoftware and training resources - Library - University of Queensland (uq.edu.au)
Microsoft Excel is required for this course. Students can access a free version of Office 365 here: ﾠOffice 365 for personal use - my.UQ - University of Queensland
Students are also expected to be familiar with various writing styles. Please refer to the following information provided by the library servicesﾠshould you have difficulties identifying the appropriate format: ﾠAssignment types - my.UQ - University of Queensland
Before enrolling in this course, you are advised that it is important to complete the prerequisite course(s) listed in this course profile. No responsibility will be accepted by UQ School of Economics, the Faculty of Business, Economics and Law or The University of Queensland for poor student performance occurring in courses where the appropriate prerequisite(s) has/have not been completed, for any reason whatsoever.
Prerequisites
You'll need to complete the following courses before enrolling in this one:
ECON2010 or 7000 or 7002 or 7010 or 7011
Incompatible
You can't enrol in this course if you've already completed the following:
ECON2101, ECON3220
Course contact
School enquiries
School Enquiries, School of Economics
All enquiries regarding student and academic administration (i.e. non-course content information, e.g., class allocation, timetables, extension to assessment due date, etc.) should be directed toﾠenquiries@economics.uq.edu.au.ﾠ
Enquiries relating specifically to course content should be directed to the Course Coordinator/Lecturer.
Course staff
Lecturer
Dr Pimrak Pakdeethai
Tutor
Mr Spencer Tong
Mr Md Khairul Hidayatullah Hj Basir
Miss Ada Zhu
Timetable
The timetable for this course is available on the UQ Public Timetable.
Additional timetable information
Tutorial Preferencing:
Students are required to submit assessment either prior or during their allocated tutorial. All students must enrol in a tutorial to receive these marks.ﾠStudents are required to submit assessment either prior or during their allocated tutorial.ﾠ
Lectures commence in Week 1.
Tutorials commence in Week 2.
Please see the Learning Activities section of this Course Profile for the timetabling implications of public holidays.
Important Dates:
· Public Holidays: Fri 18 April (Good Friday), Mon 5 May (Labour Day).
· Mid-Semester Break: 21 April - 25 April. Semester 1 classes recommence on Mon 28 April.
Students should refer to the timetable prior to the commencement of classes to ensure that they have the most up to date information, as from time to time late room changes may occur.
Aims and outcomes
This course provides students to engage in practical applications of cost benefit analysis. This course is intended to equipﾠstudents with advanced conceptual, analytical, and critical thinking skills to undertake a CBA.
Learning outcomes
After successfully completing this course you should be able to:
LO1.
Construct, interpret and evaluate CBA in a variety of real-world situations.
LO2.
Implement non-market valuation methods to correct market failures, including those of a social and/or intangible nature.
LO3.
Categorise and evaluate risk and uncertainty in decision-making within a CBA framework.
LO4.
Deconstruct and analyse distributional impacts of a policy or project on relevant stakeholders.
LO5.
Critically examine ethical and social perspectives of decision-making and its role in CBA.
Assessment
Assessment summary
| Category | Assessment task | Weight | Due date |
|---|---|---|---|
| Tutorial/ Problem Set | Tutorial Exercises | 10% (Best 8 of 11) |
Students can submit their attempt at the tutorial exercises prior or during to their "enrolled" tutorial. Any submission after the end of their enrolled tutorial session is considered late and do not receive marks. |
| Quiz |
Online Quizzes
|
30% (2 x 15%) |
due 3:00 pm, 2/04/2025 - 3/04/2025 due 3:00 pm, 21/05/2025 - 22/05/2025 |
| Presentation |
Pitch Deck Presentation (Group)
|
20% |
8/05/2025 3:00 pm |
| Reflection, Tutorial/ Problem Set | Indiv. Case Study in Applied Cost-Benefit Analysis | 40% |
10/06/2025 3:00 pm |
Assessment details
Tutorial Exercises
- Mode
- Activity/ Performance, Written
- Category
- Tutorial/ Problem Set
- Weight
- 10% (Best 8 of 11)
- Due date
Students can submit their attempt at the tutorial exercises prior or during to their "enrolled" tutorial. Any submission after the end of their enrolled tutorial session is considered late and do not receive marks.
Task description
Students will be required to submit solutions to Excel exercises, case studies and short-answer questions as specified in Blackboard. Weekly tutorial sessions begin in week 2. There will be 10 weekly tutorial session submissions for which you are expected to prepare and submit a set of fairly straight-forward Excel-based exercises in advance of each week's session. In each session a tutor will work through that week's exercise 'live' and, if time permits, cover a few other topics of relevance.
