Benefit-Cost Analysis in Theory and Practice (The Harpercollins Series in Economics)

A guide to the theory of benefit cost analysis, and aiding practical application, this text extends the basic microeconomic framework to financial analysis to show how financial concepts used in private firms can be employed to evaluate projects in the public sector. Ethical issues are brought in throughout, and extensive case studies show the theory in action. Step-by-step demonstrations apply theory and cost-benefit tools, with complete discussion of risk and uncertainty. The case studies show how to apply materia in a practical context.