Course # 58102 Section Number 1 Day(s) Tu Time(s) 6:00pm-8:50pm Term Spring 2025 Course Instructor Robert Kaestner Syllabus Syllabus 2/24/25 Harris EMP Students Only. The goal of Economic Analysis II is to continue the analysis of microeconomics with an emphasis on understanding cost benefit analysis. Cost-benefit analysis (CBA) is the primary tool used to provide quantitative evidence to inform public policy decisions. Ideally, CBA will improve the efficiency of public policy by identifying public policies/projects that create the most “value” for society. The concept of CBA is easily understood. For any project/policy under consideration (versus current state of the world), do the following: add up all of the current and future monetary costs of the project/policy; add up all of the current and future monetary benefits of the project/policy; and then compare the benefits to costs. If benefits are greater than costs, then the project/policy is candidate to be implemented. Seems straightforward, right? Conceptually it is pretty straightforward, although there are some thorny theoretical and philosophical issues that arise. The conceptual difficulties, while important, are few in comparison, however, to the practical difficulties associated with conducting a CBA. This course will review the theoretical/conceptual foundations of CBA as applied in the public sector. The course will also review some of the philosophical issues central to the validity of CBA and practical difficulties in conducting CBA. Notes Harris EMP students only. Course Prerequisite Harris part-time students only (PPPT-MA plan only) Quarter Title Instructor Day(s) Time(s) Syllabus Spring 2025 Economic Analysis II: Introduction to Cost Benefit Analysis Robert Kaestner Tuesday 6:00pm-8:50pm Syllabus Recent News More news University of Chicago’s Harris School of Public Policy and Institute for Climate and Sustainable Growth Launch New Pathbreaking Master’s Program in Climate and Energy Policy Tue., July 08, 2025 Provost Katherine Baicker Appointed Emmett Dedmon Distinguished Service Professor Thu., July 03, 2025 Alumni Profile: Daisuke Kageyama, MPP'23 Thu., June 26, 2025 Upcoming Events More events Get to Know Harris! A Virtual Information Session Wed., July 09, 2025 | 8:30 AM Harris Alumni Roundtables in Washington, DC: Transitions between public and private sector roles Wed., July 09, 2025 | 8:30 AM Office of Federal Relations 1730 Pennsylvania Ave NW Washington, DC 20006 United States Harris Summer Mixer in Washington, DC: Cultivating Policy Connections Thu., July 10, 2025 | 5:00 PM Harris Summer Mixer in Washington, DC: Cultivating Policy Connections Office of Federal Relations 1730 Pennsylvania Ave NW Washington,, DC 20006 United States