Evaluation Research (Session 4): Cost-benefit Analysis

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Session 4: Cost-benefit Analysis

This session will explore the theoretical and practical issues surrounding the quantification of evaluations using the Cost-Benefit Analysis technique; the session will review the theoretical frameworks for developing CBA studies and the various measurement issues surrounding operationalization of a study including (but not limited to) leakage, control selections, measuring additionality, the use of revealed versus stated preference valuations, and more. Additionally the session will both conduct and review an in-class exercise on important financial and economic techniques for conducting CBA studies including the selection of appropriate valuation models, the incorporation of inflation and time discounting, and actual calculations for CBA. Finally, the session will have students develop a CBA study for a practical situation to illustrate important real-world considerations.

This is the fourth of six sessions on the advanced, three day course 'Evaluation Research'.

The course is offered as part of the Social Science Research Methods Centre training programme and the ESRC Advanced Training Network. Students may attend all of the course or book for individual sessions.

If you intend to follow the entire course you must make a separate booking for each of the six sessions.

The training as a whole will introduce students to the basic general concepts that underlie evaluation research. Topics covered include basic theory, cost-benefit analysis, additionality, time discounting, net-present value, valuation techniques, evaluation design, the use of evidence in policy evaluation and more.

Appropriate for graduate students who have no prior training in evaluation and for experienced students who want to acquire specialized skills and knowledge in evaluation.

• University of Cambridge computer login access
• Access to the SSRMC CamTools site

Each session will be appropriate for graduate students who have no prior training in evaluation and for experienced students who want to acquire specialized skills and knowledge in evaluation.

To gain maximum benefits from the course it is important that students do not see this course in isolation from other MPhil courses or research training they are taking.

Responsibility lies with each student to consider the potential for their own research using methods common in fields of the social sciences that may seem remote. Ideally this task will be facilitated by integration of the SSRMC with discipline-specific courses in their departments and through reading and discussion.

Number of sessions: 1

For the course as a whole:

• That students obtain a thorough overview of evaluation research
• That those students who have attended all sessions have a strong basis with which to conduct evaluation research themselves or to apply these skills in a professional position.

For the course as a whole:

• To introduce students to the basic general concepts that underlie evaluation research
• To move towards advanced evaluation theory, design and methodology

Presentations, demonstrations and practical exercises

For Session 4:

• Fujiwara, D. and Campbell, R. (2011) Valuation Techniques for Social Cost-Benefit Analysis: Stated Preference, Revealed Preference, and Subjective Well-Being Approaches. HM Treasury.

No textbook is used, however the following are given as recommended background texts:

• The Green Book: Appraisal and Evaluation in Central Government. HM Treasury. 2003.
• Fujiwara, D. and Campbell, R. (2011) Valuation Techniques for Social Cost-Benefit Analysis: Stated Preference, Revealed Preference, and Subjective Well-Being Approaches. HM Treasury

For the course as a whole:

• One written submission on major course themes
• One written submission on evaluation design and application

The course is designed to give a thorough overview of evaluation research. Students who have attended all sessions should have a strong basis with which to conduct evaluation research themselves or to apply these skills in a professional position.

To gain maximum benefits from the course it is important that students do not see this course in isolation from other MPhil courses or research training they are taking

Responsibility lies with each student to consider the potential for their own research using methods common in fields of the social sciences that may seem remote. Ideally this task will be facilitated by integration of the SSRMC with discipline-specific courses in their departments and through reading and discussion.

Refreshments are available locally but are not included.

3 hours (including a break)

Once in 2013/14