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Project Appraisal

 

Course Description and Objectives:

Instructor: Dr. Ali Yousefi

Level: Graduate

IUT Couse Number:

Taught in: Spring

Web Course URL: http://ivut.iut.ac.ir/login.php?course=585  (Restricted Access)           

Human welfare is the ultimate objective of development. The goal of a proper project evaluation is to stop bad projects and to prevent good projects from being rejected. This course is aimed at helping public officials and private analysts develop and evaluate investment projects to promote economic and social well-being of the country in question. The course proceeds from the formulation and definition of a project to the data requirements for the evaluation, then to the criteria used for accepting a good or rejecting a bad project from both the financial and the economic viewpoints, and finally to the analysis and management of many types of uncertainty faced by various stakeholders. These components are integrated into the analysis in a consistent manner

Prerequisites: 

Planning in Rural Development

 

Grading Policy: 
 

ACTIVITIES

PERCENTAGES

Project

20%

Final Exam

80%

 

Time: 

Lectures: 1 sessions / week

Sunday 08:00-10:00 AM

 

Syllabus:

Syllabus and Reading:

SES 

TOPICS

READINGS

Slides

I. Introduction

 

1

Introduction to Project Evaluation and Course Overview: The Integrated Analysis

Chapter 1 in Jenkins, G., Kuo, C. Y., & Harberger, A. C. (2011). Cost-Benefit Analysis for Investment Decisions: JDI Executive Programs. (FREE ACCESS)

Jenkins, G. P. (1997). Project analysis and the World Bank. The American Economic Review, 87(2), 38-42.

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2

A Strategy for the Appraisal of Investment Projects

Chapter 2 in Jenkins, G., Kuo, C. Y., & Harberger, A. C. (2011). Cost-Benefit Analysis for Investment Decisions: JDI Executive Programs. (FREE ACCESS)

جلد دوم فصل 1 تا 3 راهنماى تهيه گزارش توجيه طرح: توجيه فنى، مالى، اقتصادى و اجتماعى (1388). معاونت برنامه ریزی و نظارت راهبردی ریاست جمهوری، نشریه 3121 و 3122.    لینک دوم دانلود  (FREE ACCESS)

فصل 1, 2 و 5 از مجیدیان داود (1383). ارزیابی طرحهای صنعتی: مطالعات فنی، مالی و اقتصادی، انتشارات مدیریت صنعتی.

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II. Financial Appraisal

3

The Financial Appraisal of Projects

Chapter 3 in Jenkins, G., Kuo, C. Y., & Harberger, A. C. (2011). Cost-Benefit Analysis for Investment Decisions: JDI Executive Programs. (FREE ACCESS)

Chapter 2 in Campbell, H. F., & Brown, R. P. C. (2003). Benefit-cost analysis: financial and economic appraisal using spreadsheets: Cambridge University Press.

جلد دوم فصل 4 و 5 راهنماى تهيه گزارش توجيه طرح: توجيه فنى، مالى، اقتصادى و اجتماعى (1388). معاونت برنامه ریزی و نظارت راهبردی ریاست جمهوری، نشریه 3121 و 3122.     لینک دوم دانلود (FREE ACCESS)

فصل 6 و 8 از مجیدیان داود (1383). ارزیابی طرحهای صنعتی: مطالعات فنی، مالی و اقتصادی، انتشارات مدیریت صنعتی.

صورت‌ جريان‌ وجوه نقد، استاندارد حسابداري‌ شماره‌ 2، جامعه حسابداران رسمی ایران.  (FREE ACCESS)

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4

Discounting and Alternative Investment Criteria

Chapter 4 in Jenkins, G., Kuo, C. Y., & Harberger, A. C. (2011). Cost-Benefit Analysis for Investment Decisions: JDI Executive Programs. (FREE ACCESS)

Chapter 4 in Tan, J. P., Anderson, J. R., Belli, P., Barnum, H. N., & Dixon, J. A. (2001). Economic Analysis of Investment Operations. Washington, D.C.: The World Bank.  (FREE ACCESS)

Chapter 3 & 4 in Campbell, H. F., & Brown, R. P. C. (2003). Benefit-cost analysis: financial and economic appraisal using spreadsheets: Cambridge University Press.

جلد دوم فصل 4 و 5 راهنماى تهيه گزارش توجيه طرح: توجيه فنى، مالى، اقتصادى و اجتماعى (1388). معاونت برنامه ریزی و نظارت راهبردی ریاست جمهوری، نشریه 3121 و 3122.     لینک دوم دانلود  (FREE ACCESS)

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5

Scale, Timing, Length and Inter-Dependencies in Project Selection

Chapter 5 in Jenkins, G., Kuo, C. Y., & Harberger, A. C. (2011). Cost-Benefit Analysis for Investment Decisions: JDI Executive Programs. (FREE ACCESS)

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6

Dealing with Uncertainty and Risk in Project Appraisal

Chapter 6 in Jenkins, G., Kuo, C. Y., & Harberger, A. C. (2011). Cost-Benefit Analysis for Investment Decisions: JDI Executive Programs. (FREE ACCESS)

Chapter 9 in Campbell, H. F., & Brown, R. P. C. (2003). Benefit-cost analysis: financial and economic appraisal using spreadsheets: Cambridge University Press.

 

III. Economic Appraisal

7

Principles Underlying the Economic Analysis of Projects

Chapter 7 in Jenkins, G., Kuo, C. Y., & Harberger, A. C. (2011). Cost-Benefit Analysis for Investment Decisions: JDI Executive Programs. (FREE ACCESS)

Chapter 7 in Campbell, H. F., & Brown, R. P. C. (2003). Benefit-cost analysis: financial and economic appraisal using spreadsheets: Cambridge University Press.

