Use your knowledge of economics and CBA to critically evaluate the merits of
social commentaries made on a topic by other economists. This can include newspaper opinions or other blog posts. This blog post should show your
understanding of cost benefit analysis, should be intelligent and convincing, and should aim to add to the conversation going on this topic. Comment on the
various issues and considerations in regard to measuring the impacts (costs and benefits). You are not expected to perform an economic evaluation or CBA.
Choose one of the following four topics:
CASE STUDY 1: Cost benefit analysis of lockdown decisions: Imposing restrictions and lockdowns has been a popular regulatory approach by different state governments to reduce the spread of the virus. However, there are huge debates over the pros and cons of lockdown. From local small and medium retail enterprise perspectives consider a preliminary assessment of lockdown decisions. Consider the super spreading capacity of new variants, vaccine roll-out, and subsidies provided by the government(s) to the businesses as part of the analysis.
CASE STUDY 2: Cost benefit analysis of shutdown of a coal-fired plant: Major power companies in Australia are planning to close coal-fired power plants. Shutting down coal-fired plants may have many environmental benefits but there might be some adverse impacts on the local economy. From the perspective of the power company, state government where the plants are located, and national angle conduct a preliminary CBA to
understand the worth of shutting down a coal-fired plant.
CASE STUDY 3: Restoration of a local park. Your local city council is aiming to restore a local park. Currently, the site is in derelict condition and very few people visit it. During the construction period, the site has to be completely closed off which would cause inconvenience to local residents. However, once the restoration is complete and the site is open it is expected that the park will not only attract visitors not from local areas but also from outside of the council. The restored site also might provide biodiversity benefits. However, local council will need funding from the state government to cover the capital cost of the project. From a council and a state perspective conduct a preliminary CBA to understand the worth of restoring the park.
CASE STUDY 4: Advertising campaign focused on reducing domestic and family violence. The Queensland Government is concerned about increasing domestic and family violence rates. To address the issues, the Queensland Government has implemented a Prevention Strategy. As part of this strategy, the Government is considering an advertising campaign. The Queensland Government has asked for a preliminary CBA report on the potential ad campaign.
Your commentary should be in the form of a Blog.
In your blog make it clear the perspective you are taking.
Word limit: 1000 words maximum (references, images, links excluded)
Examples of Blogs
https://www.iadb.org/en/topics-effectiveness-improving-lives/cost-benefit-analysis