Economics, Economic Evaluation, Second Cycle, 7.5 credits

Aims and objectives

General aims for second cycle education

Second-cycle courses and study programmes shall involve the acquisition of specialist knowledge, competence and skills in relation to first-cycle courses and study programmes, and in addition to the requirements for first-cycle courses and study programmes shall

• further develop the ability of students to integrate and make autonomous use of their knowledge
• develop the students' ability to deal with complex phenomena, issues and situations, and
• develop the students' potential for professional activities that demand considerable autonomy, or for research and development work.

(Higher Education Act, Chapter 1, Section 9)

Course objectives

After the course the student will

• Know how societal effects can be identified, measured and valued as a basis for decision about investment, regulation or programe selection.
• Understand the content of and difference between different types of economic evaluation methods and how they can be used.
• Be able to plan, conduct and communicate a societal economic evaluation.
• Be able to value and critically review the results from economic evaluations and discuss their usability as ground for decision making.

Main content of the course

The course starts with an introduction to "impact investment", that is investemt where societal impact is considered alongside financial return and risk. Next comes a short introduction to causal inference, followed by a thorough study of cost benefit and cost utility analysis. A number of complex issues that arise in practical implementation are further studies, such as valuation of health, safety and environmental impacts, choice of investment horizon, rate of discount and risk premium, issues that are related to economic theory, behavioural science, econometric analysis and ethics/philosophy.

The main moments of the course are

• Impact investment
• Basics of causal inference
• Cost-benefit and cost-utility analysis
• Valuation of non-market-priced services
• Rate of discount, risk
• Doing and discussing an economic evaluation study.

Teaching methods

Teaching is done in the form of lectures and laboratory sessions.

Students who have been admitted to and registered on a course have the right to receive tuition and/or supervision for the duration of the time period specified for the particular course to which they were accepted (see, the university's admission regulations (in Swedish)). After that, the right to receive tuition and/or supervision expires.

Examination methods

Written Examination, 6 credits (Code: A001)
Individual written examination.

Assignment, 1.5 credits (Code: A002)
Written assignment to be performed either in pair or individually.

For students with a documented disability, the university may approve applications for adapted or other forms of examinations.

For further information, see the university's local examination regulations (in Swedish).

Grades

According to the Higher Education Ordinance, Chapter 6, Section 18, a grade is to be awarded on the completion of a course, unless otherwise prescribed by the university. The university may prescribe which grading system shall apply. The grade is to be determined by a teacher specifically appointed by the university (an examiner).

In accordance with university regulations regarding grading systems for first and second-cycle courses (Vice-Chancellor’s decision ORU 2018/00929), one of the following grades shall be used: Fail (U), Pass (G) or Pass with Distinction (VG). For courses that are included in an international Master’s programme (60 or 120 credits) or offered to the university’s incoming exchange students, the grading scale of A-F shall be used. The vice-chancellor, or a person appointed by the vice-chancellor, may decide on exceptions from this provision for a specific course, if there are special grounds.

Grades used on course are Fail (F), Sufficient (E), Satisfactory (D), Good (C), Very Good (B) or Excellent (A).

Written Examination
Grades used are Fail (F), Sufficient (E), Satisfactory (D), Good (C), Very Good (B) or Excellent (A).

Assignment
Grades used are Fail (F), Sufficient (E), Satisfactory (D), Good (C), Very Good (B) or Excellent (A).

For further information, see the university's local examination regulations (in Swedish).

Comments on grades

To obtain a passing grade for the course as a whole, a minimum of grade E is required for all components on the course. To arrive at a course grade, the grades awarded for each examination assignment, grades A-E, are first converted to the numerical values 5-1. An average value is then calculated, also taking into account the number of credits for each examination assignment in relation to the total number of credits for the course. The course grade is thus awarded by means of a weighted average of the examination assignments included on the course.

Specific entry requirements

First-cycle courses of 75 credits in Economics including an independent project of 15 credits as well as Statistics, Basic Course, 15 credits. Or first-cycle courses of 75 credits in Business Administration including an independent project of 15 credits as well as Statistics, Basic Course, 15 credits and Economics, Basic Course, 30 credits. The applicant must also have qualifications corresponding to the course "English 6" or "English B" from the Swedish Upper Secondary School.

For further information, see the university's admission regulations (in Swedish).

Transfer of credits for previous studies

Students who have previously completed higher education or other activities are, in accordance with the Higher Education Ordinance, entitled to have these credited towards the current programme, providing that the previous studies or activities meet certain criteria.

For further information, see the university's local credit transfer regulations (in Swedish).

Other provisions

The course will be given in English.

Reading list and other teaching materials

Required Reading

Boardman, Anthony E., David H. Greenberg, Aidan R. Vining & David L. Weimer (latest edition)
Cost-Benefit Analysis. Concepts and Practice
Cambridge University Press

Additions and Comments
Journal papers and parts of reports will be added.