A ten-day course on Valuation and Risk Cost-Benefit Analysis was conducted last 20-30 October 2013 in Penang, Malaysia to provide participants with in-depth knowledge and technical skills on these economic methods. Twenty-six economists from various universities and government agencies in Southeast Asia and China were chosen to attend based on their research areas of interest and background.
The course was comprised of two parts. The first part was delivered by Dr. Truong Dang Thuy of the University of Economics Ho Chi Minh City, EEPSEA Senior Economist Dr. Orapan Nabangchang, and Dr. Mia Amalia of Indonesia’s National Development Planning Agency. It discussed market-based valuation methods focusing on travel cost method, hedonic price method, contingent valuation method, and choice modeling.
The second part of the course focused on risk cost-benefit analysis (CBA) with special focus on the use of the Monte Carlo method. Delivered by Dr. Marc Jeuland of Duke University, this module was attended by an additional 10 university-based researchers. An additional lecture on Cost Effectiveness Analysis and Multi-Criteria Analysis was also delivered by EEPSEA Senior Economist Dr. Canesio Predo.
The training was intensive with the morning sessions devoted to lectures leaving the afternoon sessions for the various activities designed to better acquaint the participants with the economic tools being discussed. The course ended with each participant presenting a proposed research project as a result of their learnings from the course.