UWA PLUS
Applied Benefit: Cost Analysis – Practical Issues [SCIEM523]
Benefit: Cost Analysis is one of the most important and widely used tools of economics. It supports improved decision making about projects and policies by providing a systematic, logical, transparent, and consultative approach to evaluating and prioritising them.
This micro-credential is for students who have some existing knowledge of Benefit: Cost Analysis, including knowledge of the essential concepts and methods used (e.g., through having completed SCIEM521) and knowledge of how to estimate and calculate the monetary values of various types of project benefits (e.g., through having completed SCIEM522). In this micro-credential, students develop their skills in applying the technique in practical situations.
Challenges in completing a Benefit: Cost Analysis are presented and strategies for overcoming those challenges are provided. It covers a variety of practical issues, including obtaining the required information, representing project risks, handling uncertainty, conducting sensitivity analysis, reporting results and avoiding traps and errors.
The objective is for graduates from the course to be fully equipped to apply Benefit: Cost Analysis to real projects.
Upon successful completion of this micro-credential, you'll receive:
- Two PD Points
- A Certificate of Achievement
- A UWA Plus Professional Development Transcript, listing all successfully completed micro-credentials
- Delivery mode
- Online
- Course dates
- 24 February 2025 - 26 May 2025 OR
- 21 July 2025 - 20 October 2025
- To discuss the option of a self-paced version of the course, contact the course coordinator, [email protected]
- Registrations close
- 17 February 2025 OR
- 14 July 2025 Duration
- 4 weeks
- Effort
- 50 hours
- Lectures: 8 x 45-minute online lectures
Workshops: 4 x 1-hour online workshops
Self-directed learning: 40 hours - Academic lead
- David Pannell
- Cost
- $440 inc. GST
- Enrol in all three Applied Benefit: Cost Analysis micro-credentials and receive a 25% discount.
A 25% discount is also available for bulk enrolments (5 or more).
Generous bursaries are available for students from developing countries. Contact [email protected] for details. - Critical information summary
- SCIEM523 Applied Benefit: Cost Analysis (PDF 243KB)
What you'll learn
Know how to obtain information for conducting a Benefit: Cost Analysis
Know how to avoid a range of traps and errors when conducting a Benefit: Cost Analysis
Know how to represent practical complexities in a Benefit: Cost Analysis spreadsheet
Conduct an informative sensitivity analysis of a Benefit: Cost Analysis
Demonstrate knowledge and skills in avoiding traps and complex practical issues in conducting a Benefit: Cost Analysis of a project or policy
Prepare a effective report for decision makes based on a Benefit: Cost Analysis
Why study this course?
You will learn from Professor David Pannell who has delivered dozens of BCA training courses, developed widely used BCA software and advised many national and international agencies.
On completion of this flexible and global recognised course, you'll walk away with:
- Knowledge of the key practical issues, risks, traps and errors in conducting a Benefit: Cost Analysis
- An action plan to address the practical issues
- Strategies to handle uncertainty in a Benefit: Cost Analysis for a project or policy
- Skills and knowledge that can help you further your career.
- A digital certificate of achievement, a Professional Development Transcript from the University of Western Australia, listing all successfully completed micro-credentials. Your Professional Development Points may be converted to academic credit towards undergraduate or postgraduate courses
Who should study this course
This course is for you if:
- You are looking to find jobs related to economic evaluation, specifically in conducting a BCA
- You want to expand your knowledge of key practical challenges in conducting a Benefit: Cost Analysis
- You want to conduct an informative sensitivity analysis of a Benefit: Cost Analysis
- You are looking to interpret and communicate with stakeholders and experts regarding the inputs to and results from a Benefit: Cost Analysis
Recommended prior knowledge
- No existing knowledge of economics is required
- No textbook required - all course materials provided
- Suitable for learners who have completed the micro-credential SCIEM521 Applied: Benefit: Cost Analysis - The Essentials and SCIEM 522 - Measuring Benefits, or who have equivalent knowledge in conducting a Benefit: Cost Analysis.
What's next after this course?
This micro-credential (worth two Professional Development Point) is aligned with the other two previous micro-credential courses, including Applied Benefit: Cost Analysis - the essentials, SCIEM 521 and Applied Benefit: Cost Analysis -Measuring the Benefits, SCIEM 522 (to a total 6 Professional Development Points) for unspecified academic credit towards a relevant course at UWA. If you enrol in all three of these course, a 25% discount is available.