Students will receive up to 10% of the final mark through 'active participation' in these tutorial sessions. 'Active participation' requires students to submit their Excel exercises or word document via the link on the course website. At least 50% completion is required. Blank or less than 50% completed submissions do not receive marks.
Students can submit their attempt at the tutorial exercises prior or during to their "enrolled" tutorial. Any submission after the end of their enrolled tutorial session is considered late and do not receive marks. Note: the submission is not marked based on correct content. Students who submit prior to their tutorial should check the solutions when the solutions are released on Blackboard.
This assessment task evaluates students' abilities, skills and knowledge without the aid of generative Artificial Intelligence (AI). Students are advised that the use of AI technologies to develop responses is strictly prohibited and may constitute student misconduct under the Student Code of Conduct.
No late submissions or extensions will be accepted. Submissions via email will not be accepted.
Submission guidelines
Students must submit their Excel exercises or word document via the link on the course website. Submissions via email will not be accepted.
Deferral or extension
You cannot defer or apply for an extension for this assessment.
As this assessment item is best 8 out of 10, there is no extension.
Late submission
You will receive a mark of 0 if this assessment is submitted late.
No late submissions or extensions will be accepted.
Online Quizzes
- Online
- Mode
- Activity/ Performance
- Category
- Quiz
- Weight
- 30% (2 x 15%)
- Due date
due 3:00 pm, 2/04/2025 - 3/04/2025
due 3:00 pm, 21/05/2025 - 22/05/2025
- Other conditions
- Time limited.
Task description
Students are required to complete two (2) online quizzes covering both numerical and theoretical applications of CBA at regular intervals throughout the course. Each quiz is worth 15% each (total of 30% for the course).
· Each quiz can contain multiple choice, short answer or numerical questions.
· Students will have 120 minutes to complete each online quiz.
· The quizzes will be conducted in weeks 6 and 12.
Submission of the quizzes is via the Blackboard website. Details on the content of each quiz will be provided on the Blackboard website.
Access to Excel is required for the online quizzes. If you are not using a university computer, please ensure you add the UQ blackboard website and downloads to your "Trust Centre". Otherwise you may have difficulties opening or downloading files.
Access to each quiz on Blackboard will be blocked once the timer expires or as the quiz closes. A penalty of 100% will be applied for non-submission unless an extension has been granted. To apply for an extension, students must provide evidence (e.g., a medical certificate) that the late submission is beyond their control. The course coordinator will decide on the evidence presented whether a late submission will be accepted and whether penalty will be applied.
This assessment task evaluates students' abilities, skills and knowledge without the aid of generative Artificial Intelligence (AI). Students are advised that the use of AI technologies to develop responses is strictly prohibited and may constitute student misconduct under the Student Code of Conduct.
The online quizzes have a maximum extension of 3 days (including weekend days) to ensure timely feedback to other students.
Submission guidelines
Submission of the quizzes is via the Blackboard website. Details on the content of each quiz will be provided on the Blackboard website.
Deferral or extension
You may be able to apply for an extension.
The online quizzes have a maximum extension of 3 days (including weekend days) to ensure timely feedback to other students.
Late submission
You will receive a mark of 0 if this assessment is submitted late.
Access to each quiz on Blackboard will be blocked once the timer expires or as the quiz closes. A penalty of 100% will be applied for non-submission unless an extension has been granted.
Pitch Deck Presentation (Group)
- Identity Verified
- Team or group-based
- Mode
- Activity/ Performance, Product/ Artefact/ Multimedia
- Category
- Presentation
- Weight
- 20%
- Due date
8/05/2025 3:00 pm
- Other conditions
- Peer assessed, Peer assessment factor, Work integrated learning.
Task description
Students will work in groups to complete a Pitch Deck Presentation centred around a topic provided in week 5. The topic will be introduced by an Industry Expert in lecture 6. Groups must be 3 - 4 students.
A strict deadline for the creation of groups will be posted on Blackboard - no changes are allowed after this date regardless of circumstances. Once the deadline passes any students who have not joined a group will be automatically allocated.
The submission will be a video recording. All students must show their student ID on the first slide. All students must show their face clearly in the recording when speaking.
Group (3-4 students) Each student must present for a minimum of 1.5 minutes as part of the assessment task. The MAXIMUM acceptable recording length for a group of 3 students is 9 minutes. A group of 4 students is 10 minutes. No more than 12 slides. A penalty will be applied for exceeding or falling short of these limits and requirements.
Buddycheck will be used as part of this assessment. See task sheet for details. A deadline for completion will be provided on BB.
Slides must be submitted the PowerPoint slides via TurnItIn through the Online Submission link under the Assessment section of the Course Blackboard site. The presentation recording must be submitted via the Blackboard Assignment submission tool. Only one student needs to submit on behalf of the group. Students are responsible for ensuring ONE student from the group submits presentation slides and recording.
