ECM652-Economic Appraisal and Evaluation Methods

Module Provider: School of Politics, Economics and International Relations
Number of credits: 20 [10 ECTS credits]
Level:7
Terms in which taught: Autumn / Spring term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2023/4

Module Convenor: Dr Jade Siu
Email: j.siu@reading.ac.uk

Type of module:

Summary module description:

This module is concerned with the theory and application of key economic methods in appraisal and evaluation, e.g., of policy and interventions by governments. Strong emphasis is placed in the practical use of applied economics in the context of project appraisal and evaluation. The module will cover topics that relate economic evaluation in the context of efficiency and equity/distributional concerns, and will focus on methods and application in a range of sectors, such as health, environment, welfare, and transport, in both developed and developing countries.

Aims:

The aim of the module is to provide students with a solid understanding of the theory and application of the most relevant economic evaluation methods. Students will learn the ways in which economic evaluation can be applied to a range of policy issues.

Assessable learning outcomes:

The module will provide students with:

1. Knowledge of the differences between the key to economic evaluation methods and their relative merits


2. Knowledge of the approaches by which consider the most appropriate application of the methods


3. Knowledge of how to apply the most relevant methods to real world projects


4. Knowledge of how to interpret and critically assess economic evaluations

Additional outcomes:

Students will be able to draw connections between topics. They will be exposed to tools that are also useful to other modules, as well as applying techniques and drawing from material covered in other modules. Students will develop understanding and knowledge of key issues in a range of sectors, which are necessary to the application of sound project evaluation.

Outline content:

The module will cover:

• Introduction to types and methods of economic evaluation, including but not limited to: cost benefit analysis, cost effectiveness analysis, and social experiments


• The use of appraisal and evaluation in the policy process


• Modelling issues, but not limited to: how to measure costs and benefits, particularly practical approaches to value non market goods and services and externalities, how to consider distribution/equity issues, research design and data, impact calculations, control groups, counterfactual, and displacement effects.


• Practical applications in health, the environment, transport, social welfare, and the labour market

Global context:

The module will consider economic appraisal and evaluation from a range of perspectives and applied to different contexts.

Brief description of teaching and learning methods:

The module is delivered through a combination of lectures and seminars/classes. Pre-recorded material and other supplementary live activities may be used. Seminars and classes will focus on applications of the methods covered in the lectures and the tools employed to carry out economic evaluations. They will also give an opportunity to students to develop critical thinking and discuss issues in existing economic evaluations with one another. PC classes might also be used to develop skills in data analysis for economic evaluation.

Contact hours:

	Autumn	Spring	Summer
Lectures	10	10	2
Seminars	5	5
Guided independent study:
Wider reading (directed)	30	30
Preparation for seminars	25	25
Revision and preparation			18
Carry-out research project		40
Total hours by term	70	110	20
Total hours for module	200

Summative Assessment Methods:

Method	Percentage
Project output other than dissertation	60
Class test administered by School	40

Summative assessment- Examinations:

Summative assessment- Coursework and in-class tests:

The module is assessed through a class test and a project.

The former aims to test students’ knowledge of the topics covered in the lectures. It will count for 40% of the final mark and will be administered at the beginning of the Summer term.

Students will have to submit a project output of 3000-4000 words, containing an economic evaluation of a real-life issue, applying one of the tools learnt in the module. This is worth 60% of the module’s final mark.

Formative assessment methods:

Students will receive feedback on their project plans.

Penalties for late submission:

The below information applies to students on taught programmes except those on Postgraduate Flexible programmes. Penalties for late submission, and the associated procedures, which apply to Postgraduate Flexible programmes are specified in the policy 'Penalties for late submission for Postgraduate Flexible programmes', which can be found here: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/cqsd-old-site-documents/penaltiesforlatesubmissionpgflexible.pdf
The Support Centres will apply the following penalties for work submitted late:

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of five working days;
• where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

The University policy statement on penalties for late submission can be found at: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/cqsd-old-site-documents/penaltiesforlatesubmission.pdf
You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Assessment requirements for a pass:

A minimum mark of 50%.

Reassessment arrangements:

Re-assessment for all modules takes place in August/September of the same year.

Reassessment is by a synoptic piece of coursework testing all learning outcomes; this will not be a re-submission of earlier coursework, rather a new assignment will be set.

Additional Costs (specified where applicable):

1) Required text books: 

2) Specialist equipment or materials: 

3) Specialist clothing, footwear or headgear: 

4) Printing and binding: 

5) Computers and devices with a particular specification: 

6) Travel, accommodation and subsistence: 

Last updated: 5 September 2023