 

8

The Economic Opportunity Cost of Capital

Chapter 8 in Jenkins, G., Kuo, C. Y., & Harberger, A. C. (2011). Cost-Benefit Analysis for Investment Decisions: JDI Executive Programs. (FREE ACCESS)

Chapter 5 in Campbell, H. F., & Brown, R. P. C. (2003). Benefit-cost analysis: financial and economic appraisal using spreadsheets: Cambridge University Press.

 

9

The Shadow Price of Foreign Exchange and

Non-tradable Outlays

Chapter 9 in Jenkins, G., Kuo, C. Y., & Harberger, A. C. (2011). Cost-Benefit Analysis for Investment Decisions: JDI Executive Programs. (FREE ACCESS)

Chapter 7 & 8  in Campbell, H. F., & Brown, R. P. C. (2003). Benefit-cost analysis: financial and economic appraisal using spreadsheets: Cambridge University Press.

Chapter 5 in Tan, J. P., Anderson, J. R., Belli, P., Barnum, H. N., & Dixon, J. A. (2001). Economic Analysis of Investment Operations. Washington, D.C.: The World Bank.  (FREE ACCESS)

 

10

Economic Prices for Tradable Goods and

Services

Chapter 10 in Jenkins, G., Kuo, C. Y., & Harberger, A. C. (2011). Cost-Benefit Analysis for Investment Decisions: JDI Executive Programs. (FREE ACCESS)

Chapter  8  in Campbell, H. F., & Brown, R. P. C. (2003). Benefit-cost analysis: financial and economic appraisal using spreadsheets: Cambridge University Press.

Chapter 5 in Tan, J. P., Anderson, J. R., Belli, P., Barnum, H. N., & Dixon, J. A. (2001). Economic Analysis of Investment Operations. Washington, D.C.: The World Bank.  (FREE ACCESS)

 

11

Economic Prices for Non-tradable Goods

and Services

Chapter 11 in Jenkins, G., Kuo, C. Y., & Harberger, A. C. (2011). Cost-Benefit Analysis for Investment Decisions: JDI Executive Programs. (FREE ACCESS)

Chapter  8  in Campbell, H. F., & Brown, R. P. C. (2003). Benefit-cost analysis: financial and economic appraisal using spreadsheets: Cambridge University Press.

Chapter 5 in Tan, J. P., Anderson, J. R., Belli, P., Barnum, H. N., & Dixon, J. A. (2001). Economic Analysis of Investment Operations. Washington, D.C.: The World Bank.  (FREE ACCESS)

 

12

The Economic Opportunity Cost of Labor

Chapter 12 in Jenkins, G., Kuo, C. Y., & Harberger, A. C. (2011). Cost-Benefit Analysis for Investment Decisions: JDI Executive Programs. (FREE ACCESS)

 

 

13

Cost-Effectiveness Analysis

Chapter 15 in Jenkins, G., Kuo, C. Y., & Harberger, A. C. (2011). Cost-Benefit Analysis for Investment Decisions: JDI Executive Programs. (FREE ACCESS)

Chapter 7 in Tan, J. P., Anderson, J. R., Belli, P., Barnum, H. N., & Dixon, J. A. (2001). Economic Analysis of Investment Operations. Washington, D.C.: The World Bank.  (FREE ACCESS)

Vietnam - Second Rural Transport Project World Bank CE Project Appraisal Document (PDF - 5 MB)

 

IV. Social-Distributive Appraisal of Projects

14

Evaluation Of Stakeholder Impacts

Chapter 13 in Jenkins, G., Kuo, C. Y., & Harberger, A. C. (2011). Cost-Benefit Analysis for Investment Decisions: JDI Executive Programs. (FREE ACCESS)

Chapter  11  in Campbell, H. F., & Brown, R. P. C. (2003). Benefit-cost analysis: financial and economic appraisal using spreadsheets: Cambridge University Press.

 

15

The Shadow Price of Government Funds,

Distributional Weights, and Basic Needs Externalities

Chapter 14 in Jenkins, G., Kuo, C. Y., & Harberger, A. C. (2011). Cost-Benefit Analysis for Investment Decisions: JDI Executive Programs. (FREE ACCESS)

Chapter  10  in Campbell, H. F., & Brown, R. P. C. (2003). Benefit-cost analysis: financial and economic appraisal using spreadsheets: Cambridge University Press.

Harberger, Arnold. 1980. “On the Use of Distributional Weights in Social Cost-Benefit Analysis,” Journal of Political Economy.

 

V. Valuing Environmental Externalities

16

Total Economic Value

Chapter 6 in Atkinson, G., & Mourato, S. (2006). Cost-benefit analysis and the environment: recent developments. (FREE ACCESS)

 

17

Revealed Preference Methods for Valuing Non-market Impacts

Chapter 7 in  Atkinson, G., & Mourato, S. (2006). Cost-benefit analysis and the environment: recent developments. (FREE ACCESS)

 

18

Stated Preference Approaches I: Contingent Valuation Method

Chapter 8 in  Atkinson, G., & Mourato, S. (2006). Cost-benefit analysis and the environment: recent developments. (FREE ACCESS)

 

19

Stated Preference Approaches II: Choice Modelling

Chapter 8 in Atkinson, G., & Mourato, S. (2006). Cost-benefit analysis and the environment: recent developments.

 

VI. Writing the Benefit-Cost Analysis Report

20

Writing the Benefit-Cost Analysis Report

Chapter  14  in Campbell, H. F., & Brown, R. P. C. (2003). Benefit-cost analysis: financial and economic appraisal using spreadsheets: Cambridge University Press.