Artificial Intelligence (AI) and Machine Translation (MT) provides emerging tools that may support students in completing this assessment task. Students may appropriately use AI and/or MT in completing this assessment task. Students must clearly reference any use of AI or MT in each instance.
A failure to reference generative AI or MT use may constitute student misconduct under the Student Code of Conduct.
Submission guidelines
The submission will be a video recording AND a powerpoint slide deck. All students must show their student ID on the first slide. All students must show their face clearly in the recording when speaking.
must be submitted the powerpoint slides via Turnitin through the Online Submission link under the Assessment section of the Course Blackboard site. The presentation recording must be submitted via the Blackboard Assignment submission tool. Only one student needs to submit on behalf of the group. Students are responsible for ensuring ONE student from the group submits presentation slides and recording.
Deferral or extension
You cannot defer or apply for an extension for this assessment.
Late submission
A penalty of 10% of the maximum possible mark will be deducted per 24 hours from time submission is due for up to 7 days. After 7 days, you will receive a mark of 0.
Indiv. Case Study in Applied Cost-Benefit Analysis
- Mode
- Written
- Category
- Reflection, Tutorial/ Problem Set
- Weight
- 40%
- Due date
10/06/2025 3:00 pm
Task description
Students are required to complete a take-home case study assignment. Students will have two weeks to complete the assignment. The assignment will be released no later than 30 May.
The assignment will consist of a task worth 30% (spreadsheet and report) and a reflection worth 10% for a total of 40% of your final grade.
The assignment must be submitted electronically through the Online Submission link in the Assessment section of the Course Blackboard site.
Further details to be announced in Blackboard.
Artificial Intelligence (AI) and Machine Translation (MT) provides emerging tools that may support students in completing this assessment task. Students may appropriately use AI and/or MT in completing this assessment task. Students must clearly reference any use of AI or MT in each instance.
A failure to reference generative AI or MT use may constitute student misconduct under the Student Code of Conduct.
Submission guidelines
Blackboard
Deferral or extension
You may be able to apply for an extension.
The maximum extension allowed is 7 days. Extensions are given in multiples of 24 hours.
Late submission
A penalty of 10% of the maximum possible mark will be deducted per 24 hours from time submission is due for up to 7 days. After 7 days, you will receive a mark of 0.
Course grading
Full criteria for each grade is available in the Assessment Procedure.
| Grade | Cut off Percent | Description |
|---|---|---|
| 1 (Low Fail) | 0% - 29% |
Absence of evidence of achievement of course learning outcomes. |
| 2 (Fail) | 30% - 46% |
Minimal evidence of achievement of course learning outcomes. |
| 3 (Marginal Fail) | 47% - 49% |
Demonstrated evidence of developing achievement of course learning outcomes |
| 4 (Pass) | 50% - 64% |
Demonstrated evidence of functional achievement of course learning outcomes. |
| 5 (Credit) | 65% - 74% |
Demonstrated evidence of proficient achievement of course learning outcomes. |
| 6 (Distinction) | 75% - 84% |
Demonstrated evidence of advanced achievement of course learning outcomes. |
| 7 (High Distinction) | 85% - 100% |
Demonstrated evidence of exceptional achievement of course learning outcomes. |
Additional course grading information
A student’s final overall end of semester percentage mark will be rounded to determine their final grade. For example, 64.5% rounds to 65%, while 64.4% rounds to 64%.
Supplementary assessment
Supplementary assessment is available for this course.
Additional assessment information
Plagiarism
The School of Economics is committed to reducing the incidence of plagiarism. Further information on plagiarism and how to avoid an allegation of plagiarism is available in this course profile under Policies and Procedures. Please refer to the Academic Integrity Modules (AIM). It is strongly recommended that you complete the AIM if you have not already done so.
Use of AI in assessment. This task has been designed to be challenging, authentic and complex. Whilst students may use AI technologies, successful completion of assessment in this course will require students to critically engage in specific contexts and tasks for which artificial intelligence will provide only limited support and guidance. A failure to reference AI use may constitute student misconduct under the Student Code of Conduct. To pass this assessment, students will be required to demonstrate detailed comprehension of their written submission independent of AI tools.
Group Case Study Submission
- The group case study must be submitted electronically through the submission folder in the Assessment section of the course Blackboard site.
- For the groupwork section, only one submission is required. Please nominate ONE student to submit the assignment from your group. Ensure the details of all contributing students is at the top of the coversheet.
- For the individual reflection, each student must submit their own reflection.
- Students should keep a list of their team members' full names and contact details.
Referencing and Citing
APA is the required referencing style in this course.
