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 Alumni Profile: Megan Sanders, MPP’24 Mon., April 14, 2025 Alumni Profile: Brendon Krall, MPP’23 Thu., April 10, 2025 How Trump tariff whiplash could affect Illinois families and industry Wed., April 09, 2025 Upcoming Events More events Get to Know Harris Credential Programs! A Virtual Information Session Tue., April 15, 2025 | 12:00 PM Credential Programs Roundtable with Senior Associate Dean Ranjan Daniels Tue., April 15, 2025 | 7:30 PM Harris Campus Visit Wed., April 16, 2025 | 9:30 AM Harris School of Public Policy - The Keller Center The University of Chicago 1307 E. 60th St Chicago, IL 60637 United States