The past decade has seen increased attention to cost-effectiveness and benefit-cost analysis in education as administrators are being asked to accomplish more with the same or even fewer resources, philanthropists are keen to calculate their "return on investment" in social programs, and the general public is increasingly scrutinizing how resources are allocated to schools and colleges. Economic Evaluation in Education: Cost-Effectiveness and Benefit-Cost Analysis (titled Cost-Effectiveness Analysis: Methods and Applications in its previous editions) is the only full-length book to provide readers with the step-by-step methods they need to plan and implement a benefit-cost analysis in education. Authors Henry M. Levin, Patrick J. McEwan, Clive Belfield, Alyshia Brooks Bowden, and Robert Shand examine a range of issues, including how to identify, measure, and distribute costs; how to measure effectiveness, utility, and benefits; and how to incorporate cost evaluations into the decision-making process. The updates to the Third Edition reflect the considerable methodological development in the evaluation literature, and the greater empiricism practiced by education researchers, to help readers learn to apply more advanced methods to their own analyses.

This primer highlights both the strengths and the limitations of benefit-cost analysis in the development, design, and implementation of regulatory reform.

Cost-benefit Analysis of Environmental Health Interventions clearly articulates the core principles and fundamental methodologies underpinning the modern economic assessment of environmental intervention on human health. Taking a practical approach, the book provides a step-by-step approach to assigning a monetary value to the health benefits and disbenefits arising from interventions, using environmental information and epidemiological evidence. It summarizes environmental risk factors and explores how to interpret and understand epidemiological data using concentration-response, exposure-response or dose-response techniques, explaining the environmental interventions available for each environmental risk factor. It evaluates in detail two of the most challenging stages of Cost-Benefit Analysis in 'discounting' and 'accounting for uncertainty'. Further chapters describe how to analyze and critique results, evaluate potential alternatives to Cost-Benefit Analysis, and on how to engage with stakeholders to communicate the results of Cost-Benefit Analysis. The book includes a detailed case study how to conduct a Cost-Benefit Analysis. It is supported by an online website providing solution files and detailing the design of models using Excel. - Provides a clear understanding of the core theory of cost-benefit analysis in environmental health interventions - Provides practical guidance using real-world case studies to motivate and expand understanding - Describes the challenging 'discounting' and 'accounting for uncertainty' problems at chapter length - Supported by a practical case study, online solution files, and a practical guide to the design of CBA models using Excel

Throughout the text of this introduction to benefit cost analysis, emphasis is on applications, and a worked case study is progressively undertaken as an illustration of the analytical principles in operation. The first part covers basic theory and procedures. Part Two advances to material on internationally tradeable goods and projects that affect market prices, and part Three introduces special topics such as the treatment of risk and uncertainty, income distributional effects and the valuation of non-marketed goods. Instructors' resource web site: http://www.uq.edu.au/economics/bca

Many books instruct readers on how to use the tools of policy analysis. This book is different. Its primary focus is on helping readers to look critically at the strengths, limitations, and the underlying assumptions analysts make when they use standard tools or problem framings. Using examples, many of which involve issues in science and technology, the book exposes readers to some of the critical issues of taste, professional responsibility, ethics, and values that are associated with policy analysis and research. Topics covered include policy problems formulated in terms of utility maximization such as benefit-cost, decision, and multi-attribute analysis, issues in the valuation of intangibles, uncertainty in policy analysis, selected topics in risk analysis and communication, limitations and alternatives to the paradigm of utility maximization, issues in behavioral decision theory, issues related to organizations and multiple agents, and selected topics in policy advice and policy analysis for government.

Benefit-cost analyses hold great promise for influencing policies related to children, youth, and families. By comparing the costs of preventive interventions with the long-term benefits of those interventions, benefit-cost analysis provides a tool for determining what kinds of investments have the greatest potential to reduce the physical, mental, and behavioral health problems of young people. More generally, the growth of benefit-cost analysis as a field of research and practice represents an exciting and promising trend in the development and implementation of public policies. The utility of benefit-cost analyses has been limited by a lack of uniformity in the methods and assumptions underlying these studies. For years, those who perform and those who use benefit-cost analyses have argued that the development and use of theoretical, technical, and reporting standards for benefit-cost analyses would enhance the validity of results, increase comparability across studies, and accelerate the progress of the field. Considerations in Applying Benefit-Cost Analysis to Preventive Interventions for Children, Youth, and Families is the summary of a workshop convened by the Board on Children, Youth, and Families of the Institute of Medicine and the National Research Council in November 2013 as the first phase of a possible two-part effort directed toward guiding future benefit-cost studies and enhancing the relevance of benefit-cost analysis to governments and other organizations wanting to make sound prevention decisions. The workshop brought together leading practitioners in the field, researchers who study the methodological and analytic dimensions of benefit-cost analysis, and representatives of organizations that use the results of benefit-cost analyses to shape and implement public policies. This report discusses a wide range of issues about benefit-cost analysis, including the level of research rigor that should be met before results from an evaluation are used to estimate or predict outcomes in a cost-benefit analysis; best practices and methodologies for costing prevention interventions; prevention outcomes that currently lend themselves to monetization; processes and methodologies that should be used when linking prevention outcomes to avoided costs or increased revenues; and best methods for handling risk and uncertainty in estimates.

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