Assignments must be substantially your own work. If you wish to report another author’s point of view you should do so in your own words, and properly cite the reference in accordance with the school style. Direct quotations should be used sparingly, form a small part of your work, and must be placed in quotation marks and duly referenced.
Any material taken from texts and other references, including electronic resources, CD‐ROMS, and the Internet, must be acknowledged using the accepted School style.
Students are encouraged to discuss issues that arise in this course together. However, the written work you submit must be entirely your own. Similarly, you must not help another student to cheat by lending assignments (present or past).
For more information on referencing styles, visit the library or see https://web.library.uq.edu.au/research-tool-techniques/referencing/referencing- style-guides
If you do not reference the materials used in your assignment correctly, you could be found guilty of academic misconduct. Please see this link for more information: http://www.uq.edu.au/myadvisor/academic‐integrity‐and‐ plagiarism
For more information on assessment, please review the UQ Assessment Policy at https://ppl.app.uq.edu.au/content/3.10.02‐assessment
Learning resources
You'll need the following resources to successfully complete the course. We've indicated below if you need a personal copy of the reading materials or your own item.
Library resources
Find the required and recommended resources for this course on the UQ Library website.
Learning activities
The learning activities for this course are outlined below. Learn more about the learning outcomes that apply to this course.
Filter activity type by
Please select
| Learning period | Activity type | Topic |
|---|---|---|
Week 1 (24 Feb - 02 Mar) |
Lecture |
Introduction to Social Cost Benefit Analysis The purpose of CBA, net social benefit, economic principles. |
Tutorial |
No Tutorials (Week 1) Tutorials start in Week 2. |
|
Week 2 (03 Mar - 09 Mar) |
Lecture |
Discounting and Decision Rules The basics of discounting - time preferences, calculating NPV, IRR and BCR, dealing with multiple time periods. |
Week 3 (10 Mar - 16 Mar) |
Lecture |
Discounting and Decision Rules (cont) Challenges of comparing NPV, IRR and BCRs including mid year and beginning of year discounting, comparing projects different lives, other complications in CBA. |
Week 4 (17 Mar - 23 Mar) |
Lecture |
Standing and Perspective in CBA Identifying who's benefits and costs matter, applying Market perspective and Investor perspective to CBA. |
Week 5 (24 Mar - 30 Mar) |
Lecture |
Predicting and Monetising Social Impacts 1 Kaldor-Hicks criterion, using markets to evaluate direct impacts of policies, evaluating impacts using consumer and producer surplus. |
Week 6 (31 Mar - 06 Apr) |
Lecture |
Predicting and Monetising Social Impacts 1 (cont) + Guest Speaker Predicting and monetising, benefit value transfers, when to use shadow prices and types of errors. |
Week 7 (07 Apr - 13 Apr) |
Lecture |
Social Perspective in CBA Shadow prices from distorted markets, implementing social CBA, evaluation of aggregate social CBA for decision making. |
Week 8 (14 Apr - 20 Apr) |
Lecture |
Disaggregated Social Cost Benefit Analysis Evaluation of standing, identification of distributional costs and benefits. |
No student involvement (Breaks, information) |
Good Friday Friday, April 18th is a Public Holiday. If your tutorial is scheduled for this day, please attend any of the other tutorials scheduled for the week. |
|
Mid-sem break (21 Apr - 27 Apr) |
No student involvement (Breaks, information) |
Mid Semester Break There will be no classes this week. |
Week 9 (28 Apr - 04 May) |
Lecture |
Ethical and Social Issues in CBA Cost benefit analysis as operationalised utilitarianism. |
Week 10 (05 May - 11 May) |
Lecture |
Dealing with Uncertainty and Sensitivity Analysis How big is a piece of string? Uncertainty and risk, expected value analysis, expected NPV, risk preferences and sensitivity analysis. |
Week 11 (12 May - 18 May) |
Lecture |
Predicting and Monetising Social Impacts 2 Total economic value, non-market goods and services in CBA, non-market valuation methods. |
Week 12 (19 May - 25 May) |
Lecture |
Predicting and Monetising Social Impacts 2 (cont) Further case study applications/ Environmental effects and non-market valuation. |
Week 13 (26 May - 01 Jun) |
Lecture |
Guidelines to Preparing a CBA report How to present and interpret results of CBA for decision-support: guidelines for writing of case study reports. |
Additional learning activity information
Tutorials start in Week 2.
Policies and procedures
University policies and procedures apply to all aspects of student life. As a UQ student, you must comply with University-wide and program-specific requirements, including the:
- Student Code of Conduct Policy
- Student Integrity and Misconduct Policy and Procedure
- Assessment Procedure
- Examinations Procedure
- Reasonable Adjustments - Students Policy and Procedure
Learn more about UQ policies on my.UQ and the Policy and Procedure Library.