Prior knowledge of foundational microeconomics is required:

• The student is familiar with the law of supply and demand.
• The student masters the characteristics of market functioning and can apply them for different market forms.
• The student is familiar with the different market failures and how governments can intervene in a market.
• The student can place the government, an organisation and the consumer in the microeconomic context.
• The student is familiar with basic concepts such as utility maximization, opportunity costs, consumer and producer surplus, deadweight loss, pareto efficiency, and is able to apply such concepts in assignments.

The students should be familiar with basic descriptive statistics and understand regression analysis.

This concerns a transition curriculum. No contact sessions are provided. The student is only required to participate in the evaluation.

In this course, students learn to assess and evaluate the efficiency of policy measures. Economic valuation methods and approaches are used to select optimal projects or proposals for both private sector firms and public authorities. The focus will be on quantifying direct effects (employees, investments, time, safety, health, climate, etc.) on stakeholders both in- and outside private and public organizations. For these purposes, economic evaluation tools such as cost-benefit analysis, cost effectiveness analysis and multi-criteria analysis will be applied. The theoretical and practical advantages and disadvantages of these various methods will be discussed by means of practical examples. Furthermore, the extent to which the correct use of these methods contributes to the decision-making process of governments and private sector firms will be discussed. In addition, dealing with various types of uncertainties throughout the analysis will be discussed and will learn to use sensitivity analysis (e.g. Monte Carlo simulation).