IE546 PROJECT APPRAISAL
|METU Credit (Theoretical-Laboratory hours/week):
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|Level of Study:
Basics of cost-benefit analysis. Market efficiency and welfare. Welfare measures in partial equilibrium analysis. Market inefficiencies and market failure. Measuring opportunity costs and benefits in efficient markets. Costs and benefits in the presence of monopoly, public goods, externalities and information asymmetry. Effects of decisions in secondary markets. Inter-temporal decisions, discounting, uncertainty and irreversibility.