ECM652: Economic Appraisal and Evaluation Methods

Module code: ECM652

Module provider: Economics; School of Philosophy, Politics and Economics

Credits: 20

Level: Postgraduate Masters

When you'll be taught: Semester 1 / 2

Module convenor: Dr Jade Siu, email: j.siu@reading.ac.uk

Pre-requisite module(s):

Co-requisite module(s):

Pre-requisite or Co-requisite module(s):

Module(s) excluded:

Placement information: NA

Academic year: 2024/5

Available to visiting students: No

Talis reading list: Yes

Last updated: 23 May 2024

Overview

Module aims and purpose

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.

Module learning outcomes

By the end of the module, it is expected that students will be able to:

1. Understand the differences between the key to economic evaluation methods and their relative merits
2. Understand the approaches by which consider the most appropriate application of the methods
3. Understand how to apply the most relevant methods to real world projects
4. Understand how to interpret and critically assess economic evaluations

Module 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

Structure

Teaching and learning methods

The module is delivered through lectures. Pre-recorded material and other supplementary live activities may be necessary. The lecturers 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. PC classes might also be used to develop skills in data analysis for economic evaluation.

Study hours

At least 30 hours of scheduled teaching and learning activities will be delivered in person, with the remaining hours for scheduled and self-scheduled teaching and learning activities delivered either in person or online. You will receive further details about how these hours will be delivered before the start of the module.

Please note the independent study hours above are notional numbers of hours; each student will approach studying in different ways. We would advise you to reflect on your learning and the number of hours you are allocating to these tasks.

Semester 1 The hours in this column may include hours during the Christmas holiday period.

Semester 2 The hours in this column may include hours during the Easter holiday period.

Summer The hours in this column will take place during the summer holidays and may be at the start and/or end of the module.

Assessment

Requirements for a pass

Students need to achieve an overall module mark of 50% to pass this module.

Summative assessment

Penalties for late submission of summative assessment

The Support Centres will apply the following penalties for work submitted late:

Assessments with numerical marks

• 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 three working days;
• the mark awarded due to the imposition of the penalty shall not fall below the threshold pass mark, namely 40% in the case of modules at Levels 4-6 (i.e. undergraduate modules for Parts 1-3) and 50% in the case of Level 7 modules offered as part of an Integrated Masters or taught postgraduate degree programme;
• where the piece of work is awarded a mark below the threshold pass mark prior to any penalty being imposed, and is submitted up to three working days after the original deadline (or any formally agreed extension to the deadline), no penalty shall be imposed;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

Assessments marked Pass/Fail

• where the piece of work is submitted within three working days of the deadline (or any formally agreed extension of the deadline): no penalty will be applied;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension of the deadline): a grade of Fail will be awarded.

The University policy statement on penalties for late submission can be found at: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/qap/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.

Formative assessment

Formative assessment is any task or activity which creates feedback (or feedforward) for you about your learning, but which does not contribute towards your overall module mark.

Reassessment

Additional costs