Economic Policy Evaluation

The course comprises the following components: - welfare theory as the foundation of socio-economic evaluations: the Pareto criterion and Hicks-Kaldor criterion - econometric evaluation methods: calculating effects of measures on the basis of non-randomised observation data only - econometric evaluation methods: cost benefit analysis and cost effect analysis - defining and calculating of socio-economic cost - quantifying and measuring entities such as improved health and environment: direct evaluation methods, indirect evaluation methods, the value of statistical life, quality adjusted living years (QALYs) - uncertainty and option values in economic evaluation - discounting and handling cost and benefit for future generations - ethical problems: utilitarianism and the ethics of consequence The cours is based on applications derived from various areas of micro-economy, particularly those of health, environment and education.