08Cost-Benefit Analysis（课件）- 《财政与金融》同步教学（人民大学·第五版）

8 8.1 Measuring the Costs of Public Projects 8.2 Measuring the Benefits of Public Projects 8.3 Putting It All Together 8.4 Conclusion Cost-Benefit Analysis 1 of 27 1 8 Introduction: California Transportation Problem The state’s transportation problem: Travel on California’s highway system is increasing 5 times faster than its capacity increases. Population is expected to increase by 20 million over the next 30–40 years. The state has proposed the first high-speed rail system in the United States, covering 800 miles. Voters opted to pay for the projected $68 billion cost through bonds, federal funding, private investment, and revenue from carbon dioxide permits. Analysts concluded the net benefits of rail system were over $133 billion. of 27 C H A P T E R 8 ■ C O S T – B E N E F I T A N A L Y S I S 2 8 Cost-Benefit Analysis This chapter covers cost-benefit analysis. Cost-benefit analysis: The comparison of costs and benefits of public goods projects to decide if they should be undertaken. Cost-benefit analysis is widely used to evaluate potential public programs and projects. of 27 C H A P T E R 8 ■ C O S T – B E N E F I T A N A L Y S I S 3 8.1 Example: Cost-Benefits Analysis of Highway Construction Project What are the costs and benefits of the project? In the first year? Over time? of 27 C H A P T E R 8 ■ C O S T – B E N E F I T A N A L Y S I S 4 8.1 How to measure costs? Cash-flow accounting: An accounting method that calculates costs solely by adding up what the government pays for inputs to a project and calculates benefits solely by adding up income or government revenues generated by the project. Opportunity cost: The social marginal cost of any resource is the value of that resource in its next best use. Measuring opportunity costs faces several challenges. Measuring Current Costs of 27 C H A P T E R 8 ■ C O S T – B E N E F I T A N A L Y S I S 5 8.1 Economic costs are only those costs associated with diverting the resource from i