MAE 307 - Social Cost Benefit Analysis - CBA Assignment - Economics Assessment Answer

Economics Assessment Answer

Assessment Task:

The theory including analytical techniques of social cost benefit analysis will be covered in weeks 1 to 5 inclusive and completed in week 7. Consequently, there are 6 classes devoted to CBA. The analytical techniques that you require depend on your topic. Notwithstanding, I recommend that you write up your final version of the CBA assignment in week 7 after the Thursday class, as it is only by then that all of the relevant techniques would have been covered. Background material should be researched early in the trimester once the topic is chosen.

Question 1:
The Victorian government has decided to give $15 million to a local council to construct an aquatic centre, which includes a gymnasium, and employ instructors to develop exercise programs and provide instruction for people diagnosed with Type 2 diabetes. Participants in the programme will not be charged for the service.
(i) Conduct a social CBA of this proposal.
(ii) Clearly state the assumptions you are making.
(iii) Interpret your results using economic theory.

Question 2:
It is proposed to spend $100 million on a bowel cancer screening program in rural areas of Victoria. People will not be charged for the service.
(i) Conduct a social CBA of this proposal.
(ii) Clearly state the assumptions you are making.
(iii) Interpret your results using economic theory.

Question 3:
It is proposed to increase spending by $100 million on a quit smoking program in rural areas of Victoria. People will not be charged for the service.
(i) Conduct a social CBA of this proposal.
(ii) Clearly state the assumptions you are making.
(iii) Interpret your results using economic theory.

Question 4:
It is proposed to spend $100 million to fluoridate a rural areas’s water supply to improve dental health.
(i) Conduct a social CBA of this proposal.
(ii) Clearly state the assumptions you are making.
(iii) Interpret your results using economic theory.

Question 5:
The government is proposing to spend $100 million on a new Headspace centre in a rural district to tackle the distressing problem of youth suicide and depression. People will not be charged for the service.
(i) Conduct a social CBA of this proposal.
(ii) Clearly state the assumptions you are making.
(iii) Interpret your results using economic theory.

Question 6:
(i) Assess the net social value of irrigation water produced and consumed in the Murray-Darling basin for the latest year in which information is available.
(ii) Clearly state your assumptions.
(iii) Interpret your results using economic theory.

Question 7:
‘VICTORIA’S gun-toting train station cop dropouts have cost taxpayers more than $2.65 million, with some quitting while still in training. Internal Victoria Police figures, obtained using Freedom of Information laws, show between 2011 and March 2014, 50 Protective Service Officers [PSOs] pulled the pin at the training academy and a further 20 resigned after getting a posting to man our railway stations. Each PSO recruit costs $31,500 for their 12-week training course, which includes pay, uniform, operational vests and the gun. The PSOs have a base wage of $53,641 and then get shift penalties depending on the hours they work. Victorians will continue to pay for some PSOs who were eligible for the Emergency Service super once they were sworn in’. Herald-Sun. 20/6/2014.
(i) Place a net social value on Victoria’s PSOs [Protective Service Officers] using the latest available data.

(ii) In your answer respond appropriately to the above comments made in the Herald- Sun newspaper.

(iii) Clearly state your assumptions.
(iv) Interpret your results using economic theory.

Question 8:
The Victorian government is proposing to spend $100 million to build a public hospital in a country region that will specialise in the treatment of cancer and neurological disorders such as multiple sclerosis.
(i) Conduct a social CBA of this project.
(ii) Clearly state your assumptions.
(iii) Interpret your results using economic theory.

Question 9:
In Victoria, it is an offence for anglers to illegally sell their catch without a commercial licence. Similarly, it is an offence for restaurants and sea food businesses to receive or sell recreationally caught seafood. The purported objective of the legislation creating these offences is to discourage illegal seafood supply chains. Penalties are fines over $150,000 or a maximum of 10 years imprisonment. [See Victorian Fisheries Authority Website].
The Victorian government has decided to employ 20 additional Fisheries Officers to police and enforce the legislation.
(i) Conduct a social CBA of this project.
(ii) Clearly state your assumptions.
(iii) How would you estimate the optimal fine for a proven offense?
(iv) Interpret your results using economic theory.

Question 10:
Australia implemented an influenza vaccination program in 2016.
(i) Conduct an ex post social CBA of this policy.
(ii) Clearly state your assumptions.
(iii) Interpret your results using economic theory.

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