Rationale/Course Description


The course considers the use of shadow or efficiency prices in the appraisal of public sector projects. It also examines the rationale for the use of world prices to value inputs as well as outputs, and discusses how to evaluate projects by using the world price numeraire and how governments make decisions when market and shadow prices give different signals.


  • To introduce the student to the appraisal of public projects
Attachment Name Attachment Type
LEC 3202 Investment Appraisal II DOC PDF PS