Module Code - Title:
EC4078
-
ECONOMIC EVALUATION METHODS
Year Last Offered:
N/A
Hours Per Week:
Grading Type:
N
Prerequisite Modules:
Rationale and Purpose of the Module:
This module equips students with the essential analytical tools to evaluate whether economic resources are being utilised efficiently and effectively. Blending rigour with real-world relevance, it teaches methods such as cost-benefit analysis; cost-consequences analysis ;budget impact analysis; cost-effectiveness; multi-criteria analysis. It will cover productivity analysis and introduce cutting-edge programme evaluation tools such as difference-in-differences and regression discontinuity design.
Syllabus:
Introduction to the concept economic evaluation; Value for money studies; Cost benefit analysis; Budget Impact Analysis; Cost effective analysis; Multi criteria Analysis; Efficiency analysis (TFP/labour productivity); Programme Evaluation methods
Learning Outcomes:
Cognitive (Knowledge, Understanding, Application, Analysis, Evaluation, Synthesis)
On successful completion of this module, students will be able to:
Describe the assumptions and applications of different economic evaluation methods
Analyse the use of efficiency analysis in decision making
Critically discuss various economic evaluation methods
Acknowledge the limitations that economic evaluation methods may have in addressing certain policy or private sector decisions
Demonstrate an understanding of different evaluation methods commonly used in economics
Affective (Attitudes and Values)
On successful completion of this module, students will be able to:
Affirm the importance of evidence‑informed and ethically responsible decision‑making when evaluating the efficiency and effectiveness of resource allocation.
Psychomotor (Physical Skills)
N/A
How the Module will be Taught and what will be the Learning Experiences of the Students:
The module is delivered through a combination of lecture and tutorial contact hours, as well as private study hours. Each lecture will be a mixture of multimedia presentations on key assumptions and applications relating to different evaluation methods. Discussions of recent applications, research papers or case studies related to economic evaluation methods are incorporated into the module. Tutorials are dedicated to proving students with a platform for greater discussion of the module content. The University of Limerick Graduate Attributes will be developed by: Developing students' curiosity through an encouragement of critical thinking and a deepening of knowledge relating to the evaluation of use of economic resources; emphasising student's responsibility to organise their time in an efficient manner and to work to specific deadlines.
Prime Texts:
Boardman, A.E., Greenberg, D.H., Vining, A.R. and Weimer, D.L. (2018)
Cost-benefit analysis: concepts and practice. 5th edn
, Cambridge University Press
Other Relevant Texts:
Huntington-Klein, N. (2021)
The Effect: an introduction to research design and causality
, Chapman and Hall
Drummond, M.F., Sculpher, M.J., Claxton, K., Stoddart, G.L. and Torrance, G.W. (2015)
Methods for the economic evaluation of health care programmes. 4th edn
, Oxford University Press
Programme(s) in which this Module is Offered:
BACHELOR OF BUSINESS STUDIES
Semester(s) Module is Offered:
Spring
Module Leader:
Darragh.Flannery@ul.ie