The course is devided into six parts:
1. Introductory concepts (Pareto principle, social welfare, optimal welfare and welfare reform, etc.).
2. Evaluation of welfare changes at the individual level (surplus analysis, equivalent variations, interdependent and reference-dependent preferences, etc.)
3. Aggregating welfare changes
4. Applications to transport problems (pricing and investment, fuel saving policies, policy making with multiple governments etc.)
5. Principles of cost-benefit analysis (shadow prices, discount rates, treatment of wider economic benefits, etc.)
6. Applications of cost-benefit analysis (High speed rail, the third crossing of the river Scheldt, etc.)